“It’s axiomatic: You’re as good – or as bad – as the character of your Client List. In a very real sense, you are your Client List!”
– Tom Peters, The Professional Service Firm 50; Author of” In search of excellence”
Everyone (Business owners, Authors, Marketers, Promoters, CEOs etc) agree on the importance of customer centricity and a robust customer strategy. But what is Customer Strategy?
Merkle aptly defines customer strategy as a “a data-driven approach to maximizing the financial value of customers”.
A customer order hence is not just a sale – it’s the beginning of a potential lifelong association, (Of course, profitable!)
Have you experienced/associated with aforementioned thoughts? Does any of the above sounds familiar? If the answer to any of the above statement is yes, or you could relate with the statement, it is time to rejig the customer strategy.
Remember, It’s not just about the revenues that the customer brings in !
As the famous saying goes, it’s true that Customer is the king. However, it pays to work for the right king!
A well-designed customer strategy will coordinate many different functions, skills, and practices. It should encompass data analytics; go-to-market and channel choices; and the delivery of products, services, and experiences.
In developing (or rejig) deliberate, well-designed, and perceptive customer strategy, the following must be necessarily addressed:
And more, based on your industry, size, stage of industry and so on.
How is almost always the difficult part isn’t it, though in many cases It’s simple. ( Simple, though not easy)
Once you realize the importance of relooking customer/customer strategy, taking a look at current customer base factually is the key. It could be done by rating existing customers. Balanced approach though is required. Try answering the following, as a first step.
You may start by using the following for quick understanding of the existing landscape. Please note, this is the pointer, and further deep drive analytics may be required to arrive at final conclusion.
As re iterated earlier, A customer order is not a sale – it’s the beginning of a potential lifelong association. The following additional pointers, could be used as passing thoughts:
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