How to quadruple (or more) the average sales value of your core customers without spending any more money
Dear Printing Colleague,
Ever find yourself wasting valuable time on customers or prospects that spend painfully small amounts of money? It often seems that the smaller the prospect… the more personal attention they want from you.
They agonize over their business card… fret over their wedding stationery… and sweat bullets over their letterhead. By the time you cost in all the labor involved in these pitiful projects… you've actually lost money.
How frustrating is that!
However… it doesn't have to be like that. There is an alternative.
Just take me to the Buyer's Pyramid video
Here's what I've done for you.
Years ago I developed a system called The Buyer's Pyramid. That system had one goal in mind. It had to allow me to stop wasting time with low value prospects. And… give me a simple (and predictable) system to win the biggest prospects in my marketplace.
I first used this when I was selling on the Gold Coast in Australia. I did a years’ worth of target in three months. Two years previously I was on the verge of being sacked for complete incompetence and drastic underperformance.
Back in the UK… I used it when selling for one of those big international software companies. I out sold the rest of the team – combined. That's not because I'm a great natural salesperson… I'm certainly not one of those. I just developed a great system… that worked everyplace I used it.
By the way… make sure to listen to the ‘James’ story on the video. What an idiot!
Let me share with you some ‘inside’ numbers from real printing companies. You’ll have no way of knowing who these companies are… but the data is real.
Discover The BIG Money In Your Market
- Average annual spend from top 20% of customers = £17,997
- Average annual spend from bottom 80% of customers = £946
- Average annual spend for top 5% of customers = £64,054
- Average annual spend for bottom 50% of customers = £305
- Top 3% of clients contribute 50% of the revenue
- Bottom 50% of clients contribute 4% of the revenue
Now, let me ask you… do you want to invest your valuable resources in getting more clients like the top 5% to 20%... or more low value customers like the other 80%?
If you… like me… want to attract regular spending profitable customers who don't haggle price – you want what we want. Which means you’ll want to watch this video fast.
n there, I reveal the exact system I’ve spent 24 years perfecting. The system which allows you to attract (and keep) a steady stream of the best customers and prospects in your market.
Ok… I’ve heard enough… just take me to the video
It doesn’t matter if you know little about sales… you can still implement this system successfully in your company. If a school drop-out like me can make it work… you certainly can.
To get going straight away… click this link
When you’ve watched it, come back to the blog and get your questions answered. I’ve created this blog for YOU. I want to help you succeed in this economy. You can still increase sales… attract more customers and boost your profits… if you have systems for doing it.
I’ll help you… and when you begin posting comments and questions on the blog I’ll know exactly what to do for you. All of our team is going to be watching out for you!
‘Till then…
Sales... Profit... & Cashflow Strategies For Printers
Nick Devine
Founder and Publisher
www.ThePrintCoach.com
www.PrintersProfitSystem.com
{ 197 comments… read them below or add one }
So much great information, all geared to radically improving my business results.
Very interesting - particularly the comparison with First Class Airline passengers.
What to do with the bottom 50%?
Is it better for the company to let them go?
Very interesting
Your info is great! In your opinion, what is the best way to identify the best prospects?
I am looking for the "Purple Cow" of printing sales. I think I have been an innovator in the past 15 years in the print and fulfillment services model, but I have failed on having the "sledge hammer" needed to secure the clients I need to flourish.
Can you help?
Nick,
Great tool, but I am wondering.... should we measure sales or measure the top PROFIT producers? I have a top 5% client we actually let go because we got tired of writing him a check every month.
I am enjoying the videos and want to learn more
Great ideas!
very good
Looking forward to reviewing this.
Excellent presentation
Thanks for this
Your presentation is right on. Thanks. I will have a company
meeting to present your thoughts on increasing quality customers.
Dick Royston
Color Pages
I am very interested in looking at the buyers Pyramid and Excel tool
I enjoyed your pyramid approach, it took my ABC analysis to a new level and presented in such a way that my sales people can really uanderstand and more importantly, action
For Robert Johannes
Where you want to aim for is a combination of both. As you read Printers Profit Manifesto, you'll hear me talk about Customer Model 4 sales strategies. You'll also see this in the Competition Annihilation Method video on this blog. Customer model 4 and Buyer Pyramid is all about getting high value customers who willing pay you the prices you need so you make a reasonable profit. Your job is to create value for the customer so they are willing to do that. Simple... but not easy. We've worked on this non-stop for over a year. Out sales have doubled... but it's taken some effort on our behalf.
For David Ginn
Subscribe to all 3 parts of Printers Profit Manifesto from this blog. Watch all 3 videos. It's all free. If you want to take your business to the next level... visit http://www.theprintcoach.com/freegifts . You can get Printers Profit Trends for free and a 30-day subscription to our Gold membership program.
For Art Matni
I don't usually advocate letting 50% of your customers go. Instead, concentrate your efforts on (a) your most valuable existing customers and prioritize everything you do for them within your complete business. This must be systematized as I explained in the video. (b) Invest most of your resources on finding and winning ONLY the most valuable prospects in your market. Go after them relentlessly and find ways to add value to them. When you take this approach they bottom of your customer list will gradually move away as you bring on new and better quality customers. This is exactly what happened in our company. We have less customers and substantially higher sales and profits.
For Carl
Look for commonalities in your existing client group. Do you have expertise in schools, professional services companies, dealing with marketing directors, manufacturers, IT companies etc. You will usually find some kind of trend in your company. Next... compile a target list of similar profile companies using the Buyer Pyramid system and then market consistently to that group using customer model 4 strategies. We do a full training on this in our Platinum Membership level... but if you use what you got in the video, you'll make a lot of progress quickly.
For Walter
When you say 'Purple Cow' I'm assuming you are a Set Godin fan. Creating differentiation is based on 2 factors. Most people miss this fact. (a) You have to have a value proposition that adds value to the customer – see the 4 customer models in Part 2 of Printers Profit Manifesto – free from this blog and also study Printers Profit Shift in Part 1. (b) You must customize your approach and value proposition for the customer. It's not 'what you do' that really matters, it's 'what you do for the customer' that will win you the business. For each prospect you must translate your value proposition to they can see how it helps them solve their individual challenges. In our business we've used a number of the options in Printers Profit Shift and combined with the Customer Model 4 sales approach.
1: 80/20 is not 4 times better...I knew this yet wasn't acting on it like I should.
2: We have GP for each client so track that as it shows up the occasional high maintenance clients that need a different approach or dropped.
Good to hear idea provoking thoughts
The Pyramid model is very much true, as are many of the things that Nick teaches or reminds us that we really already know.
Implementation is key to making any plan work, BUT do remember to walk the walk after you've talked the talk. The results of focusing on larger clients take longer to process and require a thorough approach. There are no second chances with the big guys, so ensure that you have the technical abilities to match the ambition, or at the very least you can source them sharpish!
Great advice. Thanks
sounds great
always looking for new ways to win
Great concept - Thanks for offering the slides.
This seems so simple. It makes one wonder why so few people follow it.
look forward to increase sales
Any help/advice to find and grow sales is worthy of review
Could you provide me access to the Buyers Pyramid slides and Excel Tool.
Thank you.
Always interested in potential growth!
Nice video. Thanks
Yes, i want to teach my sales staff what i have been preaching...
can't wait to see how to achieve more growth from this video
Every business person I know could use a business coach to help them to achieve their goals.
sounds interesting
Simple concept- but one we forget to focus on. Could use periodic reminder.
Great stuff. Love to try this in my business. thanks
Thank you for the presentation; I just recently was promoted into the sales manager role and my expectations from my sales staff follow along closely with you on the law of small numbers; however CEO wants to start making 120+ phone calls a week to get results, with a large sales staff (10) would it make sense for me to try both methods or do you believe the results from law of small numbers from all my staff be more Beneficial?
makes sense!!!
Helpful video with good insights beyond the familiar 80/20 rule.
Very interesting. While I've heard the concepts before, I've never heard it quite this way and perhaps that's why I've never really applied it. It's always inticing, but never motivating enough. Now I want to try it.
Would like to know more about the Buyers Pyramid
Interesting concept, what happens if you focus on a very finite amount of leads when prospecting and they mostly fail, have you not wasted 80% of your time on 20% of your opportunity? I do like the first class treatment of the top 20 and know in fact it works.
This is exactly where we want to be and is very logical. Appreciate your sharing!
excellent prsentation with a good solution for expanding our business can't wait to get started
outstanding looking forward to getting spreadsheet..
Thank you for the opportunity to view this tool guide.
I have been a firm believer in the 80/20 Pareto Principal for the last 18 yrs. I have never had a sales yr. less than $1,000,000.00 USD when I focus on this priciple.
I am sending this e-mail to all my sales people. Perfect timing for our company.
Well presented presentation. I have been a firm believer of the Pareto Principal FOR the last
17 years.
Cannot download the Flash, so would like you to send me the slides so I can follow the verbiage. Thanks!
Very clear and concise way to look at clients.
I think this process of selling would be very beneficial to our sales force.
Great information, would like to review the slides and excel tool!
Great concept, I will give it a try and let you know the results.
Thanks for the information. I am looking forward to getting started.
Great concept! Cannot wait to put this to to use.
Work SMARTER....Not HARDER
Great info and looks like a good tool for moving your salespeople to use there time better.
Very good presentation
Nice presentation. I look to forwars to testing our data against the assumptions.
I was interupted a couple of times while listening to the presentation. I did take notes on what I heard and the concept makes perfect sense. If these are at no charge I would like to receive. Like I said I did not hear everything so if this is not free please do not send to me, I can always listen to the demo again. Thanks, Diane
Very interesting examples. I look forward to learning more and applying to my trade.
this is a great tool to help you better understand your customer base.
This was worth my time! I'm going to use this as part of an upcoming sales meeting.
Love the logic!
Interesting! Should a company with several sales reps have each rep use the model of finding ten "profiled" prospects and assigning those ten to that rep with certain performance expectations? Also, in a company that has digital equipment as well as larger sheet-fed and web, should they separate the sales efforts? I understand the idea of looking for more clients that print $500K per year as an example, but not all clients are spending that much. Shouldn't there be an effort to cultivate say, 10 clients that spend only $50K per year as a base? I hope that makes sense. We have clients that spend an average of $250 per ticket and those that spend $15K per ticket. When the clients that are spending $15K per ticket are inactive the smaller tickets keep the presses running.
I have been so focused on selling anything to anyone in this economy that I forgot many of the principles that you discussed.
In years past we did a similar analysis with great success but as our market and our offerings changed we have slipped. Thank you for the great ideas I look foirward to trying the worksheet out.
Great topic!
It was eye opening to hear about a system to find the top 5% of customers. How can I do this on a regular basis?
Dear Nick,
Thanks for the over view of the 80/20. I've heard it before but today it made more sense then ever. I look forward to hearing more and doing more in 09.
Best,
David
I agree 100% with your strategy. I have always thought the best way to grow is to identify the best customers I have and find more like them. I have just never formulated and implemented the plan. Weperiodically identify our top customers, but do little to give them better service and do little or nothing to identify prospects in this category. Now is the time to make the move.
this makes sense! systemize your focus on those customers that keep you in business!
Thank You for this opportunity
Excellent Strategy! I will invite my co-workers to review this with me, and try to move forward with this line of thinking/selling.
Very enlightening, makes perfect sense and will help me focus on making money for my top customers, and will help me focus on the correct customers.
Whats the best way to choose those prospective buyers that will have dollar amounts like your 20%? I dont know if I can get any more sales out of my few top customers becuase we already give extraordinary service now. In fact they ask us to do some things that we cant do inhouse so I outsource for them. How can I get more out of these?
Awesome presentation. I will from here on out change my sales focus for my two companies.
I like to look at success as a model. sounds good
The excel tool looks like an excellent tool to help identify where to focus our attention. We know the 80/20 rule, but the 5/50 rule will help us focus our attention on the right type of customer and better handle our internal workflow to service these customers.
Common sense approach. We have used this strategy successfully, but have gotten distracted on other items. Thanks for the reminder. It will help us get back on course.
It just confirms that you dont keep all your eggs in one basket! Thank you for the contribution.
Thought it was very good ideas. Fits are business ideas.
Good stuff. Thanks
Very interested in your system
A great presentation and well worth the time spent watching and painfully nodding my head.
Thank you. Twice a year, we puublish our top 20 customer list with the percentages of their sales compared to overall sales. I wish I could tell you that we do something with this list, but we don't do enough. We do however, push their work through faster and jump through every hoop to get things to them before they ask.
Edie Goldberg
Great advice, we have always worked the 80/20 rule in theory, not always in practice. So putting into a spread sheet and sharing company wide is a great step.
I'm looking forward to analyze my customer base in this way. Please send the excel tool.
We knew this, but the tool will spell it out for the sales team.
makes sense. Become an expert in an industry offer your expertise to the the leaders in the industry at the same time look for organic growth of your best customers.
This is a must for every business owner or sales manager. Understanding the sources of revenues and their relative impact on profits is of utmost importance in terms of focusing your business development efforts on growing business with the most valuable customers.
Enjoyed listing to your presentation and I look forward to receiving the information that you will be providing.
Thank you
Michael Dowda
This sounds very helpful and logical, a precise way of looking at the sales process.
I need this tool to analyse my client base now - it will be good to have some direction to help us achieve our sales goals
This was great, I'm going to implement it.
Great sales tool, I look forward to implementing it soon.
Great tool, wonderful work gents!
Do you have samples of campaigns you or others have done that have created outstanding results?
Great advice. thanks!
Makes a lot of sense. Can't wait to share it with my colleagues and try out the tool.
Great presentation...loved it.
Well-presented and to the point. I'd like to work with the spread you've created.
Thanks for the tips, coach!
I enjoyed your presentation. I have always felt that although a high level of sales activity is important, the quality of the activity outweighs the numbers. For example, the quality of calls or face to face visits is more critical than the quantity for generating the best results. I usually do the 80/20 evaluation, and last year, for example, 13% of my customers produced 85% of my sales. I am interested in using your 50% formula. Thank you.
Katie
I am impressed what I have read and plan to put it into action Monday when I go to work. Thanks again.
I have put a weak effort toward this in the past.
I enjoyed The Buyers Pyramid!
Very enlightening
Excellent presentation. The pricipals here will apply to most industries.
Great presentation.
I am hoping to receive the slides for The Buyers Pyramid. Thank you.
We are in the process of updating our sales comp. plan. I have been searching the web for ideas and very few seem to address the printing industry. Any thoughts or suggestions? I found a couple of books on the PIA/GATF site but past purchases have not been much help.
Thanks in advance.
Great presentation!!
I think your strategy is right on. I have heard this strategy but never seen it presented this way. Great Job.
Interesting.
This makes perfect sense.
I have been a print sales rep and business dropped last year for me. I am looking forward to any tips that are available to increase sales.
Thanks
Great Audio video, please send me more similar information in the future.
Question- Do you have some advise on selecting the best prospects in the current market. How to find the best 20% prospects if you are starting new in sales for example.
Very helpful and timely info - Thank you!
Hello Nick,
Great presentation!
To add another dimension to your model, I would also look to continue to reduce your time per customer. For instance, if you average 20hrs per client per year, if you can change that to 10hrs per client per year, you have effectively doubled your sale. As you continue to drive down the time spent per client, your sales shoot up exponentially. By improving your time per client to only 5hrs/year, you have now quadrupled your sales potential. Combine this with the Buyers Pyramid principles and you have a tremendously large lever to pull to generate unbelievable revenue.
The question now becomes "How do I reduce my time per client and still bring in the same (or better) revenue?"
That's my secret and you'll have to contact me to find out
OK, OK, I can't help myself. The NEXT big lever to pull is increasing the speed at which you close the sale when bringing on new customers. Again, by halving the time to bring a new customer on board, you will double your sales. So take all of the advantages you receive from above and DOUBLE IT!
I'm such a tease, you have to contact me to find out about that one too!
Thanks again!
Sincerely,
Alex Kollitz
ezprintsite.com
Hey Nick, I had to come back to the video to find your Gold offer. Remind me to talk to you about the three buying stages and the common misconceptions about them!
Thanks Again!
Always refreshing to see original thinkers!
Alex Kollitz
ezprintsite.com
Great Information. We all need a reminder of how to better run our business. We get in a rut...thanks for the information
Darlene
I'm interested in learning more.
Great webinar. Really details where we need to focus our energies.
I had heard the 80/20 rule before but seeing it put to use and appling it to my owm business is like a light bulb going off. A grteat way to kick off the new year!
This may be something that can help our company jump start sales. Thanks for sharing the information.
This makes perfect sense!I particularly like the idea of a system which allthe staff must be aware of for the "1st Class Customers"
For Mike Olson
There is a Chinese saying that 'a man with two watches never knows the time'. Pick a strategy with a high likelihood of success and follow it. I've followed the law of small numbers for years with a lot of financial success. My clients do the same. It seems counter-intuitive which make it more difficult for people to really grasp the idea to they stick with it. See the note to Jim below and see the blog comment from Patrick Murphy. VistaPrint follow the Law Of Large Numbers. I would say you can follow both strategies... you'll end up with exactly what you have now.
For Jim Stiles
Our rule with our sales team it to have 10 to 12 qualified prospects in the pipeline all the time. They have to meet our 'ideal client' profile and each client must have a next meeting scheduled in the diary. That way we know we have a well qualified pipeline of prospects. Following that model, we have more success than failures. And the successes are larger.
For Ed Collins
Great set of questions... especially the one relating to digital. What I've proposed in this video takes time to fully implement. The end goal is what you want to focus on. Don't think of digital as a piece of technology which does short run color. Think of it as a capability that allows you to better serve your ideal clients. We use digital in our company. But it's mainly use for Print On Demand requirements for large companies. That was not always the case, but it's mostly the case now.
We are now focusing on getting all our larger clients and prospects under contract. Our goal is to walk in the doors of our business on 1st Jan next year and have guaranteed income of £x already secured for the year. We are progressively moving our very small clients to another printer so we can focus on what we're becoming progressively better at... serving the needs to larger customers.
For Greg Kamp
Good question Greg. One strategy we've consistently focused on has been to better understand the needs of our customers / prospects and then find new services that meet those needs. Some of our new offerings are product and some are services. The industry forecast is that in 10 years time 70% of revenue will be services and only 30% print related. So... find new services you can offer to existing clients and find new prospects that meet the profile of your current best customers. See the Prospect.ology video for lead generation ideas. As you said in your comment, outsource where you need to.
For Bob
Not sure what you mean by 'samples of campaigns'. If you can expand on that I'll see what I can suggest for you.
For Dirk Swisher
You need to get the business growth fundamentals in place. Who are you trying to sell to = who is your ideal client? What are you trying to sell to them = what is your value proposition? Once you know the 'who' and the 'what'... then you build a list that meets that profile and focus on the top 20%. That's pretty much what we did when we started. You'll usually find you have to revisit the cycle on a regular basis... as your experience in the market evolves.
For Alex Kollitz
That's funny. I like your style. If you want to arrange a chat visit the 'contact us' link at the top of the page.
Great, will run tool over figures.
It's great to finally come across someone that talks and has great advice for our industry.
Always listen to new ideas.
Creative thinking
last one was interesting
this is just what I need to do in 09 - more high value customers
Sounds fascinating, hope it works for us
looking forward to learning more
I am into anything that is worthwhile in the sales process and delivers results
How refreshing to see the "rules" turned upside down.
just left a company for the same reason, owner couldn't and wouldn't understand that spending everyday calling on clients that spend $500 per year was not going to increase his business or pay for his new digital press.(They didn't even know who their top clients were?)
Thanks for sharing your ideas
Excellent! A great explanation and tool for all sales personal for business analysis. I have used this philosophy in the past but have never seen it explained so well.
Makes you look at what and why you are doing what you have always done.
This is just what we need to help me focus our sales/marketing effort for 2009
Thanks for this...good to listen to other perspectives!
cant wait to see this
sounds like a great idea, can't see the video but would like the slides
Anything that helps to improve sales, I'm keen to look at
I have used the 80/20 rule for approx 40 years and have found that prioritising the top 20% of the customer base has paid off in additional revenue. Also by growing customers from the other 80% to join the top 20% has been successful. I am interested in the 50/5 and 5/50 ratios as this would allow more concentration on the higher contributors and gives more of a focus on the type of customers, types of businesses and products for market and poduct mix.
Found this article very interesting - want to get another copy for our manager
Good ideas. Main problem for us would be in finding prospects like our current top customers.
This is very good information. We currently evaluate the 80/20 but have not done an evaluation of the 5/50. I am looking forward to using the tool to plot our customers.
Great presentation. I will try this today.
Mike
Just Love Nick's Stuff!
I Am interested in growing my business.
This is a great program and hope to benefit from the implimentation of these ideas.
Looks good
This was very informative, thank you.
I do have a couple of questions. Are the annual revenue numbers based on gross sales? If these are gross sales, how important is the profit margin on a particlular client in this analysis?
Bill
For Bill
The profit numbers are extremely important and this gives you some other things to think about. From my experience, few printers have the profit numbers on their accounts... they just have the revenue numbers. If you have the profit numbers I would do the analysis twice - once with revenue and once with profits. Then see what stands out for you. Do you have large clients where you are making no profits... you'd be surprised how often this happens. Do you have smaller clients who are very profitable? Which accounts really value what you do and will be loyal to you? Which accounts can you penetrate with more products / services? Who will give you testimonials and referrals?
Your ultimate goal is to find your best clients, which will be some combinations of revenue and profits. Put a ring of steel around them by using customer model 4 strategies and giving them red carpet treatment. Then see what you can do to find more like them.
I have downsized to the point were I need to generate the sales myself. This is the concept I am going to use. I'll let you know how I'm doing.
This is great.
Wow. Thank you for helping me refocus as we are beginning this new year in a scary economical situation. I would love to learn case studies about campaigns for specific customers that have proved fruitful. Specifically design agencies if possible. Many, many thanks!
Already begun the analysis of our customers and intend to review this and the current prospects with our sales team
I've looked at our sales numbers from the opposite angle - making sure that no one company has too big a piece of the pie, but not taking into account that the top 5-10% needs more attention and to find more of the top 5-10% type clients.
I am very excited to get started. I have wasted time on very small customers. What is the fasted way to qualify a new customer?
Looking forward to thinking this through.
I received some excellent ideas from your presentation. I did pickup one of those Large Customers this past year, but truly didn't analyze what all went into it. As a Sales Manager I am looking forward to checking out the slides and excel tools in great detail. Thanks for the inspiration.
Which types of companies will Benifit from the Stimulus Bailout can the print industry focus on to grow?
Love/hate. Love the reminders of what I know. Hate the reminders that "It is not what you know it is what you do".
We do have our Premium clients (7-10 at any one time) and staff have that list. We do look after them although not to the extent that you suggest.
But we don't explicitly tell those clinets that they are in our Premium group. Should we and if so why/why not?
I will be implementing the program immediately.
I really liked your presentation,it was a great reminder and pick up a few nuggets. Thanks
For Nancy
Go watch the Prospect.ology video. It will show you how to get all the prospects you could possibly sell to. It's listed on this blog.
For Ken
YES! Tell them. Imagine if you got a call from your accountant tell you that they had just places you in their Platinum customer group. Would you feel important and special? Imagine if they then explained the higher level of service and customer care you would receive because of that. You get the idea... Happy Selling.
It's so simple, but only when you are told to think about it. We have spent months chasing the customers who spend less with us letting our bigger customers tend to themselves. We have just had our eyes opened.
Thanks Nick
Great info, I will need help from my team to implement these new strategies
I use the buyers pyramid idea to get more printing orders from my current customers. I took the top 100 customers and split them between my CSR's and we must touch each customer once a month.
I understand the 80/20 rule. Once you decide on the potential new prospects do you have any suggestions on how to attack these new prospects?
The 80/20 rule really works I've been using this rule on a limited basis over the past couple of years but I would like to take it across all areas of my business.
Thanks for sharing the excel formulas you've taken the time to create. I can't wait to properly identify my top customers.
Respectfully,
Alex Buelvas
GREAT video!!! You put into focus one of the greatest ideas I've heard in MANY years! I knew the economical slow down actually offers me "opportunities". Thanks to you, NOW I know exactly where/how to direct my time and energy this year to the greatest advantage.
what is 'the buyers pyramid'? i have no clue
The challenge is for reps from small companies to convince managers that door knocking isn't a good use of time and rescources.
Thanks for the presentation. I'm anxious to use the strategy within our customer base.
Very focussed advise for re-prioritizing a print business'limited sales and service resources.
I have heard of the 80:20 Principle, but had not realised its power.
We are small printing company and at the beginning of the year lost on of our main accounts. This and the downturn has affected us a great deal, so we are seeking ways to re-grow the business. This is something we can start to focus on immediately. Thank you.
Very interesting, I have worked on something similar using my own ideas. This really underlines why it works.
Very cool, you may have made me a believer.
Nice
Print Coach,
Would you rate the print industry more competitive, or less competitive to other industries/services you've sold?
relationships, relationships, relationships
Very Informative!
This has made me much more confident in our current marketing strategy which is very targeted. I see how this can generate better opportunities.
Did a similar analysis - very surprising!
I can't wait to get my hands on your Excel Tool. This makes so much sense to me, but I have not had the means to make it work. Thanks!
Simple, yet so true, I will be using your tool in a new role I'm starting in a few weeks as a national sales manager.
Great video. The 80/20 rule definitely applies in our company.
Thank you
makes sense
More good ideas and practical steps.
Response for Wayne Wilson
Good question... I'm a partner in 3 companies in 3 different industries outside the printing industry. The issues are nearly the exact same. I was with one of our companies yesterday. When I looked at it 2 years ago I could see the trend was to commoditize the product we sold. This is exactly what is happening with 'ink-on-paper'. I decided on a strategy to add value with a new proposition we developed. Now... about half our business is coming from new areas with higher margins. The transition can take time... but you have to do it.
Thanks for participating on the blog
Nick
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I need to build about 6-8 more clients just like my best one. Now I have the tools. Thanks, Doug