driving higher profits by understanding your customer's needs
TRANSCRIPT
Driving Higher Profits By Understanding Your Customer’s Needs
Presented by: Eric Dosal Co-‐Founder, CEO BrightGauge SoFware
Topics We’ll Cover
• Understanding Why Customers Hire You • Maximizing Your Value • Context Drives True Value • TriangulaNng Your Pricing • IdenNfying Your Ideal Customer • Q&A Time
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Who Is This Guy?
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A Li>le Bit About Me & Compuquip MSP Re
venu
e
Time
$8.8MM
$800K
BIG EXIT
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Why Do Your Customers “Hire” You?
Understand The Jobs To Be Done
Framework
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The Dreaded QuesPon
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Cost, Price & Value
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Dollars
Time
Your Costs
Your Price Price – Cost = Your PROFIT
Your VALUE Leaving 15% to 20% Profit On The Table
Context Drives Value Higher
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Triangulate Your Pricing
Cost To Deliver
Price In The Market
Historical Budget
Don’t Forget: Ask Your Customer What They Are Willing To Spend
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Transparent NegoPaPng Tool
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Compuquip’s Ideal Customers
Banks 1. Security Concerns 2. Valued ReputaPon 3. Required IT Audits
SMB Services Firms 1. 40 +/-‐ Users 2. MulPple Offices 3. Services Firm
Big Boys 1. 200+ Employees 2. Technology Based 3. Needing Flexibility
Analyze Your Current Customers & Specifically Your “BEST” Customers… Then Ask Where They’re Friends Hang Out
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IdenPfying Your Ideal Customer
Divide Customer List Into 4 Groups – A, B, C, D ObjecNve CharacterisNcs for each Group: • Total Revenue ContribuPon • Total Profit ContribuPon • Types of Services Match Your Goals • Referral Business Opportunity • PercepPon Amongst Your Team • Personality of the Client • Payment History • Soj Benefits (Logo, Market Importance, etc)
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IdenPfying Your Ideal Customer Group A • What are the top 2 or 3 themes of this list • Where do their friends hang out? Group B • What qualiPes are they missing from Group A? • Can you upsell / change relaPonship? Group C • Do they bring enough incremental margin? Group D • FIRE THEM TOMORROW
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Watch Out For The Red Flags
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hHp://info.brightgauge.com/download-‐Ops-‐on-‐idenOfying-‐your-‐ideal-‐customer
Let’s Keep The ConversaPon Going
Email: [email protected] Business: h_p://www.brightgauge.com/blog Twi_er: @EricDosal & LinkedIn: Eric Dosal
To Learn More: h_p://www.brightgauge.com/resources www.brightgauge.com