Do you know which of your customers are profit producers?
It’s a great way to think about that core group of customers that really drive your business forward. These are typically what we think of as our most loyal customers, our advocates and what they do can be more powerful that the best sales team in the world.
For starters they buy your products more frequently and at higher values that other customers.
Secondly they recommend you, provide feedback, support new products and typically ignore competitive messages.
As a leader in your organization what are you doing to enhance these behaviors? Do you make it easy for your customers to share their stories?
Do you recognize these customers and create unique experiences that provide extra value for them?
Some companies with traditionally poor records on this front are starting to step up in this area namely United Airlines.
United is now delivering more than just frequent flyer points but differentiated experiences for frequent flyers such as more room leg and priority boarding. They are also targeting customers with relevant and timely upgrade options as well a a broader range of flexible options for using points for travel and shopping.
What can you do differently for your best customers?
