Serving the Top 20% of Your Clients

How does the behaviour of the top 20% of your clients are like? Why must you serve them better than the rest? Basically, there’s a majority group of people out there (about 80%) who are very “stingy” in one way or another. They are all very nice people out there. But it’s just their in-maturity thoughts with finances that caused them to be abandoned by the top performing companies and focus on the 20% of the people who are matured.

Basically, this 80% of the people is quite in-mature in their financial thoughts. Whenever it comes to talk about money, if they are being “taken advantage of” in one way or another, they just can’t feel relaxed at all. They think they can be taken advantage of by “over-pricing” them with the value of products and services that you have provided. It could be because they have took up your product, and found another company having a cheaper price and they are not feeling good about it. Or it could be because they simply cannot feel the value of your products and services that they are paying for.

For this kind of people, I would usually want to give up as much as I can. Sometimes, I don’t understand how they can do business with this kind of mentality as well. While they are so stingy with their money, they still want to make their customers pay as much as possible. Though it is a little contradicting of the reflection, I believe they wouldn’t be able to maximise the potentials of their business at all.

Adii mentioned in his blog about the Best Kind of Clients. This actually inspired me to write this blog post because I have a lot of experience with such clients as well. Sometimes, these clients made me think twice whether I should spend more time and effort with them.

I remember Brian Tracy mentioned in his books or audios somewhere that we should focus on the 20% of the business to create 80% of our profits. That is so true. There is this 80/20 rule no matter what. And the interesting part which he mentioned (If I am not wrong) is that for the 80% of your clients, you may want to give them to your competitors to fulfill their needs since they may need more business and you could build better relationships with your competitors.

Anyway in the offline world, there seems to have a problem between the competitors to do a joint venture business. It is especially true for multi-national companies because it involves too many people to make such a joint venture to come true. Joint venture is such a beauty in the online world where we help to give the best to our customers who can fulfill their needs and wants.