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Week 45 - Drop and give me 20

By
Services for Real Estate Pros with The Prescott Group

Drop and give me 20! (The top 20% of your clients that is..)

“So, how do I know who are my top 20%?”

Ask two questions:

1. “Who are my most profitable clients according to my financial sheets?”

Measure each customer’s ROI by the profits they’ve generated for you this week/month/quarter/lifetime.

2. “Who are my profitably-hidden clients?”

Don’t confine yourself strictly to financial docs. Several members of your actual top 20% won’t be so profitable on your financial docs; however, they bring with them lucrative associations that make you more profitable. For instance, those associations can include key people connections, a juicy source of referrals, priceless feedback/tips/advice on your business, industry expertise, etc.

Why Catering to Everybody Sucks

What is your booty essentially doing when you’re catering to everybody? You’re working ridiculously harder to generate a much smaller pot of Benjamins. That is, you’re expending more time, resources, headaches to serve a group of customers that give you minimal results — relative to your super-extraordinary customers.

Consider Cheap-Ass Chappy.

  1. You’re providing marketing services to his “super-awesome” business.
  2. Chappy needs five of your company’s top “personal” marketing consultants because he thinks his business is “The Bomb!”
  3. Really, Chappy’s business is a pathetic piece of scam trash that barely generates any profit to feed his self-absorbed narcissistic personality. So, he rarely pays on time — if ever.
  4. He needs you to hand-hold him all-day, everyday — wasting your (1) resources, and (2) precious time.
  5. He needs you to explain things to him five times because he “forgot.”
  6. He tries to squeeze out every frickin’ penny from you — so that takes him even longer to pay you.
  7. Profits you generate: $2,000

Now, Consider Kick-Ass Client Tomas.

  1. You’re providing marketing services to Tomas’s company.
  2. Tomas runs a $10 million financial service company filled with super-happy clients. They love his service.
  3. Tomas doesn’t micro-manage you. He lets you do what you do best, and gives awesome input.
  4. He pays you on time, orders more services from you, provides you with fresh leads, and even gives you financial advice.
  5. Profits you generate: $8,000

Relative to Cheap-Ass Chappy, Tomas took less of your time, caused you less headaches, kept your morale super-upbeat, conserved your people resources, and drove you to kick major booty everyday. Most importantly, Tomas gave you a much bigger bang for your resources. What’s the key for your badass, then? (1) Drive away customers like Chappy (more on this later), and (2) start finding more customers like Tomas.

Click here for the full article: http://www.trizle.com/tips/443-why-most-of-your-customers-suck

 

Comments (2)

Barbara Hensley
RE/MAX Properties - Rockwall, TX
Homes for Sale in Rockwall County, Texas

WOW - I felt like I was actually in boot camp for a few seconds!  Thanks for providing excellent information - this is the time to be making our plans for the new year.

Nov 16, 2011 02:31 AM
The Prescott Group - We Make YOU Look Good!
The Prescott Group - Minneapolis, MN

Thank you for your comment. This is most definetly the time to be planning for 2012. We hope you have a successful year.

Nov 30, 2011 10:57 AM