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|Justin Hitt: Turning Business Relationships Into Profits™|
For commercial electrical contractors who want to create and keep profitable customers, increase customer loyalty, and get a greater return on investment!
From the Desk of Justin Hitt
Date: April 24, 2014
It's not enough just to make a sale, there is something important you must have if you want long term sustainable profits in your business, or personal bottom line. Print this report out and read every word ...
Do you want more from your sales and marketing efforts? Too often sales & marketing think so much about generating new business, they forget all about growing the business you already have.
If you want to retain and keep the hard earned customer you already have, there are three things you must do. These things aren't magic, they require some expertise to setup. The good news is that once in place help you gain a greater return on investment for your efforts.
Will these three steps work if you think you have a one-time sale? How about a complex solution with a long sales cycle? What about proof this simple method really works?
It doesn't matter if you sell inside wiring, low voltage controls, solar/wind power generation, emergency generators, lighting systems, or any other type of commercial electrical services -- these three steps will help you keep more of the customers you've already got today.
If you are skeptical that something so simple can create such meaningful results in your organization, then I challenge you to read testimonials from clients to whom I've created more than $48 million dollars in new and repeat business. Many of these clients are using the exact same systems, methods, and processes I designed for them years ago.
Serious as a heart attack -- your current customers have more problems than you can solve in a lifetime and THAT'S A GOOD THING. As a commercial electrical contractor aligned with the right buyers, once you know they've got electricity in the walls you can serve them for years to come.
Each customer is a revenue stream waiting to be unlocked by the value you can deliver. Here's more proof that your customer list, and the retention of those customers, can grow your TOP AND BOTTOM LINES:
Even with a one-time sale, or something with a long sales cycle, you can create repeat purchases that give you a larger share of customer. Customers that purchase year after year, who continually choose you over any other option available. In today's highly competitive business-to-business markets, customers have lots of choices. Let's explore some of those choices ...
What else can your customers do rather than purchase from you? It's not just about handling objections, but helping your sales and marketing teams make your company the only choice for a solution.
First start by KNOWING you aren't the only commercial electrical contractor on the block -- good news is that most residential contractors are to weak to do what you do, but in a 100 mile radius you aren't the only one guaranteed.
Here are some of the obstacles you can overcome with the right marketing system ...
AND THIS IS THE SHORT LIST ... Just sit down with your sales team, they have thousands of reasons (some legitimate, some excuses) prospective customers choose not to buy. This list is much smaller with a retention building program, but all the same, you can overcome these obstacles with the right marketing system.
Some of the customer you serve today aren't worth your time, effort, or even waste resources you could be using to grow your business. You know who they are, they pay late, they are difficult to work with, and frankly, you can live without them.
Over the years, every client no matter the industry, and especially commercial electrical contractors have a "stupid customer story." Perhaps you can go on for hours about the having to rip out the wiring on a job site, stopping early, or otherwise not getting paid for your valuable services.
"You cannot polish a turd." -- Jerry Lewis, Comedian-Writer-Director
I'm not trying to be crude, there are just some customers you don't want to do business with no matter how desperate you are. No matter what you do you won't make them better. For example, if they slow pay every other account what makes you think they will treat you different.
In my case back in early 2000. I took on commercial customers who walked away with $356,000 in valuable services -- and there were many late pays along the way. After "investing" $179,000 in legal fees, that adventure left me more than a quarter of million dollars in debt.
After all, your distributors and suppliers won't take "I've got crappy customers" as an excuse for not being able to pay for materials. That little adventure above left me with hundreds of thousands in materials across a number of job sites because I had a whole collection of crappy customers.
What's worse is that I let those crappy customers in the door. You've got a few too, possibly for the same reasons. Follow the three steps outlined here to position yourself for customers worth having or you'll have the expense of experience that I faced those many years ago.
... lesson learned!
Reasons why some customers are worth more:
What I really help you do is turn customers into loyal clients. Clients are decision makers who purchase from you in a way that is beneficial to them, and profitable to you. Clients return, refer others with similar needs, and are great to work with.
The reality of this situation is that you PAID FOR THE CUSTOMERS you have and to lose them you've got to get TWO MORE TO REPLACE ONE LOST. What makes this worse, a customer is only a customer when they are giving you money!
You've done your homework and know that yesterday's customer is likely buying from someone else today. When doing logistics services for a Fortune 500 client, and I've had more than one of these contracts -- I was hiring in electrical contractors to do data center work.
While I'd have one electrical contractor on the floor doing three phased wiring installs to 21" racks, I'd have one in reserve. Here's where I'd insert the Lillian Vernon story if there was time. Bottom line is when they dropped a breaker panel in a live data center and flipped breakers for other systems BEFORE THE PANEL HIT THE FLOOR a manager was on with a replacement electrical contractor.
Half the data center went dark. Systems administrators were scrambling, UPS and power supplies beeping on critical systems. This technician knew the deal -- Get things back on-line, pack up your bags, and get to the door. It was probably his last day on any job.
Now I know he shouldn't have been working near live panels -- now I know about the up-sell opportunities that this data center would have gladly accepted. However, at the time what I did know is that electrical contractor was booted as the spare came in right behind him.
If you think past or even existing customers are loyal, then get with reality. On a decent project your technicians are probably passing your competitors on parts of that project that you have people to handle. What makes this report unique is that I write from the prospective of a logistics manager with procurement experience hiring electrical contractors, and a business development manager who has done sales & marketing for complex technical services.
Pay close attention ...
Here's why it is critically important to turn every customer into a client:
WARNING: Crappy unprofitable customers also boost your word of mouth marketing. I swear they must have message boards because if you've got a few bad unprofitable customers they will attract more. Sometimes because they know they can get away with something -- squeezing an extra dollar out of your rates, milk you for extras, etc. This is why you could be doing a storm of business from word of mouth today then be broke tomorrow.
Customers will come and go, but the loyalty cultivated in a client relationship is forever. You can get to this point with most of the customers you already have, plus understand how to identify prospective customers more likely to become clients.
But how? If you follow some simple methods I've shared over more than a decade with technical and professional services firms around the world -- it's not easy, but it can be that simple.
I've shared some important points that ever business-to-business executive should consider. Now this is the part where you decide what you are going to do to improve your situation. You wouldn't have read this far if you weren't interested in creating and keeping more profitable customers.
It's only fair to tell you that I've served many happy commercial electrical contractors helping them create and keep more customers. And if you have the right attitude, and are qualified, I may be able to create the results you desire for your organization.
The next step is to request an initial consultation about building profitable business relationships, plus details on how to create and keep profitable customers. Just complete this form, and my staff will mail an information kit absolutely free to qualified individuals. (A $97 dollar value) ...
Print out and reread this letter. It was critical I got this letter to you now, rather than waiting till I had more time to make it perfect. If you don't take action now to request more information, at least explore this site for more strategies and tips on building profitable business relationships.
Strategic Relations Consultant
24-Hour Phone/Fax: +1 (757) 282-7779
PS. Do you want measurable results you can take to the bank? I can't stress the importance of at least requesting more information, but if you aren't serious about more profitable customer relationships, I can understand. (More than 75% of new businesses fail in their first 5 years.) You may think you're doing fine, but you know as well as I that you wouldn't of read this far if things were just right. It's easy to get started, click here to request a paid consultation.
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