Your best clients tend to be your most profitable clients, so revenue, profits, and your client base are all intertwined. Focusing on the clients you are best positioned to win is a great way to drive growth and revenue.
Let's take each in turn.
An under-appreciated path to growth is focusing on winning more of your best clients. If you could clone some of your clients, the ones you would clone are your best clients. These projects and clients close at higher rates, close faster, and generate more leverage such as referrals. Best clients also tend to be the clients a firm's professionals most enjoy working with, so there's an important added bonus.
How do you win more of your best clients? Well, that's my passion, so look around this website. The short answer is that if you want more of your best clients, you must understand why these clients select your firm over the many other options they have. Most of those options look similar on paper.
OK, So You Win More of Your Best Clients.
Your best clients are those clients who see the greatest value from your work, appreciate you the most, and are the most enjoyable to work with. Build your marketing and business development around the real—not superficial—reasons why your best clients select your firm over other options and you turbo-charge every aspect of your marketing and business development. Focusing on the right prospects with the right message from the start helps these prospects select your firm faster, thus shortening the sales cycle.
Long and drawn out sales processes become expensive quickly. A more compact and efficient sales cycle generates more revenue at less expense, the very definition of profit. Many of the firms I work with now do fewer proposals, but win a very high percentage of what they go after.
The revenue impact shouldn't require a mental leap at this point. The objective of some of the firms I work with is to grow profits while others are out to increase both revenue and profits. For those who want to grow the top line, there is no better way to grow revenue than by positioning their firm as the best choice for targeted prospects. Clear positioning around why your best clients select your firm (there it is again) also creates leverage as you make it easier and safer for existing clients, partners, peers, and colleagues to recommend your firm to others.
Too much marketing these days is disintegrated activities. Keeping your eye on the big prize and a clear path to get there pays off handsomely.