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Does Client Growth Equal Business Growth in 2019?

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Does Client Growth Equal Business Growth in 2019?

True or false: in order to grow your business this year, you also have to increase your number of clients? Although logic may tell you that this is true, one successful entrepreneur suggests that the answer is actually false.

According to top business coach Russell Ruffino, who is also the founder and CEO of Clients on Demand—a company that helps service-based businesses owners achieve higher levels of success—the key to growing your business isn’t so much about finding more clients. Instead, Ruffino says that your goal should be to focus on attracting the right clients.

Quality is Better than Quantity When It Comes to Clientele

It’s a simple concept, really. If you can connect with clients who are looking for your exact product and service offerings, they’ll pay you more for them. This enables you to earn more without feeling like you have to cater to everyone and anyone.

Put another way, growing your business is more so about creating connections with quality clients rather than focusing solely on increasing the quantity of those you do business with.

The question that many entrepreneurs have is how to find these clients. How do you go about connecting with the individuals who are more willing (and likely) to pay higher dollar for your goods and services?

Define Your Target Audience

The first step involves understanding and defining your target market. What type of person is most likely to need your products and services? What does he or she look like? Where do they live? Are they married or single? Do they have a college education or a high school degree?

The clearer you are about who you are helping, the easier it is to find ways to actually solve their problems because you’ll know what those specific problems look like. You’ll also know what they’d be most inclined to try (as well as things they may have already tried that didn’t work) in an effort to help them make their issues go away.

Build Consumer Trust

Thoroughly connecting with your higher-paying target audience also requires that you build a relationship of trust. The technology media company CMO states that consumer-business trust is vital due to increasing customer expectations, but also serves the purpose of differentiating your brand.

According to CMO, creating trust requires that you be authentic. If you say you’re going to do something, do it. And if there’s something that you believe in, stand up for that belief. Be your own person and brand and don’t be afraid to share this with your clients.

Price Consistent with Your Value

Of course, growing your business in 2019 by focusing on quality clients versus aiming for a higher quantity of clientele also requires having a price structure that supports this approach. In other words, you must price consistent with the value you offer. How do you do this?

Duct Tape Marketing says that having a positive brand, one that makes your clients feel good when they think about it, is a great first step. But it’s also important to understand your true business costs so you charge appropriately, staying within industry standards. Additionally, be hard to imitate and promote yourself in unique ways so you really stand out.

When you do these three things—define your target audience, build consumer trust, and price consistent with your value—your business will be more appealing to those who are willing to invest in the products and services you offer. This makes it possible to grow your company in 2019 without having to cater to more clientele than you feel you can handle.

 

 

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