When acquiring new customers, how do you decide who’s a good fit?
Every company has an ideal customer. It’s just as important for us to make sure our customers are a good fit for us as it is for us to make sure we make the right office technology recommendations for our customers. It isn’t simply a matter of finding a company who is willing to buy from us.
In a perfect world, all of our customers would appreciate the value that we both bring to the relationship. Maybe there is a common sense of environmental responsibility, or both companies are dedicated to supporting and improving the community that they live and work in. Or more fundamentally, the companies that we want to do business with share the same set of company Core Values.
At VBS we are always looking for customers who are a good fit. By good fit we mean a client who sees the value beyond just getting a good price. Our best customers value the knowledge and experience that we apply when we solve their most challenging business problems. They have a common vision of purpose and they share many if not all of the same company Core Values.
Identifying the ideal customer has a number of benefits that help us streamline our prospecting efforts and improve the efficiency of the customer acquisition process:
Ease of Qualifying Prospects: When we realize that a prospect is not a good fit, we can document the reasons why they are not a good fit in our CRM system and move on. This approach allows our Sales Team members to focus their efforts on leads, prospects, and buyers who are more closely aligned with our profile of an ideal customer and our company Core Values.
Probability of a Long-Term Business Relationship: When a prospect is a good fit with our profile of an ideal customer, the chances that that company will become a long-term business partner increases significantly. The cost of doing additional business with a company that you are already doing business with is much less than the cost of identifying and acquiring a net new customer.
It Improves Your Profit Margins: When we find a prospect that values the other intangible benefits that our company brings to the table, they are less likely to buy based strictly on the lowest possible price. That means that we can make a fair and reasonable margin on the sale which improves the long-term sustainability of our business, which in turn improves the odds of a long-term, win-win business relationship.
Think about the process you go through when you make an important personal purchase. You will prefer to spend your hard-earned money with a company that you trust and whose Core Values align with your own. You will be much more likely to provide an outstanding review for that company and you will be much more likely to recommend that company to a friend or family member. The logical extension of this level of customer satisfaction is a high Net Promoter Score which is a reliable indicator of future repeat business.
Here are some of the common attributes we have seen that indicate a potential good fit with Virginia Business Systems:
Some of our best clients have been pleasantly surprised by the positive contribution our products and services have had to their bottom line. But the common denominator they had was a clear picture of their future success and what it would take to get there.
The companies that were growing, or were interested in growing their core businesses trusted us to help them reach their vision of the future. These companies were a good fit for VBS.
Let’s face it…many companies do not embrace change. Change sometimes means additional time and financial investments, unfamiliarity with new processes and systems, or training on new software and hardware.
Our best customers are willing to take calculated risks in order to advance their businesses. We want clients who embrace change and see their willingness to accept some risk as a competitive advantage to keep them ahead of the competition. Business owners who see the value of investing in change will always come out ahead of those companies who are afraid of risk and do nothing.
There are many ways an organization can successfully invest in technology which makes them a good fit for Virginia Business Systems.
The ideal VBS customer sees beyond the up-front purchase price. They see the value of the knowledge and intellectual capital that comes with doing business with VBS. They also see the long-term savings that come with improved efficiency and streamlined business processes.
There may be some additional investments that are required when switching to a new provider, but the long-term benefits our customers reap over the course of the business partnership outweigh the relatively modest increase in the initial changeover. When we show a prospect a breakdown of our services and fees and compare it to what a customer is currently getting for their monthly spend, it’s almost always a compelling proposal to make a VBS decision.
When we find a prospect that values the long-term benefits that our company brings to the table, they are less likely to buy based strictly on the lowest possible price. That means that we can make a fair and reasonable profit on the sale which improves the long-term sustainability of our business, which in turn improves the odds of a long-term, win-win business relationship.
Every good relationship is based on mutual trust. This is true for business relationships, personal relationships, and even romantic relationships. Our best customers trust us to provide quality products and services, and they trust us to give them sound advice, and perhaps most importantly they trust us to stand behind our company Core Value of “Doing the Right Thing”.
An ideal client for VBS is one who values our knowledge and experience, based on our 65+ years in the office technology space. These customers see how we’ve grown by being true to our brand and to our company Core Values and it enhances their sense of trust in us and what we bring to the table.
We’re building trust with the right clients, the ones who took a chance on VBS, and who share common values with us and with the companies who fit our profile of a great customer.
At this point you’re probably thinking, “Well, we fit into some of these parameters, but not all of them. Does this mean we’re not an ideal VBS customer?”
Ask yourself a few additional questions. Is your company fully committed to learning and growing? Are you ready to improve your business processes even if it might be a little painful at first? Do you have a set of written company core values, and do they align with ours?
We are Committed
We are Passionate
We are Respectful
We are Client-Focused
We Do the Right Thing
If you answered “Yes” to any of these questions, we have important values in common and we should have a conversation. To schedule an appointment with one of our knowledgeable technology specialists, please complete our contact form here.