#0038 How Do Your Customers RATE?

When we first START a Business we often take on ALL and any customers we can get our hands on in an attempt to cover COSTS as quickly as possible.

What then happens is that at a point in time some of those customers just aren’t the type we want to have and often we STRUGGLE to get rid of them.

But we don’t know which are the GOOD from the BAD!

A rating SYSTEM that allows you to differentiate the ‘Wheat from the Chaff’ is essential to long term success. Your GOAL is to focus your time and energy on the customers that will give you the best return on investment.

Here is a SIMPLE rating system I use to help me FOCUS:

GOLD;

• High Monthly Spend
• Very Regular
• Excellent Payers
• Good Referrers
• Great to deal with

SILVER;

• Decent Monthly Spend
• Regular
• Good Payers
• OK Referrers
• Nice to deal with

BRONZE;

• OK Monthly Spend
• Mostly Regular
• OK Payers
• Occasional Referrers
• OK to deal with

EXIT LOUNGE;

• Low Monthly Spend
• Not Regular
• Bad Payers
• Never Refer
• Painful to deal with

Now that you know what your Customer PROFILE looks like you can FOCUS your attention of Servicing the Top Tiers as well as FINE TUNING your Marketing to ATTRACT more Gold and Silver and LESS of the time and money SAPPERS in the EXIT LOUNGE.

P.S.   3 (MASSIVE) side benefits of implementing a rating system is that you will likely FREE up a heap of TIME, your CASHFLOW will IMPROVE and your PROFITABILITY should also go UP.

Are you WASTING way too much ENERGY on some of your Customers?