is Business Growth Coaching?
It is about unlocking the untapped
potential in your existing client base and exploring new
ways of growing your business. We also urge you to involve
all your team members - whether or not client facing or
sales focused to discover hidden ideas which may not have
been actively considered - many heads are better than one
Having trained with Peter Thomson of PTI (Peter Thomson
we have a range of simple but effective tools available
to help you uncover and gain the benefit of windfall profits
which may be lying dormant in your business such as:
- Goal Setting
- The 3 Key Questions (see below)
- The Magic Matrix
- Systematised Referral Process
- Branding and the Perception of Price
- Time Management
- Client Retention Strategies
- The Action Agenda
you ever asked yourself and your team the following question?
Are we maximising and
realising the true potentiality of our clients and customers?
This process can be started with three accelerator questions
which we would explore with you.
How many customers do you have? This
information can be accessed from existing records and
(2) The second question is what do those customers
spend with you in total? To keep this simple
it is easiest to base figures on their annualised spend
with you. Again with some research, these figures can
(3) The third and most important question - ‘How
much could they spend with you based on your current product
and service offering?’ Or put a different
way "how many of your clients or customers are
multi-sourcing or buying elsewhere products and services
which they could be buying from you?"
clients don’t know the answer to this last question.
To find out the answer, we set a project plan for your
customer service or sales people to go and speak with
all your customers – making sure they educate them
on the full range of products and services they can buy
from you. Using some well thought out and structured questions
that we would prepare together, they can ascertain areas
of business which may not have been realised or explored
earlier thereby accessing additional sales potential in
your existing customer base.
It is a well known fact
of business, that it costs more to develop a new client
relationship than to nurture an existing one. At the end
of the day, ‘people buy people’ and the value
of good relationships cannot be underestimated.
Having done this exercise and met with some of the responses
which typically come back from customers and clients -
“I didn’t know you did that”, or “I
had never thought about coming to you for that product”
- being just two - sales and customer teams can immediately
see the value of the exercise and are motivated to go
the next stage of realising additional sales.
You have already invested time and effort in developing
relationships with your customers – they’ve
already bought from your business – already bought
into your brand, bought into you and your team –
now is the time to realise the worth of the true potential
which may be within your grasp.
This exercise has been done with hundreds
of businesses and has consistently realised ‘the
potential spend of existing clients v their current spend’
amounting to at least double - and has been as high as
ten fold the current spend.
We wonder what this figure would be for your business?
Perhaps it would be worthwhile if we ran a session with
your team and you answered those three focused questions.
To find out more contact Gill
King, our Managing Consultant.
Additional Resource - sign up for Peter Thomson’s
free TGI Mondays newsletter (http://www.tgimondays.com)