7-video series explains the exact process you can use to increase your business profits by focusing on your top clients right now.
What if you could duplicate your existing top clients?
What would happen to your business if you could clone replicas of your top spending clients?
What would your sales look like if took your top 5% and your top 20% and copied them?
By harnessing the Principle of 80/20 you can begin to do that. You’ve more than likely heard of 80/20 by now. Everybody is using the term but so few understand it’s power. You see, it can apply, to everything including your customers and clients.
By definition the Principle of 80/20 is this – 20% generates 80% of your revenue.
A great rule of thumb to memorize for business is this.
The top 20% will spend 4x of what the average customer will spend.
And the top 4% will spend 16X of what the average will spend.
This can be applied to every industry and every type of business. The only time it doesn’t work is if you haven’t established a client base. But what’s even more incredible is how it applies to profit.
This comes from the book Profit First by Mike Michalowicz.
A Chicago based growth firm analyzed the revenue, cost and profit breakdown of 1000 companies. They sorted the clients of each company into 4 sections based on revenue by quartile. So if a company had 1000 clients the top 250 were put into a quartile 1. The next 250 in the next quartile and so on.
What they found was the top quartile generated 89% of the revenue and the bottom quartile only generated a measly 1% of the revenue.
Now for the more staggering profit numbers.
The top quartile generated 150% of the company’s profits. The middle 2 quartiles were break even and the bottom quartile- the one that only generated 1% of the revenue – resulted in a profit loss of 50%.
The bottom quartile is actually costing you money and is getting paid for by the top clients.
This is why you need to focus on duplicating the clients that are just like your top clients and stop chasing everybody.
You need to focus your attention on your top clients – who they are, what are their characteristics and their industries.
And this applies to either B2B or B2C businesses – if you have 20 clients or 20,000. Once you identify who your top clients are then you can uncover what they want and innovate your business to serve more like them.
You’ll also be able to focus your marketing and sales system to attract more like them.
If this sounds like something that could push your business forward :
If you’re tired of chasing everybody for your business.
If you’re not sure what advertising and marketing is working and not working.
If you want systems that run on autopilot that take care of your top clients and attract more just like them.
If you want better clients ones that will pay you and treat you like your other top clients.
If you’re thinking about how much money you’re leaving on the table by not getting more just like them.
If any of these are true then click the button to get access to a 7-video series that explains the exact process that you can start using to implement in your business right now.
We’ll send you the exclusive access now – so get access above and we’ll see you in the other videos.