How to Identify Your Most Valuable Customers
4 min read
Not all customers are valued equally. As much as you don’t want to admit it, that’s the truth. Some of them have a great potential purchasing value, while others are here only for a one time purchase. Deciding on which customers you should focus could mean everything for your SME – the growth you’ve always wanted or the downfall you’ve always feared. If you are unsure on where to focus your energy, in this article, we will speak about the different most valuable customer types.
Big Budget Spenders
If you want to focus investments on your most valuable customers, then target the big spenders. As the name implies, they spend big money and when they like what they get, they turn a one-time purchase into a long-term deal. However, before going all-in with them, you should analyse the company thoroughly. We recommend checking their background and ask questions such as – At what pace the company has grown over the last couple of years; Any notable history of big purchases in the past?; How long do they tend to stick around with a client? If the findings are pleasing, then shift into fifth-gear and do everything to seal a long-term deal with them.
Size does not matter in times when certain companies make more regular purchases than others with bigger revenue. Often times, the most lucrative collaborations are established with small and medium-sized businesses. They are more dependable and not so prone to change partner companies. Plus, building partnerships with small businesses is way easier – the bureaucracy barriers causing troubles are fewer and much easier to sort out.
Social Media Sharers
We live in the golden age of social media. All businesses use social media to share exciting news, such as launching a new product or service, anniversary of some kind and especially when a new partnership is born. You’ll immediately notice the supporters that like, comment and share your posts. They help the good vibe about your business to spread across the industry. And since companies from similar industries tend to follow each other, your reputation will gain on respect and they will perceive you as a noteworthy brand and take your company into consideration for a future potential connection.
Customers Who Offer Feedback
Oh, if only if all customers offered feedback, then companies would have gladly created products and services that entirely matched their needs. Even a small, and seemingly insignificant suggestion could take you a step closer to building a product or service ideal for your niche. And of course, this could positively effect your revenue! Sadly, that’s a rare occurrence. Not everybody is willing to beta test or provide the necessary feedback all the time. That’s why you should value those customers who are never hesitant to offer honest feedback. Most likely, they recognised a potential in your business and would like to help you perfect your offer with some small modifications. It’s a win-win situation, right?
Identifying Your Most Valuable Customers
Enterprise League gives you one of the most efficient ways to identify who your most valuable customers are. With its search option you can quickly find companies that fit in your exact criteria. Connect with them and start building a lasting business relationship. Plus, by publishing a tender you can make your requirements and intentions clear to all members across the platform. This way you’ll be attracting the right ones and will be openly giving them a chance to connect and reach out to you. These collaborations produce satisfied consumers that can recommend you to others – through our referral option. Once again we prove that Enterprise League can help you identify your most valuable customers and grow your customer base exponentially.
It is a competitive world and getting your products to be sold at major retail stores is not easy to achieve. You'll be dealing with people who've been in the game for a long time and know when a...
Many small and medium businesses face the same problem – not creating good enough plans for the future. All the focus of employees and managers is on finishing their tasks on time. You already...