“Measure what can be measured, and make measurable what cannot be measured.” Galileo Galilei
Have you ever stopped and calculated who are your best customers? It sounds simple but how often do you identify and rank the customers who drive the most profit for your business?
Ranking these customers from highest to lowest by Profit or Life Time Value lets you see which individuals or groups drive an outsized portion of your business results. When you can look at a single list and see your main customers you have the power to identify the unique characteristics of your customers and work hard to attract more. Is it who they are, where they live, or what they buy?
Knowing that answer can be more valuable than just making a sale. By focusing your customer service, marketing, promotions and sales offers you can build the long-term value of these customers. You can also find more existing and new customers who share the same characteristics as well as empower these customers to become advocates of your business.
Measure4Success is the blog for e-nexus Ltd. We are a Bournemouth based Marketing consultancy specialising in Strategic Marketing Planning and Performance Measurement. Learn more about what we and get in touch by visiting our website at www.e-nexus.co.uk
“Connect enthusiastically. Give relentlessly. And lead bravely. Do that, and the future is yours!” Ted Coined
If you can’t explain it simply, you don’t understand it well enough. Quote – Albert Einstein.
The price of light is less than the cost of darkness.
Arthur C. Nielsen, Market Researcher & Founder of ACNielsen