How To Profitably Pamper Your Customers Regardless of the industry you’re in, it is critical to know which of your customers are profitable and which ones strain your resources. If the most extreme cases, it could even make sense to fire particularly troublesome customers. However, it is just as important to go the extra mile for your most valuable customers andreward them for their loyalty and continued business. Don’t just throw gifts at them,though. Not only does a haphazard, untargeted approach decrease the likelihood thatyour customers will remember or care about your efforts, but you will waste time andmoney, as well.In order to take a smart approach to customer appreciation, you first need to measurethe profitability of each customer. To get a complete view into the total costs for eachcustomer, all employees should track the time spent on any and all customer activities.An automated time-tracking system will make it much easier to determine these costsand will give you a vantage viewpoint into your company’s activities. Also consider anyvalue that your customers offer you aside from direct sales. Customers who are willingto go the extra mile by referring new customers, participating in case studies, orotherwise improving your brand can offer a great ROI for you, and that needs to beconsidered.
Great customer service is always important, but aside from that, the best way to endearyour company to a customer is to deeply understand their needs. This may require atime investment, but if you can understand what your customer wants, you can focusyour efforts to help them achieve it.Position your company as an important part of your customers’ future strategies andthey will likely pay you back many times over. And you’ll be able to intelligently plot outthe appropriate amount of time for each customer since you already determined theiroverall profitability.Of course, not every customer will be responsive to your outreach efforts. Even if youhave determined that you can devote time to developing a relationship, some customersjust aren’t interested in anything beyond your core product. That is fine. Scale back yourefforts, but don’t completely cease them. Sometimes, persistence pays off.Similarly, keep an eye to the future. Companies often change strategy and focus whichcould present a future opportunity to reengage. Be ready to step up your activities whenit’s the right time for them.The most successful targeted customer outreach programs are mutually beneficial.We have implemented a deep integration with Microsoft Dynamics GP accountingsystems for some of our customers because our software is a flexible add-on toDynamics. Although we originally implemented this for just one customer, we have beenable to capitalize and expand on the success of the original offering.If it weren’t for a specific instance of customer outreach, we wouldn’t have discovered aprofitable market for this business.Take customer outreach seriously and treat it with as much respect as any otherbusiness project. The results can be measured in your bottom line, and you mayuncover unexpected benefits that you might have otherwise missed.Move forward intelligently, with an eye to your costs and capabilities, and the rewardswill be substantial.Reference Link: http://smallbiztrends.com/2012/12/how-to-profitably-pamper-customers.html