Successful businesses treat their customers well but recognise that not all customers are created equal and nor should be treated at such.
You may find that, over time, your customers can lose their shine,becoming more demanding (driving price down), more complex (requiring more service), and less loyal (requiring more investment from you just to stand still). Once profitable customers may now be causing you more pain than gain. Your relationship with them needs to change.
Strong customers need to be retained and developed through the delivery of exceptional value.
Emerging customers, who are experiencing high growth but who are currently supplied by your competitors might also offer your business strong prospects.
Building a deep understanding into the potential of your customers, your capabilities and the fit between these, promotes the astute selection and targeting of customers.
The Business Case
To focus attention on the pursuit of high worth customers we believe it’s important to generate business cases that set realistic expectations for required investment and the time frames of returns.
Without such cases, corporate appetite for investment in programmes and customers that require time to nurture can waiver and attractive opportunities could be unwisely discarded.
How we can help
- We’ll guide you on how best to segment your customers, enabling prioritisation behind those critical to your growth. We’ll support your team with a practical process and the right tools. Consideration will include future potential, your competitive position and your capabilities.
- We’ll prompt you to consider what you should demand in return for the added attention you’ll provide to your key customers.
- We’ll work with you on how your high worth customer selection is communicated to gain buy-in from your team.
- For your other customers, we’ll help you determine how best to optimise the resources. Applying selected disciplines e.g. relationship management and value selling, can boost performance with these customers too.
- We’ll organise ‘think tanks’ and workshops to craft the perfect business case to engage your leadership team to actively support your approach.