LSA Global Insights Newsletter: How to Accelerate Growth through Target Clients

11.25.2017

How to Accelerate Growth through Target Clients


Arrow headed to a target to show How to Accelerate Growth through Target Clients

Ideal Target Clients Create More Profitable Revenue 
Customers who "fit" better than others consistently produce higher revenue, greater profits and more consistent satisfaction - internally and externally. This is the consequence of shorter sales cycles, less problems, more rewarding relationships, better results, and more referrals. 

Do Not Try to Be All Things to All People
While many leaders and professionals do not want to leave "money on the table" and feel compelled to chase every opportunity to foster growth, a study by Hinge Marketing confirms that narrowing the focus of both your services and clients improves, rather than hinders, growth. 

Consider the following: 
  • Differentiation: High Growth firms were almost three times more likely to have strong differentiators in the eyes of their customers. 
  • Offerings: High Growth firms were 62% more likely to be highly specialized in terms of service offerings.
  • Clients: High Growth firms were almost three times as likely to be highly specific and detailed about identifying and working with ideal target clients. 
What Does that Mean for Me?
If you are unclear about your ideal customers and what differentiates you (in their eyes) from your competition, then here are a few steps to consider. Remember, it is all about the customer, not about you or your "stuff."

Identifying What Differentiates You
Some people call this a unique value proposition (UVP) or unique selling proposition (USP). Regardless of what you call it, it is worth the time and effort to determine what specifically makes you better (from your customers' perspective) than your competition and from the other available alternatives by answering the following questions: 
  1. Why specifically (from the client's point of view) is your offering better than other alternatives? 
  2. Why do your customers fundamentally want and need what you have to offer? 
  3. What specifically do you have to ensure confidence that your claim of being better, faster or cheaper is true? (i.e. client case studies, research, testimonials and stories showing relevant and differentiated benefits and results).
Be as specific, simple, and clear as possible about what sets you apart from your competition. Companies typically differentiate themselves in the areas of "better, faster, or cheaper." 


About LSA Global
Founded in 1995, LSA Global is a leading performance consulting and training firm that helps high growth technology, services, and life-science companies create a competitive advantage by powerfully aligning their culture and talent with their strategy. Learn more about getting aligned