A lot of IT consulting companies hit a plateau where they have a few really great clients, but the bulk of their client list is anywhere from marginally profitable to woefully unprofitable.
Many of these problems come from a lack of focus where their business development plans – or lack thereof – seem like they were designed by a kid in a candy shop.
We discussed this very issue, and how to zero-in on attracting and retaining great clients, at the recent Inbound Revenue Acceleration Webinar for Managed Services & IT Consulting. You’ll find a short excerpt from the recording of the live event in this post.
How Can You Make Sure That You Find the Right Size, Quality IT Consulting Clients?
Most managed service providers and IT consulting firms gravitate towards the SMB space – where they’re seeing an average client lifetime value of $10,000 to $20,000 to maybe $50,000.
The reality though is that if you can get a little more niched on your vertical market expertise, if you can get a little more niched and work with enterprise-class platforms, the lifetime value of the clients that you’ll be going after goes up exponentially.
Then we’re no longer talking about trying to land deals that are worth $10,000, $25,000, $50,000, or $100,000.
We’re talking about deals that are worth $250,000, $500,000, $1,000,000 or more – in that first year, with multi-year potential.
With those opportunities, however, there’s generally a more sophisticated sales cycle and there are generally more sophisticated competitors.
Find Your IT Consulting Company’s Optimal Services Offering and Optimal Client Fit
This comes back to understanding why your company exists, the skill sets that you bring to the table, the kind of problems that you solve and who you solve them for –basic buyer persona research.
And at some point, it becomes more of an issue where you’re lining up among product/market fit – product management best practices.
But it really comes down to understanding who it is that your IT consulting company or managed IT services firm exists for.
If you’re lumping too many different kinds of prospects together, your message is not going to resonate with anyone.
How does your IT consulting company go about attracting great clients? Share your favorite tip in the Comments below.
And to build the foundation for a client roster loaded with great clients, be sure to watch the on-demand recording from the “Inbound Revenue Acceleration Webinar for Managed Services & IT Consulting.”
Topics:- Computer Consulting Business