Customer Profitability Analysis

Customer profitability analysis is best conducted with a technique known as Activity based costing or ABC analysis. Customer profitability analysis helps the company understand the net profit coming from each customer which can be calculated by revenue less costs. These costs are not only manufacturing and distribution costs but also sales costs, marketing costs, services cost and any other related costs which have to be undertaken to service the customer.

RESOURCE EXCHANGE IN CUSTOMER RELATIONSHIP

We would like to go elaborate the customer value, and for that it is necessary to now concentrate on the exchange. Resource exchange is important in order to increase the value of customer relationship. That will be important since we are thinking of exchange in wider terms than it is traditionally addressed in theories of business. We are actually thinking of exchange of resources on three different levels.

Make your Customer the Hero

If you want customers to buy from you, tell their story not your story.

The most consistent mistake companies make in sales and marketing is to position their company or product as the Hero of the story. If you want customers to buy, you must tell a story where your customer is the Hero..... Not YOU!

Nothing matters more than your email’s subject line

Here's how to craft a subject line that gets your email opened and, even better, opens your customer's mind to engagement.

According to a Radicati analysis, the average person receives between 120 and 130 emails per day. Ponder that for a moment. Between the massive volume of work emails, personal emails and, you guessed it, marketing emails, our eyes are saturated with copy 24/7, whether we’re actively looking for it or not.

Lifestyle Segmentation

Segmentation is an integral part of marketing strategy of any organization for any product. It is important to know the different segments that exist in the possible target customers to ensure that a product is positioned to the right segment of people. It actually means dividing a market into sub-segments and each segment have something in common.

Trust & Confidence

 Trust is the basic foundation of any relationship in both professional and personal capacity. Honesty is the key that results in trust and sustains a relationship. It is a two-way street where both people should have the necessary trust in each other.

Be reliable and then build trust so that both of you can depend on each other to complete the work at your mutual satisfaction. If a person wants to encourage a healthy relationship or build a winning team in the workplace then remember that it is only possible by encouraging trust and positivity in life.

Transparency, willingness to share and authenticity are the main components that can help you in your desire to build trust. Remember trust is an open and honest emotion that is constructive as well as collaborative because it leads to better efficiency and productivity in life.

A Crisis Will Occur !

Some companies work on the assumption that a crisis will never happen. They're wrong. At some point, every company or high-profile individual will face a challenge to their reputation, which can be devastating if not handled properly.

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