Marketing isn't something that all painters or specifiers learnt in their training or studies, so it's only natural to feel a bit out of place in this area.
One of the mantras in marketing is the 80/20 rule.
It is applicable to absolutely any trade in the world, so it's a good one to understand when you're looking to keep your business growing.
According to this rule, 80 per cent of your business will be generated from 20 per cent of your clients.
So what does this suggest for your marketing plans?
This means that a small handful of bigger clients (the 20 per cent) such as a hotel chain, a retirement village or school will likely require the majority of your services (the 80 per cent).
Good marketing will ensure that these clients receive the attention they deserve. Remember that it will be worth putting in a little more time and effort making sure everything is spot-on because you will be saving time and effort by not hunting down more work. They will also be more likely to pass on your details if they are satisfied with the work.
The flipside is that your bread-and-butter clients (around 80 per cent) – such as residential homeowners or one-off jobs – will provide you with the remaining 20 per cent of your work. The jobs they require may take less time, but there will be more of them.
Looking after these clients is important too, because each one will come with the potential for more work, whether it is through their own personal need or a referral. If they are connected to a large paint or design project through their career for example, there may be a chance to turn that 20/80 client into a 80/20 one.
June 4, 2013
The Resene Trade Blog
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