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{ 131 comments... read them below }
Useful approach to identifying those customers that contribute the most.
I learnt that selling isn't purely a numbers game and by targeting similar companies to our top 20 will give us better results. By using the method outlined I will get the information from our accounts database, input this into excel to give me the percentages. I will then look for the similarities between these clients and target new prospects that have these characteristics. Great video! thankyou!
This is great material! Thanks Nick!
Thanks again, Nick. This content is invaluable!
Excellent video for someone who wants to sell more to better clients.
when we first noticed that 80% of our business is coming from 20% of our customers, we were initially worried. After watching this, Iam realizing that this is a norm and can be capitalized upon. Thanks
Nick, listening to you in this video is really imposing. Rarely the speaker admits his own failures in sales and still dares and is brave enough to convince the others to listen to his ideas and believe his promiseses about considerably increased profit. I am really interested to see more especially being so close and work in this print and paper business for years.
thanks for the info, video very interesting
Excellent material. I like the way you laid out the steps for doing this. Thanks
This was very helpful for me. Thanks.
very interesting about the ratio
I am going to try it
Thank you for sending me this online video.
Good basic stuff.
I have used the 80/20 rule before and I agree entirely with your findings.
I see what you are saying, I agree, I have never had success with the numbers approach to sales, partly because I don't have time to do the numbers. My customer base is like under 10% of what it used to be, What if you are really small? Where would you recommend someone starts?
Law of 80 20 fascinating and easy to access that info. In a small market and targeting prospects will save time & money because I do sales as well as production (graphic design) and time is definitely money. Thanks for the valuable insights.
The breakdown of the figures was surprising
80/20 Create priority list for production.
The analysis of my clients and using this to identify the key customers I should target
50% customers = 5 % of turnover
5% customers = 50% of turnover
Video Comment
law of small numbers: apply to targeting design prospects. Brilliant point of view if, as you say, it works!
the concept is excellent and the way of coaching was great
we understand the key concept and the right area to focus. We are already focusing this 20/80 principle and get remarkabale results in bossting our sales.
TARIQ SHAHZAD
PRODUCTION PRODUCTION
ALSHAREEF PACK RIYADH SAUDI ARABIA
00966503160147
I particularly liked the One Page Plan.
List my yop clients and see them more often. Use the more you tell, the more you sell only with top prospects
Video Comment I actually knew that most of my revenue comes from a few customers, but nice to be reaffirmed. We will make the list as you suggested because we do need more sales to get through the winter. This has given me the impetus to start focusing on sales again. Thanks!
I will be sitting down and going through this in more detail and playing a new kind of numbers game. Thanks Nick
REALY EXCELLENT.
ATTRACT MORE IDEAL CLIENTS
For me most valuable ideea from you video was that in stead of try seling to more clients it's a better ideea to focus on the important ones.
The idea of evaluating the value of each customer to find a commonality is good. I want to build on this idea in the immediate future.
difficult to reach clients
Good refresher to the way I used to sell when I was at the top of my game. Current management want MORE quotes on the premise that if we double our quotes we will double our sales - not so really.
Thanks Nick
get instant access Video Comment
Excellent presentation, please keep me informed. Private company , printing equipment in Colombia and Peru info mbmcol.com
If you don't have a list, you're not going to have the success you want. MAKE YOUR LIST!
The idea of this lesson is we need to focus on and spend our time on ''profitable potential clients'' instead of wasting our time with less ''profitable potential clients''. This will make us to achieve more and better goals.
From now on i will leave aside other unprofitable customers ans start researching and spend time on more profitable customers.
Thank you for the video...
Isa Karayilan
Imak Ofset - Turkey
I find this blog useful and will definitely try and put this into practise.
I'm aware of this rule but to revise it is good. I will go to our biggest accounts and look for similar organisations which have the same needs.
I will use the rules to help train a young new sales rep
Needs time for an application mentioned in the video
Law of small numbers - I am now going to be much more selective in how I search for new customers.
I have understood the 80/20 rule for several years but need to use it in our business plan consistently.
Nick always has great content and ways to implement great ideas
excellent
I have learned that my top 5 clients give us more than 70% of our print work. I will learn to find more of these type of businesses to grow my business on.
Sounds interesting enough. Let's check results. I will wait for the free resource.
very nice
very excellent teaching.
Learn how to identify key prospect.
And how to focus the business resources on to the bracket that deliver my business objective.
I will introduce the video to my Buisness Development Team and challenge them to try the tip suggested.
Learned more about the 80/20 concept. Knew it was true; but got it better; will implement looking for commonalities among our big customers and also, most importantly, look at what we bring as added value. very important. Thanks!
It is valuable
we were frustrated when they were asking first prises then services
Video Comment
Good review of previous info.
Looking forward to the action
plan. Thanks again.
Information was clear, simple and direct to the point on how to increase your sales. A few simple steps to help identify who you should spend your time with and who to seek out as your new potential customer base should be.
5/50 rule. get more money from current costomers
very good and useful
Thaks for this lession
I have gained info re the types of customers to target & how to assess the best clients to target & up sell to
I learnt I was right, I tried to get this done last year. Now I can prove I need it done and dig out my list of companies for the sales staff to contact.
Simple, clear, clever and effective video! Like the Romans' orders when they were ready for the battle.
Thank you!
All the best
Alex
Great video
Very interesting video, I will put this to the test with a network referral group that I am attending. We give a top 5 list of customers we wish to obtain each week, but I was struggling to come up with the ideal client...
I like the 80/20-rule and especially the 'rule of small numbers'
thinking about looking at 'ideal clients' only rather than getting as many ppl as possible is interesting and something I will be looking more closely at.
The 80/20 rule is the best thing I've learnt and I'll rather go out there and look out for clients who have the characterics of the few 20% thats what Im going to do.
Hi Nick
Good intro to ideal client - Looking forward to hearing more on 13th
Thank you for reminding me to be selective & have a laser focus to my prospects. Its very easy to get overwhelmed and this helps.
Compile top customers and weed out prospects that don't fit plan
Great Stuff Nick!
80/20 part was an eye opener.
Thank you for the great info. My company was inherited from the children of the now-deceased previous owner. Without a great amount of sales or print experience, our largest hurdle has been figuring out how to go about getting new clients, since all we have had was a preset client list. We finally have a place to start figuring that out, thanks to you. We hope to get a better overview of who our clients are and why they are our customers.
Nothing new but it helps when someone points out the obvious as a reminder
Great video, the 80/20 concept so simple to follow. Thanks!
Interesting as I have been paring down my list, getting rid of the time wasters I am calling on that just do not order the type of print we produce. I like the one page plan idea and how do I add value idea. Good Video.
selling isn't really a numbers game; I need to focus on ideal customers
Efficiancy--I have been talking to the wrong people.
Will be targeting my top existing customers.
How top 20% or less actually generate the bulk returns. Going to set up spread sheet to define top prospects.
Will use it to help sales staff qualify prospects
The 5/50 Rule. I knew about the 20/80 Rule, but haven't checked the top 5%.
Going for 25 new customers with similar profile as our existing best customers
Have to watch the video once more
It is really interesting to hear your experience and innovation in sale field. I myself struggling to find sales in unhealthy bidding situations. Thank you for giving hints to find your Ideal clients.
this edition was quiet interesting and useful, it has given me the ideaa to be focused on my selling of software.
the percentages explained was
of most use
very interesting video. Thanks for the information.
valueable marketing advise
an interesting perspective on "barking up the wrong trees" - wasting time on the little low hanging fruits, etc.
Very nicely said but in reality if my top 20% folds up, the bottom 80% simply fills up the profit loss of my top 20% sales revenue contribution. It will still yield the same profit, however more work has to be done to achieve this. In my opinion, there has to be a balance between the 20/80 strategy. Thank you.
very informative look forwared,to get more such information
the four points of the action plan is simply fantastic,i'll use the format on my recently gotten customers.this will help better the relationship between us in our bid of satisfying their printing needs.
I learned to concentrate on the smaller number of clients that i have on my list and not to try and sell to everybody at once.
The percentage info makes it clear where one's focus should be to identify new accounts.
Thank you.
It has taught me to be more economical with the time I spend with my small prospects
I learned about the law of small numbers.Didn't realize so many of my clients made up such a small % of my revenue.
It's amazing that you need to hear about something so obvious before you take it seriously. Can't wait to utilize the Pyramid theory.
Great video, intresting points regrding law of small numbers instead of large numbers
Thank You it is important
80/20 rule could not be more true. Always good to have a reminder!
Video Comment
Like the one page plan, the small numbers and correlating or paralleling targets is great
I will use my value statement to identify ideal customers that appreciate my value
this vido very good. and thanks about your emaill
very usufell
it was a good guide for attract ideal clients
Very good video.
For me the " impotance of the value you deliver to your customer" og the 20 / 80 rule was what Iearned .
I use this with the sales team to help planning their prospecting activity. Good and compact reminder of what should be done.
Hearing the 80/20 rule is a good reminder for me to consider applying it in my work. Do you send videos with handouts through email? May I request for your other videos ready for viewing sent thru email? Thank you for your helpful coaching..very much appreciated.
not spend time with hard to get uninterested potential clients
do not wast time with bad clients
we find all sales staff wasting time with uninterested clients
Been using 80/20 rule in my work, but 5/50 was a bit surprising. Will do the excel-work to check my own customers. Thanks Nick.
Confirmed what I'd always thought, but most sales managers think otherwise. Less (clients) is more (profit).
I knew about the 80/20 but not the 5/50 - so its worth looking at
Cheers
I've listened to the 80:20 principles but am still nervous of diluting our 'spread' - however, we are going to review our top customers this week and focus on how we can grow these in the next 90 day periodl.
Nick,
Thanks for sharing this information. I'm going to do a study of my top clients to see what is most common about each of them and then go to look for others that have the same characterics.
Very helpful
Very good have been a bit to focused on the law of large numbers time to change
very useful information.
Good info for canvassing new clients
great video and now eager to get started on implementing this
Facts and figures, you can't beat them, the information you get when you know what to look for is invaluable. Thanks again
The most interesting thing is the 80/20 Rule. So true!
Great Information!
Very helpful. I liked the stepwise approach. Will use this at the next marketing meeting
Very exciting. I'm going to extract this information from our data and put it into action
Great stuff
really useful - I'll be giving this a try!
the most interesting part was for the disproportion of the best customers orders and their number
Law of small numbers in creating more sales
Thanks again, great information as usual
50 5 / 5 50
The rule of small numbers really opened my eyes to where I can refine my approach to future prospects, and might best be using this knowledge in the future.
Great work- The analysis is key. Getting into it right now