Machine Shop Growth Episode #4: New Chapter—We've Joined Making Chips!
Mar 27, 2025
Join Mike Payne, owner of American Precision Partners, and Kirk Phelps, a third-generation tool and die maker, as they delve into transformative strategies for customer acquisition. Discover how to engage new customers without sacrificing quality, and the importance of identifying perfect customer profiles. They discuss reviving customer connections through proactive communication and the role of engaging content marketing in building trust. The duo also stresses the significance of merging sales and marketing for cohesive revenue generation and cultivating a growth culture within manufacturing.
AI Snips
Chapters
Books
Transcript
Episode notes
Growth Principles Apply Broadly
- Growth applies universally across all types of businesses, not just machine shops.
- The buyer's psychology values the balance of money spent versus value gained in every transaction.
Reengaging Dormant Customers
- Mike Fritz shared how a long-time customer went dormant due to a material certification issue.
- Reengaging the customer uncovered hidden revenue that might have been lost without communication.
Use Quarterly Customer Success Reviews
- Conduct quarterly success review meetings with key customers focused on relationships, not projects.
- Ask customers what would make your service a perfect 10 to uncover actionable improvements.
