CEO Tools Blog
Re-Mix Your Customer Blend
Here's our next installment in "Re-Mix Your Business for Profit." Analyze your customer mix for those customers that "fit your operating model" best...those that you're really geared to handling well. This might be customers who have unique applications that your products fit best, or customers who are easier to work with, or customers who want the particular quality-level or style-of-delivery level you're best at. An example might be customers who like small, rapidly repeated deliveries, or maybe the opposite, namely large, seldom refilled orders. You want to segment customers and your service-level to match each other.
Another example comes from the printing industry, where we specialized only in four-and-more color, very high quality annual reports, upscale catalogs and high-end advertising brochures. We printed almost no tw0-color pieces, very few low-volume runs, and no lower quality (known as pleasing color)...only top quality high-coler-content printing. This also made our customer care easier, since we dealt almost exclusively with professional print buyers and seldom with folks who only needed their printing once a year or even less frequently.
How might you sort, dice, and slice your customer base to best fit what you do? Do you actually know what you do best? Of course it's okay to be all things to all customers, but you should then do all of those things extremely well with all of those customers for your own maximum reputation and profit performance.
Hope this is helpful...more to come on product, market segment, and other re-mixing opportunities.
Very best mixing it up, Kraig