How to help your sales force identify your most profitable clients?

It’s time to stop asking your sales force, “What did you sell today?” and start asking them “Who did you sell to today?” Today, the aged sales philosophy of any business is good business is a costly an unprofitable one.  As buyer sophistication continues to intensify, so should your client selection process. As a business owner, one of the first qualification questions you should be asking your sales force when they present a new opportunity is “How well does the prospect match our Ideal Target Client Profile?” In short, a company’s ideal target client profile identifies those prospects that value what you sell and are in need of what you sell. Most importantly, they are your most profitable clients financially and relationally.

Here’s a very simple process to help you and your sales force identify your company’s ideal target client profile:

Step 1 – List your current clients by gross revenue-- greatest to least

Step 2 – List your current clients by profitability-- greatest to least

Step 3 – List your clients by fit-- best fit to least fit

Step 4 – List only those clients that come up at the top of all three rankings

Step 5 – Now, examine these companies and identify additional characteristics and/or attributes these top clients also have in common with one another

Step 6 – From this new list, prioritize the additional characteristics/attributes--most to least important

Step 7 – Finally, take the top 25% from this list, identifying your most desirable ideal target client profile.