6.7 Steps to Quadruple Your Profit From Customers
When your business conducts profitability segmentation, specifies research-driven marketing strategies, and fully implements these plans, your business will replace less profitable customers with highly profitable new customers. You can expect that these new customers will be 16 times more profitable than the customers they replace. The next eight chapters illustrate these steps of profitability segmentation (Table 8):
According to the 80/20 rule, targeting new customers like the most profitable 20% of your customers will quadruple your profit from customers.
Table 8. Steps of Profitability Segmentation ...