Choosing the right customers:
So the key lies in the ability to choose your own customers to ensure a healthy business without being selectively misguided.
To increase your profit margin
Choosing a customer better often means accepting more profitable contracts for the company. Accepting any contract often amounts to neglecting the margin in favor of numbers and overloading your teams. You will need to choose wisely your customers sometimes to increase your price so that only the best remain.
To avoid being a complaints service
Choosing customers is often like avoiding complaints. Customers, better selected and better treated, become a source of a greater profit. As a result, you can spend more time developing your brands and less time responding to complaints.
Choose your distributor to avoid always looking for new customers
We know that buying a customer is expensive. Especially if you compare the acquisition to keeping an existing customer. Many entrepreneurs spend their time searching for new customers and are very proud of their performance in terms of customer development. However, it is always better to keep your current customers to avoid having to do more prospecting in the future. Indeed, renewal is less expensive and therefore more profitable.
To improve your service or product
We learn more from our customers then you might think. Choosing a customer who will give you feedback will allow you to compare yourself to the competition and improve your service or product. You will need to open up to your customers so that you can improve and avoid unnecessary investments in market research. Look for a better understanding of your client and you will not regret it. Analyzing your client will allow you to better understand its different needs and who knows ... to develop a new product.
There are many other reasons to choose your customers but remember that even though selection is essential, satisfaction is also important.