What if You Created a “Moat” Around the 20% of Your Customers That Drive 80% of the Profits?
The Most Valuable Customers typically have longevity. They are customers who purchase more frequently, they have higher average order sizes or monetary value to your organization, they tell their friends about you, and while they appreciate a product they like on sale, they also pay full price to get what they want. These customers are quite profitable.
Without the ability to discern what makes up your ideal customer with hard evidence, most organizations continue to miss the opportunity to retain the best customers, much less acquire a materially greater percentage of them over time.