14. Micro Perspective: Focus on High-Value Customers
The heart of micro research is analysis of your existing customer base. Learning more about your current customers is a critically important step in your growth plan. The outcome of the next exercise has eight benefits:
• Segment customers based upon revenue and profit.
• Segment customers by characteristics to improve target market criteria.
• Create a profile of your best customers to use this to target new customers.
• Create different levels of service for different customer segments.
• Align everyone, especially those in sales, marketing, and customer service, on the definition and criteria of different customer segments.
• Reduce customer defection.
• Create strategies to build customer ...