Most Valuable Asset: Your Customer
Published Feburary 17, 2018
“Do You Consider Your Customers An Asset?” Does that seem like a strange question to you? Can I take it even a step further? “Do You Consider Your Customers Your Most Valuable Business Asset?”
What's your business's most-valuable asset? It's not bricks, mortar or inventory, it's your day-to-day customers.
Repeat customers can be worth up to 10 times more than one-time triers. That's why knowledgeable marketers will spend as much time and even more money on maximizing their investments in their customer bases.
If your business wants to make your best customers more profitable, implement some of the following practices:
Stuff everything that goes out to customers (think bags, paperwork and communication media) with cross-selling offers and new product information. Then test placing package inserts in your own outgoing orders. Promote special product offers from the same category as the product being sold, delivered or shipped.
Remember and apply the old 80-20 rule: 80 percent of your business comes from just 20 percent of your customers.
Find creative ways to thank and reward your faithful customer base. Offer rewards to those who bring in new business.
Give your best customer segments a title and refer to it often: Preferred Customer, Platinum Customer, Elite Customer or Ultimate Customer.
When dealing with your Ultimate Customers apply patience. Lots and lots of patience. Let them have as much time as they need.
Keep in mind that the faster you resolve their problems, the happier your client will be and the lower the cost per call will be. And while you shouldn’t rush through a customer’s problem, there should be a level of efficiency and a solid plan to quickly get to the root of the issue by determining the best possible solution(s).
Is your company looking for customer service solutions to help you deal with customer interaction? SMART Service Desk IT Service Management Software is your answer. We know that your satisfied customers will return again and again. Let us help you increase productivity, reduce operations cost and improve customer experience with our ITIL compliant solutions. No matter the size of your business we have your customer retention solutions.
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