How To Find Your Best Customers
|Business : Running Your Business|
It is an ironic fact that, despite customers literally being the lifeblood of a company, many pay little attention to those most important people.
But by undertaking detailed profiling of customers and most likely customers, you can really help your business tick.
For instance, you may find that customers who purchase low-value products or services actually lose you money overall - with little money to play with they drive a hard bargain over the costings, and additionally the work you do for them takes a disproportional amount of time.
If by contrast larger customers have a higher profit margin and drive a less hard bargain over costs, and are repeat customers - then you should seriously consider focussing your energy and effort here.
If this sounds incredibly obvious it is important how many people do not think like this. Saying 'no' to any customer or offering a higher price even if you might lose them can be very hard for any business, but it can be the difference between moderate and all-out success.
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