Current Situation:

You have customers but you are not sure what it costs to acquire a customer, or which customers are your best customers, or what it costs when you lose a customer.  Even worse, you are not even sure when you have lost a customer until it is too late.

The Problem:

You may already have the data you need.  However, you don't take the time to analyze customer information because you are not sure what to measure to get actionable insights.  Or you generate so many measures that no meaningful actions take place because it's as if you are drowning in data, but starving for actionable information.   

The Concern:

Customers come in the front door and leave through the back door just as quickly. So you continue to throw money at acquisition while getting a poor return on this investment.  By not measuring what matters companies operate with a false sense of security and don't correctly track the health of their customer relationships.  You are in business to grow customers, and it's critical to know how you are doing.

What can help:

Develop the right metrics to know the value of a customer, which ones are your best customers, and if someone is still your customer. Make sure they are clear enough to quickly communicate the health of your business to all employees.  Try these measures to get you started:

• Number (and revenue) of new customers

• Number (and revenue) of lost customers (and why they left)

• Number (and revenue) of repeat customers

• Revenue by unique customer segments

• Customer referrals (and why they refer)

• Customer advocacy and trust assessments

Remember you can't manage and reward what you can't measure.  What gets rewarded, gets done and stays done.  Click or call to request more info.