Pruning Your Money Tree

On June 6, 2011, in business, marketing, sales, Thank you cards, by Kevron Printing

In our last article, we wrote about increasing your business with less effort, less monetary expense, and with more success by tapping into your existing database. However, as most of us can attest, not all clients are created equal. Before you spend all of your time going after every existing client, try doing this: Go […]

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Pruning your clientsIn our last article, we wrote about increasing your business with less effort, less monetary expense, and with more success by tapping into your existing database. However, as most of us can attest, not all clients are created equal. Before you spend all of your time going after every existing client, try doing this:

Go through your clients and choose those with whom you’ve done repeat business, from whom you’ve received referrals, and from whom you’ve received payment on time and in full. These are your “A” clients. These are the people you want to approach with incentives, thank profusely, and, in general, make happy. You’ve done a great job with this in the past, undoubtedly, but you should systematize your efforts to ensure that you are not forgetting those who are really keeping you in business. Things to do may be as simple as sending periodic mailings with exclusive offers, sending them a thank-you card or a “just-because” gift, or maybe even thanking them with an intimate get-together with other similar clients and potential referral sources.

Then, consider those clients who pay, may be infrequent, but who have a lot of potential. Perhaps they’ve only ordered once or twice from you, but that’s just because you may not have fostered the relationship enough, or they are tentative because they have been “burned” in the past by previous providers. These are your “B” clients. They may require a bit more effort than you “A” clients, but don’t discount them. They may, in fact, be diamonds in the rough ready to be polished to be your “A” clients.

Finally, think about those clients who have been poor payers, who belly ache about pricing, who order small and infrequently, or who may be an all-around pain-in-the-neck. These are your “D” clients–”D” stands for “Delete”. Don’t waste your time and resources on these people.

Save money, be profitable, and keep moving forward. Make sure you are spending your time in the most productive way you possibly can.

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