Customer Segmentation for Profitability
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Watch the video above to Separate your Customers into groups
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Lesson Summary:
It's important for the survival of your business to segment your customers into 4 groups - A/B/C/D. Nurture and build a strong relationship with your A and B customers, ditch the profit sucking C customers and bring back the lost D customers.
When you’ve got rid of your C customers, you’ll find more B customers will appear to take over the space that has been opened for them.
What you'll learn in this Lesson:
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Video Transcript
Formulated Worksheet
Homework Assignment
Case Study
You can have many sales in money terms but if you're not making enough profit, you'll get no commission or salary!
If you messed up, say sorry and ask for another chance. There could be management changes that you don't know about. You could have the product you previously didn't have for them. There's always a reason to find to approach them.
Increase your price to a profitable level. If they leave you, replace them with a new A or B customer.
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Fran Piggott
Instructor
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