Maximize Customer Profitability

Critical to a company's success is its ability to create customers, retain those customers and make the retention of those customers profitable. Good customers are hard to find but are even harder to keep. In an unstable economy it is imperative to create customers and to maximize customer profitability.

Your first step in maximizing customer profitability is excellent customer service. This can and must be handled in a few simple ways. You must provide quick, instant service whenever the client has a question or need about past or future purchases. This means digitizing your customer information base so there will always be on the spot access by your client support personnel. Next you should consider what your "keep in contact" policies are in your company. Do your sales reps follow up with the customers after the sale to offer any help, answer any questions or offer any other products or services that would complement their initial purchase? Does your company have a targeted email plan?

Targeted email falls into two categories. Recruiting and Retaining. Recruiting programs search out leads for your sales reps through advertising via the web. Retaining emails are sent to keep your client informed of your business. It might be in newsletter form or just a casual email. These emails provide a terrific way to introduce new products, run sales on older products or just make the customer feel that they are important to your company.

Another process to focus on is to offer "package deals" to your customers. Giving a small percentage off a mega sale is worth the discount. Many times a customer will feel more obliged to purchase if it means they are saving money, no matter how small of an amount. Simple tricks like these are used by many major corporations. If you ever looked at the price of a "combo meal" at a fast food restaurant, they are actually the same price as the individual items. But the company has created a sense of value by calling it a combo meal and they sell millions of them daily.

To really maximize customer profitability, you must create the appearance that they, and they alone, are the most important client you have. It is very hard to find loyalty among consumers in this world wide market place. If the customer feels dissatisfied at all, they will just move on to the next company. By creating this atmosphere that they are truly valuable, not only will you get that loyalty, but you will also get their future sales.


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