Your clients are your investment portfolio
Recruiting the right clients is the key to services business
Recruiting the right clients is the key to services business
Agencies adopt a transactional approach to their client portfolios. They rely on opportunity and hope to grow business. It does not help in winning a new client or retaining old clients.
Darren Wolly is founder of TrinityP3, a global marketing consultancy. He writes, “Like a good investment portfolio, you need a mix of clients. The mix of these clients will and should depend on your risk profile and your growth strategy.”
He suggests profiling the clients in four ways. One, the resource on projects as per the volume and complexity of work. Two, the fee per full time equivalent (FTE) is indicative of the financial yield of the client and the margin. Three, the size of the clients. Four, risk of losing the client.
As per Hindu Businessline the marketing services in India is only next to China. The share of ad spend in India’s Gross Domestic Product (GDP) will be more than 0.45 per cent ( about $ 12bn/ INR 85,000cr). The market will grow at about 10% compounded annual growth rate (CAGR). Without the right portfolio strategy and portfolio mapping, firms will fail.