Machine Shop Growth Episode #3 : The Final Piece - Capturing New Customers in Our Growth Series
Mar 4, 2025
Explore the nuanced world of customer acquisition, emphasizing that growth doesn’t always hinge on new clients. Discover how identifying a strategic customer profile can lead to healthier business relationships and higher profits. Delve into the power of niche mastery, targeted marketing strategies akin to fishing, and maximizing efficiency through standardization. Learn the importance of building trust and transforming customer relationships by solving their problems. Finally, uncover how trade shows can serve as golden opportunities for attracting the right clientele.
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Episode notes
Growth Without New Customers
- Pursuing new customers isn't always necessary to grow a machine shop business.
- Quality of current customers can enable doubling growth without acquiring new ones.
Create an Ideal Customer Profile
- Define a clear ideal customer profile before targeting new customers.
- Match customer needs with your shop's machine capabilities and material expertise.
Spend Smart on Customer Acquisition
- Spend more to get a customer and you will win the game of customer acquisition.
- Poorly defined customer profiles increase acquisition costs and risks of loss on jobs.