Prioritizing Short-Term Sales Over Long-Term Customer Quality
Are you prioritizing sales over customer quality?
Here's the downward spiral:
- A high-quality customer "HQC" leaves.
- You quickly say yes to a low-quality customer "LQC" (to replace the revenue)
- LQC steals resources away from HQC
- Another HQC leaves, repeating the cycle
Here's the 80-20 on how to get off this downward spiral.
First, build your "20% List." This is the best HQCs in your vertical market (i.e., the top 20%)
Then, put 80% of your sales and marketing efforts into courting them as clients.
Consistent effort on your 20% List leads to more HQC sales opportunities, putting less pressure on LQC to fill the gaps.