Driving Higher Profits by Understanding Your Customer's Needs

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  

www.brightgauge.com  

Who  Is  This  Guy?  

www.brightgauge.com  

A  Li>le  Bit  About  Me  &  Compuquip  MSP  Re

venu

e  

Time  

$8.8MM  

$800K  

BIG  EXIT  

www.brightgauge.com  

Why  Do  Your  Customers  “Hire”  You?  

Understand  The  Jobs  To  Be  Done  

Framework  

www.brightgauge.com  

The  Dreaded  QuesPon  

www.brightgauge.com  

Cost,  Price  &  Value  

www.brightgauge.com  

Dollars  

Time  

Your  Costs  

Your  Price  Price  –  Cost  =  Your  PROFIT  

Your  VALUE  Leaving  15%  to  20%  Profit  On  The  Table  

Context  Drives  Value  Higher  

www.brightgauge.com  

Triangulate  Your  Pricing  

Cost  To  Deliver  

Price  In  The  Market  

Historical  Budget  

Don’t  Forget:  Ask  Your  Customer  What  They  Are  Willing  To  Spend  

www.brightgauge.com  

Transparent  NegoPaPng  Tool  

www.brightgauge.com  

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  

www.brightgauge.com  

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)  

www.brightgauge.com  

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  

www.brightgauge.com  

Watch  Out  For  The  Red  Flags  

www.brightgauge.com  

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