I have talked about the 80/20 rule in online businesses in this blog before. And we can say the rule applies to almost every aspect of it.
Today I want to focus on your customers. In most cases approximately 20 percent of your customers are creating about 80 percent of your profits.
So it would be very [...]
I have talked about the 80/20 rule in online businesses in this blog before. And we can say the rule applies to almost every aspect of it.
Today I want to focus on your customers. In most cases approximately 20 percent of your customers are creating about 80 percent of your profits.
So it would be very important for the ongoing success of your company or business modell that you concentrate on your best customers. This is where “controlling” comes into the game. In order to focus on your best customers who proved that they value your products, you better know who they are.
It is not enough to kind of have a feeling „Mr X“ and „Mrs. Y“ bought a lot of your products. You have to have the exact numbers to strenghten your future chances. Then you will be able to make individual efforts to offer more products to them. Their doors were open and their purse out , chances are both are not closed for you yet.
So your first action in order to increase your sales in 2010 could be knowing your best customers better and then:
1) offer those your products more frequently
2) offer those the higher prices products as you allready developed a good relationship of trust
3) talk to them in a more personal way, as you have a history with them
4) send them good advice or great stuff you picked up on your way for free to strengthen your customer path.
Doing this and knowing your existing best customers better will certainly bring you a reward
a) personally in the relation with them
and
b) moneywise in your purse.
Getting new customers is allways good, nourishing your “star customers” is even more important.
2 your learning success, Dirk
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