The dangers of focusing on a few big customers

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safi2021
Posts: 108
Joined: Wed Feb 08, 2023 5:22 am

The dangers of focusing on a few big customers

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At the beginning of March, the dollar knocked on the door of . Petrobras' rating was downgraded by Moody's. The bad economic news populates the news and the perspectives of specialists are gloomy for 2015. But companies cannot simply stop and wait for the bad moment to pass to return to having a stronger performance in the market with their customers. Now, it is more important to have a strategic plan to face the moment in order to get through it in the best possible way. After all, giving up is not an option. Within this strategy, it is essential to keep in mind which are the most effective tools that each company has. Knowing what your company's strengths are will help you think about how these characteristics can help the business. Being aware of your weaknesses is just as important as your strengths. Knowing where you need to improve helps you understand where you need to invest more: in training, updating, and knowledge.

However it is no secret that the customer is the most important asset of any company. It is the customer that we must focus on if we want to grow, remain in the market and continue to exist. Whatever the strategy – more or less aggressive – it fundamentally involves the customer. So, to face the current moment – ​​and take advantage of opportunities that appear even in an adverse scenario – it is Malta WhatsApp Number List necessary to take care of customers. maintain those that already exist and expand the portfolio, conquering new customers. In this regard, having a varied portfolio is an excellent alternative. As the popular saying goes, putting all your eggs in one basket is not a safe procedure. It's better to diversify. This applies both to the financial and investment markets and to customer relations. If a company has few large customers, when it loses one of them, its loss is considerable.

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When on the other hand, there is a balance between larger and smaller customers, the loss of one of them makes the company suffer less – and recover faster. You cannot remain dependent on one or a few businesses. To survive, you need to diversify. The moment is delicate and requires attention. It is necessary to increase productivity and take advantage of all the opportunities that the market offers. The focus now must be on management, so that there is greater commercial productivity and more effective sales management. That means understanding business processes and applying that knowledge in day-to-day business practice. It's no use just staying in the orbit of theory. You have to go to the field. Being on the water to understand what the market wants. Know your competitors, know your customers. After all, you can't catch a big fish without exposing yourself to sea weather. Knowing how to balance is also an important exercise.
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