Treating Every Customer the Same
Think carefully about the following 2 questions:
- How do you define a great customer?
- Who are your top 10 customers?
Most business owners struggle to find a good answer to these 2 questions. I often hear, “Let me run a report and get back to you”.
Why is this lack of clarity a problem?
If you aren’t intensely focused on your most valuable (profitable, strategic market position, refer you a lot of business, etc – it is different for every company) customers,
you are probably treating every customer the same.
But shouldn’t all customers be treated equal? Not if you are interested in maximizing profits.
I am not suggesting that you hang up on a customer if a “top 10” customer calls, but, remember the 80/20 rule – 80% oprofits are probably coming from 20% ocustomers.
Identify your most valuable customers and dedicate 80% o company’s time to servicing them. It will significantly improve the bottom line.
- Who are your best customers?
- How much time do you spend with them?
- Is that enough?
