|
Culling
Low-Profit Customers and Clients
Put
Your Focus
On
High-Performers |
What
if you were told that — by systematically getting rid
of one-half of your existing customers and ruthlessly
screening new ones — you might be able to increase your
profits tenfold?
And once you create a profitable customer base,
what if you had a game plan to cross-sell your products or
|
Conduct a Little Research
 Profile Customers - This helps identify customers and their economic
value so you can come up with a strategy to capture the
most profitable markets for your products and
services.
Profile Perception - Compile data on how you and your
competitors are perceived in your target market. It
identifies "best in class," and shows how you stack up
against your rivals.
| services to those
customers?
By focusing on the people who generate profits
for your company and by meeting their untapped needs, you’re
likely to discover a new source of wealth.
According to some studies, as many as 50 percent
of an organization’s customers aren't generating profits.
Imagine firing one-half of your customers and actually
increasing your revenue and profits in as little as one
year.
To get started, answer these
questions:
What is the long-term economic value of your
customers?
Who are your company’s most profitable
customers?
Which customers are your loss leaders?
Which customers offer the greatest future for
your company?
The Final Equation: Perform for
your customers and expect them to perform for you.
|
| 
