From the course: Customer Retention
Join today to access over 23,200 courses taught by industry experts.
Identify your most valuable customers
From the course: Customer Retention
Identify your most valuable customers
- Who are your most valuable customers? If you're going to incorporate a retention strategy into your business, you've got to identify who they are and how you're going to focus your retention dollars on them. Let's explore four categories in which all customers fall. The first category is your most valuable customers. Think in terms of overall spend or in terms of overall goodwill. By goodwill, I mean they actively give you referrals or word of mouth or become an advocate for your business. The second category is your potentially valuable customers. They don't have a lot of value right now but they show potential to become more valuable. The third category is your valueless customers. Now, they were valuable in the past but they're showing little to no future promise. Perhaps they're no longer doing business. Regardless, it's useful to know who these customers are and finally, you have your one-off customers. There is no…
Practice while you learn with exercise files
Download the files the instructor uses to teach the course. Follow along and learn by watching, listening and practicing.
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.