Anyone who has ever worked in a customer relation role will know the joy and sorrow that comes with serving customers. They can make or break your day – and your spirit. They can make your job enjoyable, or a nightmare.
In sales, customers sit on a pretty high pedestal. For most businesses, they treat every single customer with unquestionable service, regardless of how the customer treats them. Anything they want, they got it. After all, without them you’d be out of business, right?
But what about when customers push our buttons, and stretch us to the limit? What if they waste our time and start to cost us money instead of make us money? Do we have to put up with it?
Absolutely not! A business full of unprofitable customers is an unprofitable business. The key to customer service lies in the ability to identify the gems and the rocks, and deal with each effectively. Your customers don’t have to hold you hostage.
80% of your revenue comes from 20% of your clients, and
those 20% are your ideal customers.
Generally, these customers are loyal, spend a lot and spend often. They may be demanding, or ask you to stretch a little bit further, but they’re fair and they’re profitable. You make a substantial amount of money from them. You want to keep these customers in your business, and keep them exceptionally happy.
The rest of your customers can be organized on a sliding scale all the way down to your c-list, or unprofitable customers. These are the people who waste your time, energy and resources. They’re never satisfied, and nearly always cost you more to serve than they actually spend in your business.
The most profitable – and enjoyable to work in – businesses know how to spot and cater to their 20%, as well as how to spot and fire the difficult customers.