Do you ever wonder how your ten best customers are doing? In fact, do you know, right now, who your ten best customers are? If not, I really urge you to find out without delay.
Depending on your type of business, knowing who your best customers are today, six months ago, a year ago, can give you a valuable insight into your business. Is the order changing. Have some customers disappeared and others taken their place? Is their spending going up or falling? Armed with this information you can not only thank those spending well, but, more importantly, if sales are falling, find out why, and hopefully, be able to do something about those customers before it is too late.
However, back to my original question. Do you know how well your ten best customers are doing? Why should you care?
Well, if you know how your best customers are doing it is a good predictor of how your business will be doing in the future. If your best customers are doing well the odds are that you will be as well. If, on the other hand, your best customers are finding trading difficult then again it is likely that you will be too.
If, as is more likely, some are doing well and others are not doing so well, do they come from a particular market sector? If the answer is yes, perhaps it would be worth looking for more business from a successful market sector.
Can you offer this successful market sector something extra? Something that will get you recognised as a leading supplier in the market place?
Then again, if a client is finding trading difficult, how can you best help them? Or maybe you should be careful as to what level of business you do with them.
Knowing who your best clients are and how they are doing can be a real key to your own success. So, please take some time this week to find out who they are and how well they are doing and you could have a great idea as to how well your business will be doing over the coming months.
From the desk of David Wimblett 