Are You Building A Sustainable Business? Increasing Your Clients’ Revenue Is The Quickest Way To Win More Clients
What I mean by this is not about the “green” side of business but about the value that you provide for your customers. A sustainable business in this context is defined as a business where users (clients) receive more value back than they put in to it. Sounds simple? Well it’s surprising how many people ignore this simple rule of thumb.
Take for example a simple distributor to retailer relationship. The distributor goes to it’s vendors and negotiates the lowest price possible because of it’s large size. Also most large distributors have a distribution network which allow them to get a product to it’s destination quickly and cheaply. For all this the distributor takes a small piece of the profit.
Is this a sustainable business? Yes indeed it is… for every $1 a retailer spends with a distributors they will be able to create let’s say $1.50 of revenue. This way the more a retail purchases from the distributor they will then themselves see a greater return.
If you are able to do the same for your clients you will have one of the easiest sales possible. Walking into a potential client offering to create $1.50 of revenue for every $1.00 your paid will be the fastest way to win a new client.
Is your business sustainable?
Not all products and services can be this easily correlated from money spent to money received. Let’s say for example your a consultant that designs web sites for small businesses. It is difficult to prove direct correlation between your new site design and an increase in that client’s bottom line.
How can I make my business more sustainable?
Let’s take the example from above… The most important part of showing your client where you can add value. One way to do this is by using analysis of the metrics around their lead generation. Performing an A/B Test of the site before and after the redesign you can prove to your client where you can add value. In this case I would recommend that you setup a test to specifically show your client the rate of conversions before and after of the site design.
Knowing that you will be giving your clients these metrics will have you thinking how to provide the most value possible thought your work. This is always good for both you and your clients.
This will help provide you with amazing endorsements for your business. It may come in the form of something for example of when a past client tells a friend “XYZ Design Company helped me increase the conversions on my site by 45%”. Endorsements like this are guaranteed to get people’s to pay attention.
Showing that you can provide real tangible value is by far the quickest way to increase your own bottom line.
What do you think about this? I would really like to hear your feedback in the comments section below.