Many businesses don’t know who their Most Profitable Customers (MPCs) are.
That is a problem, because the Most Profitable Customers are the foundation of any successful business. They are also the best way to achieve faster business growth.
Why?
Your Most Profitable Customers bring in most of your profits
About 80% of your sales comes from about 20% of your customers.
This means that the biggest part of your revenue depends on just a few of your customers.
There is a good chance that these customers are also reponsible for most of your profits.
As a business owner, don’t you want to know who they are?
Once you know who they are, you can focus your efforts on getting more of them.
You don’t know how to identify them? Click here to access a free webinar that explains how to do this.
Your Most Profitable Customers are easy to deal with
One of the key things that takes away from a productive business is dealing with customer problems.
- This could be customer complaints about a service or product.
- Or a customer wasting your time by asking many questions without any intention to buy.
- Or a customer promising you that they will buy a huge amount from you in the future if only you will agree to give them a huge discount today.
Whether it is a customer who is angry with you, customers making demands on your time without buying anything from you, or customers giving you a headache for whatever reason, the result is no sales and more stress.
Your most profitable customers don’t do this. They are easy to deal with.
Click here to access a free webinar that explains how to identify your Most Profitable Customers!
Your Most Profitable Customers are loyal
They keep coming back to your business.
This alone is a key reason why businesses should know who their most profitable customers are.
Your best customers, the ones that are bringing you the most profits, will keep putting their money into your business.
They may not buy in bulk and they may not even buy from you every month, but they will buy most of what you are selling.
Still, many businesses overlook this loyalty.
Often, this is because they lack insight into who these customers are.
As a result, they don’t have anything in place to say “thank you” to the customers that make their business thrive.
They don’t have anything in place to retain customers.
Even though your Most Profitable Customers are already loyal, rewarding their loyalty is a business best practice.
And higher customer retention is another way to grow your business faster!
They make it easy to grow your business
Happy customers are loyal and easy to work with. Happy customers boost your sales and profit.
As a business owner, you have a vested interest in making sure your customers are happy.
And as you can see from the above, it makes sense to focus on your Most Profitable Customers.
Once you know who your most profitable customers are, you can start focusing your efforts on getting more of them. Instead of only having 20% of your customers as best customers, you can start taking action to get to 30 or 40%.
As you attract more of them and profits increase, your business starts growing faster. Moreover, you can start saying goodbye to your worst customers!
Your Most Profitable Customers are the best business partners that you could have. Instead of wasting time, money and energy to satisfy customers who will never be happy, start paying more attention to your most profitable customers.
Do you want to know who your Most Profitable Customers are? Click here to access a free webinar that explains how to do this.
Guide My Growth helps small and medium enterprises in Africa, Asia and LATAM grow their business through effective and time-tested growth strategies that lead to higher sales, increased profits and faster growth.
