Each services-based business features specific offerings and utilizes different go-to-market strategies. A common factor across all is resource constraints, such as time, capital, and personnel. Given these limitations, management teams need to identify ways to prioritize revenue initiatives and growth endeavors.
A company can establish multiple approaches to prioritize internal activities. These methodologies can involve one or more dimensions relevant to the company and its specific services.
Here’s an illustration that can give teams a quick rule of thumb for deciding where to allocate additional resources. This chart compares an account’s revenue potential against its current importance or size. The quadrant numbers reflect the team’s suggested primary areas of focus.
A company can position customers within each quadrant to quickly evaluate the current state of relationships and their future potential. The objective is to direct efforts toward accounts in the appropriate (high-potential) quadrants. There isn't a definitive right or wrong way to prioritize efforts within the business. The key is to connect the outputs of your prioritization methodology with operational tactics that align with those results.
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