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How do you measure customer value and should you treat different customers differently?
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3 Answers
Calculate the Present Worth of the expected profit stream from each customer.
Yes, customers should be treated differently but not poorly.
In my experience if you apply the true costs of servicing your customers the top 20% produce more than 100% of the profit. The long tail needs to be carefully analysed so that costly customers are gently removed or the cost of servicing reduced. When thinking about target customers, revenue should be valued so that rational decisions regarding marketing and business development can be made.
I agree with John and Tim. Why the customer comes to you and what you are offering them when the customer hesitate to buy some thing from you. there are three kind of customers that belong to poor society, middle society and higher society. So all three customers have distinct behavior by their earning issues. You have to judge which customer is standing with you or which customers products you are offering. Obviously, customers are treated by their behavior or response. You can also develop CRM strategy for particular customer as defined three categories above.
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