Learning #6 – Not all customers are created equally
Our light-hearted learnings for 2021
The customer is always right, right? Wrong. Clients are no doubt the lifeblood of contract service companies; pharma and biotech firms fuel existence and growth for vendors in the outsourcing space. However, a customer that treats your team like dirt is probably more damaging to your staff morale and culture than you think.
Irrespective of the amount a client spends, make sure there is mutual respect between the teams and the individuals involved. The opportunity cost of a bad client can be astronomical if you don’t nip it in the bud early on.
Seasonal solution: Don’t be afraid to say no to prospects that aren’t a good culture fit. Analyse your existing clients; look out for the low maintenance, high value ones and invest like hell in these. Conversely, consider kicking any high maintenance clients into touch.