Reliance on a few big accounts could put you at risk. … can benefit your company in a number of ways: 1. Nonprofits or publicly traded companies.Having a diverse mix of clients, including: 5 Simple Steps to Getting Better Clients.
#EXPAND CLIENT BASE HOW TO#
How to Use Cloud Accounting to Help You Identify High-Value Clients.How to Find and Land Repeat Clients for Your Business.Learn more about saying no to the wrong clients in our blog post, “ Honest and Direct: How to Say No Politely to a Client.” What a Diverse Customer Base Does for Your Business But if a client or project isn’t the right fit-the budget is not right, the project has too many red flags or potential pitfalls-it’s OK to say no. Turning down business rarely feels comfortable. Not every client that comes in the door is the right client for you. Understand Not Every Client Is Right For You Small accounts can balloon quickly when you aren’t looking. They’re also a great fail-safe in case a bigger client falls through. These accounts stick with your business because you have a good relationship, or the work is fun or easy. Many businesses have a number of smaller accounts that don’t fit their ideal, next-best or opportunistic client definition. The portion of your client mix dedicated to opportunistic accounts can fluctuate depending on the types of projects that come in, and your capacity alongside seasonal clients. These clients will come and go more often than your anchor clients. You might not have pursued them on your own because they don’t fit your ideal customer definition, but are a surprising fit because they have the right budget, they present future opportunities, or it’s just a cool project. These clients are the ones that come to you with a specific need. When possible for your business type, these clients should be a smaller portion of your overall client mix. These clients are reliable in their own way, but require extra attention to ensure you stay top of mind during their off-seasons. Many service-based businesses have clients with seasonal needs or needs on a specific schedule. These clients provide the bulk of your revenue, and should be the client type you spend most of your marketing and advertising budgets on trying to acquire. They have long-term contracts or retainers, and you expect the relationship to continue unless something unexpected happens. Your anchor clients deliver consistent business. Consider them when building out your client mix. But here are a few of the high-level types of clients you should look for. How do you know what a diverse customer base looks like for you? Every business will have a different breakdown. Establish the Client Mix that Works for You Always look at your current client base and your analytics for more specific answers. You can brainstorm the answers to the above questions, but make sure to marry that information with what you actually know. Identify who’s buying from you, especially if it’s different from the person using your services.
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