If you choose the right customers this can have a huge impact on your profits.
Agencies have a tendency to focus on one or two big clients, but that can be counter-productive. Lose that customer and the majority of your revenue is cut in one stroke.
The solution – broaden your client base
Don’t rely on one big customer paying all the bills – that’s a risky strategy.
You need to broaden your client base and work with a real cross-section of businesses. This reduces the risk of losing that major client and increases revenue.
8 ways to find the right customers
- Avoid relying on one or two very large clients
- Get a better view of your customer numbers
- Understand what percentage of revenue each client brings in
- Regularly review your clients to see if there are any issues
- Find new customers and diversify your client portfolio
- Look at leads and targets in new sectors and industries
- Spread the inherent risk by expanding your client base
- Ditch the customers that aren’t profitable