High Profit Customers Through Customer Engagement
Your customers and competitors are measuring your ability to deliver on your customer promise…do you measure your organizational performance to that level of detail….everyday? Be assured your customers do.
We help you go beyond the static database, bad sales training, and less than stellar sales execution to find and keep the most profitable customer for your business.
The Purpose of a business is to create, (a profitable) customer, (and keep them!) Peter Drucker.
Ask the Hard Questions about Your Business
- Are you a value player, providing “beyond belief” customer experiences, charging a premium and keeping the most profitable customers and best people? Have you moved beyond “sales training” and developed your people to be “trusted advisors” thinking of your customers as strategic partners? Do you deliver on your customer promise everyday?
- Is your product a commodity, are you constantly “selling”, with low margins/high volume? Have you substituted “sales training” for customer acquisition strategies? Do you experience high turnover in people and customers?
If you’ve selected #2, but fully committed to move to #1, we’re can help you get there and beyond.
If you’re committed to being #2, then we’re not the right fit for coaching your organization.
The Importance of Customer Engagement
Why is Customer Engagement so much more profitable than selling “stuff”? Why is it more important to understand your “value proposition” and serve the market that understands the value your deliver, they want to buy what you have? Those desperate to sell widgets typically pursue to the wrong markets and customers, or verticals. What’s your customer acquisition strategy, how do you lattice support teams, onboard your customers, what’s your customer retention ratio? How much does it cost you to buy your customers?
Enlighten360 will help you implement a strategically defined customer acquisition strategy to professionally acquire the most profitable customers for your business?
Here’s why it’s critical to do this:
- Existing customers spend on average 67% more.
- Acquiring new customers can cost six to eight times more than satisfying and retaining current customers.
- A 2% increase in customer retention has the same effect on profits as cutting costs by 10%.
- A 5% reduction in customer defection rate can increase profits by 25-125%, depending on the industry.
- The average company loses 10% of its customers each year.
- The customer profitability rate tends to increase over the life of a retained customer . Sometimes dramatically.
All organizational energy, resources and mindshare must be focused on delivery on the customer promise.
No customers = No business.
While that might be painfully obvious to most it doesn’t mean that every organization has optimized its ability to create customer lifetime value, (CLV).
- Is your customer worth more to your competitor?
- What’s your customer acquisition cost, breakeven analysis, churn ratios for the last 12 months?
- What is the profile of your most profitable customer?
- Do you spend money on sales training, or do professionally prepare your salespeople to become “trusted advisors”?
- How much money do you waste on chasing the wrong customer?
- How are you helping your customers be more successful?
Schedule a 30 minute conversation with Steve to explore what’s possible with your business.