8 Ways to Boost Service Business Revenues Part 2 of 2
8 Ways to Boost Service Business Revenues Part 2 of 2
6. Evaluate your customer portfolio to identify high-value segments.
It may not sound nice to say, but not all clients are equal. So it is important to assess which clients are profitable for you.
Identify the characteristics that make your good clients valuable to you. Review your sales records, data on previous clients and other sources to determine the profile of your ideal client. This enables you to define a segment that you can consequently target with your marketing efforts. Consider:
The type of service your clients are buying from you.
The nature of their 'need' that you have addressed.
Their type of business - by industry or by size (e.g. sales, employees, facilities).
The degree of their knowledge of your services.
The nature of your clients buying process (e.g. do you have more success with entrepreneurial style clients, or with more structured buying-decision processes.)
The idea is to focus on your "A" category prospects. Don't get side-tracked by chasing lower value prospects, but we won't forget about them either. Remember, todays "C" category prospect may evolve into tomorrows "A" category client. By focusing on your "A" category prospects you will also generate additional interest from other prospects.
Now you can efficiently target your ideal high-value prospects by selecting relevant media and promotional opportunities, developing an appropriate benefit message, and by implementing suitable sales practices tailored for this type of prospect.
7. Involve your 'back-office' personnel.
In a service business there can be a lot of client contact, and not always by the front-office person (or service provider) in the business. Think about the potential impact of client contact with your accounting/administrative staff, service technicians, maintenance staff, and support personnel.
Identify the "moments of truth" in your business and focus on improving these brief encounters. Also consider possible breakdowns in the delivery of your service and train staff on how to handle these critical incidents.
So try to think of all back-office staff as part-time marketers. Use their customer contact to enhance the image of your firm by improving their skills, involving them in training, and obtaining regular feedback from them on issues affecting clients.
8. Use the Internet to be available when you are not.
The Internet never sleeps, gets caught up on phone calls, has sick days, or is out to lunch. When designed correctly, a web site for a service business can substantially enhance the provision of great customer service.
It is also an excellent tool for generating qualified leads. Your web site is the modern "silent salesman". Use your web site to add "tangibility" to your service business, explain your processes, and to reassure your prospective clients of your ability to satisfy their needs.
Don't get confused by the array of technological options - keep it simple for your clients. A web site will add a 24-hour-a-day element to your business, and can incorporate online systems to automate business processes such as bookings and appointments, payments and the provision of information.
Importantly, by structuring the contact process correctly on your web site, you can help prospects to qualify themselves, and in doing so minimise the time you spend dealing with low value enquiries.
Lastly, always respond promptly to any enquiries generated via your web site. Prospects and customers will judge the quality and reliability of your services by the manner in which you respond to their initial request.
8 Ways to Boost Service Business Revenues Part 2 of 2 - To learn more about this author, visit Stuart Ayling's Website.
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If you want to boost your service business revenues consider these ways to improve customer loyalty and generate more sales - without investing in expensive advertising campaigns.
6. Evaluate your customer portfolio to identify high-value segments.
It may not sound nice to say, but not all clients are equal. So it is important to assess which clients are profitable for you.
Identify the characteristics that make your good clients valuable to you. Review your sales records, data on previous clients and other sources to determine the profile of your ideal client. This enables you to define a segment that you can consequently target with your marketing efforts. Consider:
The type of service your clients are buying from you.
The nature of their 'need' that you have addressed.
Their type of business - by industry or by size (e.g. sales, employees, facilities).
The degree of their knowledge of your services.
The nature of your clients buying process (e.g. do you have more success with entrepreneurial style clients, or with more structured buying-decision processes.)
The idea is to focus on your "A" category prospects. Don't get side-tracked by chasing lower value prospects, but we won't forget about them either. Remember, todays "C" category prospect may evolve into tomorrows "A" category client. By focusing on your "A" category prospects you will also generate additional interest from other prospects.
Now you can efficiently target your ideal high-value prospects by selecting relevant media and promotional opportunities, developing an appropriate benefit message, and by implementing suitable sales practices tailored for this type of prospect.
7. Involve your 'back-office' personnel.
In a service business there can be a lot of client contact, and not always by the front-office person (or service provider) in the business. Think about the potential impact of client contact with your accounting/administrative staff, service technicians, maintenance staff, and support personnel.
Identify the "moments of truth" in your business and focus on improving these brief encounters. Also consider possible breakdowns in the delivery of your service and train staff on how to handle these critical incidents.
So try to think of all back-office staff as part-time marketers. Use their customer contact to enhance the image of your firm by improving their skills, involving them in training, and obtaining regular feedback from them on issues affecting clients.
8. Use the Internet to be available when you are not.
The Internet never sleeps, gets caught up on phone calls, has sick days, or is out to lunch. When designed correctly, a web site for a service business can substantially enhance the provision of great customer service.
It is also an excellent tool for generating qualified leads. Your web site is the modern "silent salesman". Use your web site to add "tangibility" to your service business, explain your processes, and to reassure your prospective clients of your ability to satisfy their needs.
Don't get confused by the array of technological options - keep it simple for your clients. A web site will add a 24-hour-a-day element to your business, and can incorporate online systems to automate business processes such as bookings and appointments, payments and the provision of information.
Importantly, by structuring the contact process correctly on your web site, you can help prospects to qualify themselves, and in doing so minimise the time you spend dealing with low value enquiries.
Lastly, always respond promptly to any enquiries generated via your web site. Prospects and customers will judge the quality and reliability of your services by the manner in which you respond to their initial request.
8 Ways to Boost Service Business Revenues Part 2 of 2 - To learn more about this author, visit Stuart Ayling's Website.
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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