Health Canada's National Microbiology Laboratory
My Floor Coating "Whale"
I remember one of my best long-term clients, Health Canada's National Microbiology Laboratory in Winnipeg. This client needed a consistent supply of repeat work, and they weren’t overly price-sensitive. The nature of the job required us to work at irregular times and under unusual conditions, making it a perfect example of a high-value or "whale" client. These clients are invaluable because they provide substantial and ongoing business that significantly impacts your bottom line.
Defining a Whale Client
In the business world, a "whale" client refers to a high-value customer whose business is worth significantly more than the average client—sometimes up to 50 times more. For floor coating applicators, these clients are typically large commercial or industrial entities that require extensive and repeat services. Characteristics of whale clients in this field include:
- Large-scale projects with complex requirements.
- Frequent need for services, ensuring repeat business.
- Not overly sensitive to pricing due to the specialized nature of the work.
- Possess a strong referral network, amplifying your business reach.
Identifying and attracting these clients can transform your business, providing stability and substantial growth opportunities.
Identifying Local Whale Clients
How to Research and Identify Potential Whale Clients
Look for Businesses with Multiple Properties - Start by researching companies that own or manage multiple properties. These businesses often have ongoing maintenance and renovation needs, making them ideal whale clients. Examples include real estate investment trusts (REITs), property management companies, and large corporate campuses.
Target Industries with High-Value Needs - Focus on industries that require high-value, specialized coatings. Automotive manufacturing plants, food processing facilities, and large retail chains often need durable and specific floor coatings. These industries typically have higher budgets and recurring maintenance schedules.
Customizing Your Approach
Tailor Marketing Messages - Craft marketing messages that address the unique needs and challenges of whale clients. Highlight your ability to handle large-scale projects, offer quick turnaround times, and provide exceptional quality. For instance, if targeting automotive plants, emphasize your expertise in durable and chemical-resistant coatings.
Offer Personalized Solutions and High-Quality Service - Develop customized solutions tailored to each client's specific requirements. This might include site assessments, tailored maintenance plans, and dedicated project managers. High-quality service should be evident in every interaction, from initial consultation to project completion.
Leveraging Data and Research
Collecting and Analyzing Client Data - Gather detailed data on your current and potential clients. Use customer relationship management (CRM) software to track client interactions, preferences, and project histories. This information helps in identifying patterns and predicting future needs.
Use Online Tools for Insights - Leverage online tools like LinkedIn, industry-specific databases, and business directories to gather insights on potential clients. These tools can help you identify key decision-makers, understand company hierarchies, and gather information on recent projects or expansions.
Create Profiles of Ideal Clients - Based on collected data, create detailed profiles of your ideal whale clients. Include information such as industry, company size, typical project scope, and specific needs. This helps in targeting your marketing efforts more effectively and tailoring your approach to resonate with these high-value clients.
By implementing these strategies, you can identify, attract, and retain whale clients, leading to significant business growth and stability.
Over the years I managed to secure many "whale" clients - the National Microbiology Laboratory, a bus manufacturer, two railroad repair facilities, and the electricity utility. These "whales" provided a reliable, predictable flow of profitable, regular work.
- RICHARD BUECKERT PCS
Building Relationships
Strategies for Networking and Building Long-Term Relationships
Building relationships with whale clients requires strategic networking and consistent engagement. Attend industry conferences, join relevant associations, and participate in trade shows where potential clients gather. Personal interactions at these events can help establish trust and open doors for future business.
Developing long-term relationships involves regular communication and personalized attention. Schedule follow-ups after project completion to ensure satisfaction and address any concerns. Consider creating a VIP program for your top clients, offering exclusive benefits such as priority service, discounts on future projects, or invitations to special events.
Importance of Excellent Customer Service and Follow-Ups
Providing exceptional customer service is crucial in retaining whale clients. Ensure your team is well-trained to handle inquiries and resolve issues promptly. Follow-ups after project completion not only show your commitment to client satisfaction but also provide opportunities to identify additional needs and secure repeat business.
Showcasing Expertise
Demonstrate Expertise Through Case Studies and Testimonials - Share case studies and testimonials that highlight your expertise and the value you've provided to past whale clients. These stories serve as powerful tools to demonstrate your capability to handle large-scale, complex projects. Remember, building a portfolio of success stories takes time. For those looking to accelerate this process, consider leveraging Route Cause's StorySell Sprint system to efficiently develop compelling case studies and testimonials.
Share Success Stories - Highlighting success stories from past projects not only showcases your expertise but also builds credibility with potential clients. Use various methods to share these stories:
- Dedicated Web Pages: Create web pages for specific projects, detailing the challenges faced, solutions implemented, and the positive outcomes achieved.
- Case Studies: Develop in-depth case studies that provide a comprehensive look at your process and success.
- Client Testimonials: Feature testimonials from satisfied whale clients to add a personal touch.
- Blog Posts and Articles: Write blog posts or articles that discuss significant projects and the benefits provided to clients.
These methods not only help in attracting new whale clients but also reinforce your reputation as a reliable and skilled service provider.
Conclusion
Targeting whale clients can transform your business, providing substantial and ongoing revenue streams. By implementing strategies to identify, attract, and retain these high-value customers, you can achieve greater stability and growth. Focus on building strong relationships, providing exceptional service, and showcasing your expertise to stand out in the competitive floor coating industry. Start applying these strategies today to attract and retain whale clients, ensuring long-term success for your business.
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