Thursday, February 02, 2012

Power Marketing Tip 44: Treat Your Customers Like Royalty but...

Treat your customers like royalty - but not kings & queens

It's bad business to treat all your customers the same. Instead treat them all like royalty. Recognize the different levels of royalty: kings, earls, dukes, lords and knights.
If you treat all customers the same you will waste your time and money. You might also chase away your best customers who feel unappreciated.
Some customers are better than others. You should treat those high value customers better and they should know that they are special customers.
Categorize your customers into three groups, A, B and C. (You could call them Platinum, Gold and Silver.)

A are your best customers. They are highly profitable, hire you often and lead to other business. They are a delight to serve and you would like to spend more time with them.
Invest more time and effort in pleasing them. Contact them most often. Convey elite status on them, similar to the airlines and hotels. Look for ways to offer additional services and value to them. Learn as much as you can about them. Focus your marketing on finding more customers like them.

B are the in-between customers. They are easy to work with but not big profit generators. Look for ways to move them up to A status and make it clear that they are not yet A customers. If they like you they will want to be A status.
If they don't like you they will quickly drop to C status. Don't cry. That's a blessing.

C are your bottom rung customers. They are mildly profitable at best, require a lot of maintenance and might be difficult to deal with. Look for ways to automate your contact and downgrade the serve level to them. You want to minimize your cost or convince them to leave and bother your competition.
Treat your customers royally but not equal. This will reward you with a better return on your investment.

George Torok
Power Marketing

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