W-L-P Consultants

# 2 – Find the Right New Customers

Having made sure that your business isn’t leaking profit by losing those customers which generate that profit, you may confidently look to acquiring more business.

But do bear in mind that not all business is good business. Where does your profit come from and who is likely to provide you with good business? Just as importantly...

In my previous series I gave tips on some essential things you need to know about your customers. To start the New Year I’ll show you how to put that information to best use by offering a number of ways to help make sure you achieve a healthy bottom line. Having an effective understanding of critical customer and competitor influences on your profitability will help keep you focussed on...

# 10 - What happens if the person who deals with you leaves?

When a buyer or key contact leaves a company, their successor is often keen to make their mark and establish themselves in their new role early on. One of the ways they often seek to do this is by reviewing and replacing some of the existing suppliers; sometimes, too, they may want to use their own favoured...

# 9 - How can you spot the really good customers and where can you find more like them?

Different businesses will have quite different answers to this question, depending on their market(s), current situation and strategies. It could be customers that generate the highest profit; it could be those with the greatest potential for growth; it could be customers which will provide...

# 8 - Are some of your 'best' customers actually vampires?

Asked to identify their best customer, most business people will automatically name the biggest; but is this realistic?

The biggest customer may well have negotiated substantial discounts and may also take a long time to pay. Added to that, they are frequently the most demanding of service and back-up. They often...

# 7 - How much of their business are you getting and how much might they let you have?

If you discover you're only winning a portion of a customer's total spend on your product or service, is it worth the cost and effort of trying for more?

Some businesses adopt a deliberate policy of using several suppliers for the same product or service. There are two main reasons for doing...

# 6 - What do they really think of you?

So, your sales people tell you their buyer says you're doing fine & you see their MD at Chamber events - but are you getting the full picture? Would they really tell you if you're not doing quite as well as they'd like?

More importantly, are you measuring your performance on their criteria or just...

# 5 - What do you have to do to retain their business?

How loyal and averse to change are your customers?

Are they likely to go elsewhere for just a small price advantage? Or are they so tied into “status quo thinking” that keeping their existing business is simply a matter of maintaining consistent delivery at a reasonable cost? Will a policy of...