An Outside idea: Should you be sacking some of your customers?
Humans love to find patterns and categorise things. It’s a survival trait that has been passed down from our ancestors because patterns almost always enable us to make successful predictions.
Ranking your customers involves finding behavioral patterns throughout the sales process and categorising them.
Identifying patterns in your customers will enable you to make successful predictions.
Pareto’s 80/20 rule states that in most cases, 80% of outcomes result from only 20% of the causes.
This means that 80% of sales may be coming from 20% of customers.
Ranking your customers will help you identify your Grade A clients – these are customers who pay on time and who are so pleased with your product or service that they recommend it to other people.
You’ll then focus most of your marketing efforts to this group because they’re more likely to buy from. But this doesn’t mean neglecting those in Grades B, C, and D.
My question to you this week:
– Who are your A Grade clients?
– and when was the last time you reached out to them?
Onwards and upwards my friend.