If you learn from your past mistakes and organise your present you can ensure you develop and map out a profitable future. Goals can be the engine that drives your business forward. What are yours for 2017?
John Joe McGinley, Glassagh Consulting, Panacea Video, Business Development
Most successful businesses in every sector use a segmentation model of some sort or another, but if you asked business owners what it was, many would say they have never used segmentation at all. This is because in reality it’s just plain common sense that business people have adapted over time. This allows them to ensure they work with and sell to the people who value, want and need their product or service.
Ask any business owner and they will tell you that it is more profitable to deal with existing clients than to attract and sell to new ones. Most sources agree that it costs between 4 and 10 times more to acquire a new customer than it does to keep an existing one. Why then do many businesses seek new clients while ignoring the value within their own organisation? I think the answer for many is that they just don’t know what they’ve got.
There is a lot talked about segmentation, much of it theoretical and off putting, when in fact it’s a very simple business process to group, service and market to right minded clients and potential customers.
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