A sale is a sale, right? Like most business owners, you probably aren’t in a position to routinely turn away revenue. However, that doesn’t mean that every potential customer is the same. To grow over the long term, it’s important to know whether you have the ideal client base for your staffing firm.
That leads to a crucial question: what defines the right clients? Well, there are a few considerations to keep in mind. Here are some of the qualities that indicate that you’ve developed a strong customer base:
- You can service them profitably
- They need the staffing services you provide
- You can grow together over time
On the other hand, there are negative signals to watch for. Here are some red flags that suggest a particular client might be wrong for your staffing firm:
- They make outlandish demands
- Requests come with a lack of respect for your policies
- They routinely fall behind on invoices (or don’t pay at all)
- All deals become subject to continual attempts at renegotiation
While these attributes might help you rate individual customers, you need a plan that orients your business towards the right clientele. With that in mind, here are some steps you can take to make sure you attract the clients that are right for your staffing firm:
Locating the Right Clients for You and Your Staffing Firm
Know Your Niche
Specialization will help you find clients that suit your expertise. This will smooth the sales process and ensure customer satisfaction.
Over time, you can expand your footprint, adding new verticals. But approach these growth opportunities strategically. Lurch into a new area without proper planning and you might find yourself with a mismatched set of new clients.
Gather as Much Information as Possible from Potential Clients
It’s best to uncover red flags as quickly as possible. Set up a process for gathering key information about potential clients. This will let you avoid unpleasant situations down the road.
Target Your Marketing Efforts
A focused marketing campaign will lower the chances of stumbling into an unprofitable situation. Think about the types of companies that represent the core of your business. From there, you can fashion an effort to connect with this targeted group.
Finding a client involves more than a cash-for-services exchange. It represents a form of partnership. As such, a personal element exists that you need to take into account.
To foster a lasting relationship, your staff will need to interact constructively with your client’s staff. As such, a cultural connection will need to be made. In most cases, you’ll be able to deal with any type of corporate vibe. But sometimes, a mismatch occurs that is impossible to overcome.
Track Client Performance
Keep an eye on your client relationship even after you make a sale. A strong partner can deteriorate over time, as business fortunes and operating conditions evolve. As such, routinely ask yourself questions like:
- How much time does your staff spend on the client?
- Is the client profitable?
- Do they pay on time?
- What is the likelihood of future sales?
It also helps to take some of the guesswork out of dealing with clients. If you can remove the risk from activities like collections, you can improve relationships and secure your cash flows. Turn to Frontline Funding for invoice factoring services, letting you get cash upfront for sales you’ve already made.
Need Help Finding the Right Clients for You?
Contact Frontline Funding today to find out more.