• Tom Herman

Some Customers Are WAY More Valuable Than Others

Not all customers are created equal. ≠


Your business has multiple types or groups of customers.


And some are worth FAR MORE than others. 💰


Focus on your Most Valuable Customers (MVCs) to protect and grow your revenues.


Here’s a simple strategy to follow:


1️⃣ Identify the customers responsible for the bulk of your revenues - your MVCs. Use your CRM or transaction data for this simple analysis.


2️⃣ Learn from your MVCs (interviews, surveys, analytics) to continually improve and ensure that your marketing resonates with them - and potential new customers like them.


3️⃣ Proactively work to retain your MVCs. Support them and stay top of mind. Don’t give them a reason to leave.


To summarize:


Identify your MVCs, keep them, find more like them, learn from them, and grow with them.


It's not rocket science.


It’s business fundamentals powered by customer research.


~~~~~~~~~~~~~~

Need help kicking off your customer research efforts? DM me, and I’ll get you moving in the right direction.