By Daniel Felsted Who are your customers? It is a question I often ask new clients. Can you categorize each of your customers into one of the following categories? Most Valuable Customers (MVC) MVCs are customers who generally give you most of their business now. You want to retain their business, reward them for their loyalty, and make certain they receive the highest level of service. Train your people to recognize them, understand their value to the company, and anticipate their needs. Most Growable Customers (MGC) These are the people that do business with you from time to time and are the most likely to become MVCs. They are more difficult to recognize but have huge potential for growth. With some targeted effort you can convert them into MVCs. Below Zero Customers (BZ) This group of customers you know well. They demand the most attention and product the least amount of profits. Some only come in when you have a large sale and then go to the sale table. Develop strategies to recognize them and automate your interactions with them. Free up your time for your MVCs. Internal Customers Your internal customers are those who work for you and/or with you. It is important to have an open positive working relationship with each of these customers. They determine the effectiveness of the work you do. And they largely determine you overall success by their effectiveness and dedication to your business. Cater to your customers needs whenever you can. External Customers Your external customers are your potential customer, those that serve your business (deliver person, service person) as well as your current customers. Know that each contact they have with your business is an opportunity for marketing your products and services. Make sure each contact these customers have with your business is positive. You never know whos watching and talking about you. Do you have a separate plan to market to each of these customer groups? If not, you are leaving a fortune on the table for your competition to come a take! Its no different than leaving something expensive and desirable in your car and not locking the door or rolling up the windows. And it is easy for your competition to come in and gather up those customers that you are neglecting. Consider this: the need for customer oriented pricing is growing. How are you treating different customers differently? On average, you have a 60 percent to 70 percent chance of doing business again with a current customer, a 20 percent to 40 percent chance with a former customer, but only a 5 percent to 10 percent chance of ever doing business with a non-customer.
Steven Yanovsky Where do you spend most of your marketing dollars? Is it on getting new customers? Or former customers? Or non-customers? Yes, you need to spend some in each of these categories but you need to spend the bulk of your marketing dollars on your current customers or most valuable customers! The most important marketing question to ask yourself, it turns out, is: How am I treating my different customers differently? If you want to grow your business consider how you treat your customers. Daniel C. Felsted is Marketing Director of The Image Foundry, a corporate marketing training consultancy. Teaching business how to sell more products to more people more often for higher profits with direct marketing best practices. danis@IFmarketing.com The Image Foundry (IFmarketing.com) Article Source: http://EzineArticles.com/?expert=Daniel_Felsted http://EzineArticles.com/?Know-Your-Customers---How-Well-Do-You-Really-Know-Them?&id=515381 buy phentermine without physician
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