Tag Archives: rank

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high value customers

Do You Know Your High Value Customers?

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Who are your high value customers? How do you define high value? What is in it for your organization and what should be in it for the customer?

Frequent Buyer

The staff at your favorite restaurant may know the high value customer. It is the person, couple, or family that comes in often, doesn’t push a lot of buttons or make much noise, and they leave great tips. It doesn’t take a spreadsheet, Salesforce CRM, or your frugal mother-in-law to figure it out.

If a simple mom and pop roadside diner can do it, why can’t big business?

Measuring Length

We find it often. It is the take a number in the deli line, it is being the twelfth caller in the queue, or it may happen after checking in at your local retail cellular telephone store. It is the FIFO (first in, first out) system at its best.

There is little regard for length of time you’ve been a customer, how much you spend, or how much profit you are providing back to the organization. If they don’t have this figured out they certainly don’t know anything about your digital footprint, your spending potential, or who your friends are.

How Will Artificial Intelligence (AI) Change Your Service?

Artificial Intelligence or AI, is going to rapidly evolve and change the face of all of this. You need to start thinking about AI and acting on it now. As this starts to unfold you might start thinking about how you can know more about your customer.

What key performance indicators (KPI) will you track and monitor? What metrics and measurements will you use?

High Value Customers

One thing is certain. When I go to a restaurant that I visit frequently, spend a lot of money, and tip very well, I expect a booth, not a table. I expect the staff to know my favorite drink (N.A. Iced Tea) and I expect my food order to get prepared timely and with the greatest care.

These are my expectations. Not because I am pushy, full of myself, or because I’m trying to impress a friend. It is because I believe I should be treated differently based on my commitment to their business.

Your customers probably expect the same thing. They dream of airlines that really work, they dream of appointments that are running on schedule, and they want their shopper’s club card to actually provide some real value.

All of this or none of this matters if you don’t know your high value customers.

It may be time to start figuring it out, and while you are at it, make some changes that applaud them more.

– DEG

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Dennis E. Gilbert is a business consultant, speaker (CSPTM), and corporate trainer that specializes in helping businesses and individuals accelerate their leadership, their team, and their success. He is a five-time author and some of his work includes, #CustServ The Customer Service Culture, and Forgotten Respect, Navigating A Multigenerational Workforce. Reach him through his website at Dennis-Gilbert.com or by calling +1 646.546.5553.

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Originally published on March 28, 2018, last updated on April 7, 2018

 


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customer ranking appreciative strategies

Customer Ranking: How Do You Rank Your Customers?

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We often pay attention to one of our best customers, or we sometimes take them for granted. Have you considered the impacts of customer ranking?

Ranking (see 5 KPI’s) seems like a great idea. It may cause us to pay attention to those transactions that seem more volatile. The customers with the highest ranks may be important, but are they more important than others?

Do You Know Your High Value Customers?

Ranking our customers does seem to have some value. Certainly, telling someone, “You’re our number-one customer” may have some value.

It may also cause him or her to ask for that special favor. Special favors aren’t really the challenge though.

The challenge with ranking our customers may come from the simple mistake of prioritizing how we view our level of service. The most basic value in determining the success of customer service is that the provider shouldn’t be the judge and the jury. Truly, the customer is the judge and jury.

Customer Ranking

Does the one-time small-purchase customer turn into your largest account? It may; it is certainly possible.

Have you considered the power of word of mouth? Do the customers who only purchase once in a while have larger connections socially? They may.

On the other hand, do the customers who buy less, say little, and seem to do nothing matter less? It is doubtful, and this might prove to be the slipperiest of all slopes.

Customer ranking appreciative strategies

Every customer counts; every customer matters. Some do more business, and some do less. If you make the decision to play only with your favorites, you may be missing out.

Do You Offload Problems to Your Customers?

Your best customers may be the ones who say less to you but tell everyone of their happiness in your business transactions. They may not throw their weight around by asking for special deals or expecting big bonus programs. Most importantly, they may not ask you to bend the rules because they are the best.

Rank Matters

How do you manage customer ranking? Are those with the largest sales, the ones who are the most profitable or have the most transactions, the best? They are all important, but being popular may not mean they are the best.

Remember that the most important rank may be the rank that the customers give to their vendor.

Be very careful how you rank.

– DEG

Understanding more about how we measure, engage, and transform the customer experience is exactly why I wrote this book:

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Dennis E. Gilbert is a business consultant, speaker (CSPTM), and culture expert. He is a five-time author and the founder of Appreciative Strategies, LLC. His business focuses on positive human performance improvement solutions through Appreciative Strategies®. Reach him through his website at Dennis-Gilbert.com or by calling +1 646.546.5553.

This article was originally published on June 5, 2017, last updated on December 10, 2019.


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