80/20 Principle for Customer Success

 

 

 

Vadim Kotelnikov

For some, customer is the king, for others, customer is the god. For me, customer is a beloved friend I strive to make happier.

Vadim Kotelnikov, founder of 1000ventures - personal logo VadiK

Inventor Business e-Coach

Author Innoball

Founder Innompic Games icon

 

 

Business Model

The 80/20 analysis can help you to isolate customer segments where you are making higher profits and where you are less cost effective.

Spot the few places in your business model where you are making great surpluses be that a product, a market, a customer type, a distribution channel, a country, a type of transaction and maximize them. Identify the places where you are loosing money and get out.

 

Customer

Value Creation

Business Three

Balanced Business

InnoBall

Stronger Business Design

 

 

 

Marketing

Marketing should focus on providing a stunning service in 20% of the existing products/services that generate 80% of fully costed profits. It should devote extraordinary endeavor towards retaining 20% of customers  who provide 80% of the firm's profits.

  Marketing Rainbow course by VadiK 80/20 Principle customer success

 

 

Selling

The key to achieving superior sales performance is to think 80/20, not averages. Hang on to the high-performing salespersons, get everyone to adopt the methods that have the highest input-output ratio. Focus every salesperson's effort on the 20% of products that generate 80% of sales, and on the 20% or customers who generate 80% of sales and 80% of profits.

 

Customer-focused Culture

Synergistic Selling

Empathize

Be a Helper

Customer Partnership

 

 

 

 

Customer Retention

The 80/20 Principle tells you that customer service function should devote extraordinary endeavor towards retaining 20% of customers who provide 80% of the firm's profits.

 

Customer Loyalty

Customer Retention at Dell

Listen to Customers

 

 

 

Mini-courses

 

Your growth boosters

 

Teaching by Example