Sorry, but not all customers are created equal

All customers are NOT created equal: Every business wants to attract and keep good customers. But not all customers are created equal. Some are more valuable than others. The most valuable customers are what we call "ideal" customers. They're the ones who buy more, stay longer, and refer other customers. They're also less price-sensitive and more loyal to the brand. On the other hand, "problem" customers tend to require more support, are more likely to churn, and are always looking for a better deal. That's why it's important for businesses to understand the difference between these two types of customers and focus their efforts on attracting and keeping ideal customers. By doing so, they'll be able to create a loyal customer base that will help them thrive for years to come.

How to identify important customers: Any business owner knows that it is important to identify and nurture relationships with their most valuable customers. But how can you tell who your most important customers are?

Besides the regular metric of the one who brings in more revenue is more important, In this digital age, we can now gather so many data points about behavioural aspects of users and customers and how they interact with us and it has never been more important to use data and insight to understand your customers.

Slicing and dicing this data and mapping it to purchases, can you give you new insights into how likely these customers are going to purchase from you again or even information on which users are more likely to become new customers? For example, customers who open every promotional mailer you send, who visit your website at least once a week, who spend at least 5 mins in every session on your website, who always purchase at specific times in a year, who always make use of discount codes, who like / comment and share when your new products are posted on social media handles, etc. For better conversion rates and more sales, these customers may need to be managed differently than others.

Digital has made it possible to measure the level of engagement and likelihood of future purchases easier than before.

How to treat important customers differently: When it comes to treating important customers differently, there are a few key things to keep in mind.

First and foremost, it’s important to always be respectful and courteous. This means taking the time to listen to their concerns and addressing them in a professional manner.

Secondly, it’s important to go the extra mile when it comes to meeting their needs. This might mean going above and beyond what’s required or offering additional services that are not typically offered.

Thirdly, it’s important to keep lines of communication open. This means staying in touch with them on a regular basis, keeping them updated on new developments, and proactively addressing any issues that might arise. By following these simple guidelines, you can ensure that your important customers always feel valued and appreciated.

Fourthly, you can create special experiences for them through personalized digital marketing, where you can automatically create offers for them based on their engagement activity and the purchase history with your brand. This can make them feel special and make them your brand advocates.

Conclusion

It is important for businesses to identify and nurture relationships with their most valuable customers. By understanding who these customers are and how to treat them differently, business owners can create a loyal customer base that will help them thrive for years to come. Thanks for reading!