While everyone talks about it, very few are doing more than survive it! What is my subject today?.... speed! Over the last twenty years Markets, customers and technology have led to unprecedented speed.
Your customers expectations are: 1) You are simply waiting around with nothing to do, until they text, email, call or, as some Neanderthal still do, walk in; 2) they want it cheap; and 3) they want it immediately. This used to be the land of retail and now, B2B companies are feeling this pinch.
So, what’s a B2B to do? Let’s start with know thy self. What does your company do and do you do it so well that no one else is your peer? If you resemble this then why are you taking those customers/clients who suck you dry and reduce your ability to perform at the highest level?
If you do it faster then you better figure out how to replicate that speed. Again, who is it that sucks you dry and slows you down? Do you have to specialize? Not necessarily…. You do have to decide who is your target and who is not.
If you are getting the distinct feeling that I think many companies try and take on customers/clients who are not in their wheelhouse, then you are getting my message.
When is the last time you and your staff sat down and developed/updated your list or description of the ideal customer? When did you last sit down and made a list of who in your existing group of customers met the must haves on that list? Who meets those requirements and is not your customer?