Craving a solid strategy to reel in profitable clients? You've landed at the right spot. This post will guide you through a strategic rethink of your marketing approach aimed at securing those top-tier clients. Let's set your business on the path to success.
Here are 5 actionable steps small business owners should take to build a more targeted marketing strategy that focuses on the top 20% of their clients:
1. Identify your inspirational clients
Every client is unique, but the best clients inspire us. As seasoned professionals, we've all had experiences with a range of clients. Some are simply a joy to work with; they appreciate the value we bring, respect our advice, and engage in a genuinely collaborative partnership. They inspire us to do our best work.
Conversely, there are clients who pose more significant challenges. And while these challenges can lead to growth, wouldn't it be wonderful to work primarily with clients who inspire us and contribute significantly to our bottom line?
Avoid the "All Things to All People" Trap
I've found that businesses often unwittingly fall into a trap. It's not a trap they've intentionally walked into - it's more of a pit they've stumbled into. That pit is what I like to call the "all-things-to-all-people" trap. Does that sound familiar?
Being all things to all people can lead to inconsistent engagements, value, and, most importantly, inconsistent profitability.
Reflect on your past and current client roster, and identify your ideal clients who inspire you the most. They are usually those who appreciate your value, respect your expertise, and engage with you in a collaborative manner. Make a list of these clients and note down the characteristics that make them stand out.
2. Understand your golden trifecta
I'm here to tell you that there's a better way. In fact, there's a strategic way to avoid this trap. It starts with identifying your top 20% of clients, but it's not just about sales volume. We're looking at a bigger picture here - profitability, experience, and referrals. The golden trifecta, if you will.
My experience tells me that the clients who are profitable and refer you to others are likely your top 20%. So, what do we need to know about them? Make a list of…
- Which clients generate the most profit?
- Which clients consistently provide a positive working experience?
- Which clients frequently refer your business to others?
Download our AI Prompts for Building a Marketing Strategy
This toolkit can help you develop a complete marketing strategy to attract your best customers. It's a step-by-step approach designed to boost your marketing efforts, enhance customer retention, increase online visibility, and improve ROI.
Your marketing strategy should be the backbone of your business - a roadmap leading you toward your growth goals. By identifying your ideal customers, creating consistent branding, and tracking your performance, you can start working smarter, not harder.
3. Dig deeper into their challenges and needs
Once you've identified your top clients, the next step is to understand them better. What challenges do they face? What problems are they trying to solve? Why did they choose your business over your competitors? The answers to these questions can give you valuable insights into what attracts these clients to your business.
4. Start repelling the wrong clients
The beauty of this approach is that it allows you to refine your marketing strategy. You're not just attracting more clients - you're attracting the right clients. This simple shift can instantly make your business more profitable, reduce the amount of work you're chasing, and even help you repel the clients that aren't a good fit for your business. Yes, that's right - sometimes repelling clients can be a good thing.
Trying to be everything to everyone confuses everyone - including you and your team. It doesn't attract the right clients, and it makes it challenging to create a predictable customer journey with your marketing. It's difficult to understand the behaviors that attract the right clients and even more challenging to retain clients and get referrals unless you're working with the right people.
The bottom line is, working with the wrong client, working with an unprofitable client, or a client that you've underpriced and therefore can't deliver value to, isn't just frustrating - it's costing you more than it's worth.
With a clear understanding of what attracts your top clients, you now need to refine your marketing messages to attract more of these clients and repel the wrong ones. Your marketing messages should communicate the unique value you provide that addresses your top clients' specific challenges and needs. This doesn't necessarily mean turning away business but rather focusing your energy and resources on attracting clients that are the best fit for your business. Following these 5 rules, can help you attract the right clients to scale your business.
5. Formulate your marketing plan and strategy
As a part of your marketing strategy, I invite you to take some time to identify the top 20% of your clients. It's a simple but powerful exercise. What you might find is that this select group of clients would happily do more business with you - in fact, some might even do ten times more business with you. There's a huge potential for growth and building momentum with these clients, compared to the occasional one-off projects or clients who just stumbled upon you.
Use the insights gained from the above steps to shape your marketing strategy. The strategy should aim to attract more of your top 20% clients. Consider the marketing channels they use, the type of content they engage with, and the language and tone that resonates with them. Also, remember to adjust your pricing if necessary to reflect the value you're providing.
Remember, this process is iterative. As your business grows and evolves, so too will your top 20% clients. Regularly revisit these steps to ensure your marketing strategy remains focused on attracting the most profitable and satisfying clients for your business.
I understand that developing a complete marketing plan can be overwhelming, but we're here to help. You can download our AI Prompts for Developing a Comprehensive Marketing Strategy. Better yet, if you'd rather we handle the strategizing for you, book a call with us.
At the end of the day, your marketing strategy is not just about getting clients; it's about attracting the right clients. And those right clients? They're the ones who will drive your business forward, contribute to its growth, and genuinely value what you do.
Let's stop being all things to all people and start being everything to the right people.