Background A lesson I learned from financial services is that there are certain types and groups of customers that add or detract value from the business. Some researchers call these various groups value destroyers or enhancers, it can be tricky to identify them. But often we find that the acquisition tactics focus on selling products […]
READ MOREOur Customers Have Changed
In the last 10-to-15 years our customers have completely changed how they behave. This isn’t just about the digital revolution or the proliferation of apps. This is about how the behaviour of customers has changed. The What and How of Changed Customer Behaviour Customers have changed how they buy. A huge portion of customer […]
READ MORENet Promoter Score (NPS)
Net promoter score, or NPS, is very popular for many organisations. NPS goes beyond the passive feeling of ‘satisfaction’ to predicting customer behaviour. Importantly, whether customers will be an advocate for what you do, to their friends, family and colleagues. In this age customers rely far more on the opinions of their network than advertising. […]
READ MORECustomer lifetime value (CLV)
Customer Lifetime Value, (CLV) is a key measure for understanding the value of customer groups. Best not used as an overall value for your customer portfolio, but as a tool to understand where the value is different from one customer group to another. When we know the value from each customer group, the combination […]
READ MOREWhy your business needs a customer strategy
The customer centric approach to business has been proven by extensive research over the last couple of decades (by the likes of Harvard, Forrester and others). What underpins this level of success with customer centricity is that the organisation have a solid customer strategy. That everyone in your organisation understands. The Three Key Reasons for […]
READ MOREThe Value of your Customer Portfolio
Taking a customer centric approach will significantly increase business value and profitability by actively creating a profitable customer portfolio. Product centric thinking leads us to think that value for the business comes from the revenue or fees created by products. However, the value actually comes from the people (customers) who make decisions. These […]
READ MOREThe top three things for entrepreneurs need to know to build a profitable customer portfolio
Your revenue comes from your customers – not your products, or your services – the customers who are prepared to pay for your offerings. When we start new businesses we tend to get our offer ready, then release it onto the market – knowing that customers will come and be wowed by our offering. […]
READ MOREThe end of The Funnel
Yes that’s right – The Funnel that is used by some of the best marking organisations on the planet – has long passed its use-by date. The Funnel that we so often use to describe leads to converts (social media, marketing and sales), has stopped being useful at all, in fact I believe it actually hinders engagement with our […]
READ MOREBIGJUMP 2016
Sales and customer engagement needs a new approach in this customer centric age. BigJump asked me to be the speaker at events across Brisbane. These events were aimed at startups, lean business and entrepreneurs to help them understand the new rules of this game, and an approach that increases profitability. During 2016 I […]
READ MOREYou need to know what your customers value
In an economy that is shifting towards an experience economy, organisations are shifting focus towards improving the customer experience. However, prior to designing the experience we need to know what customers value. When we know what customers value, then we can design experiences that deliver on that value. It is commonly understood that most sales […]
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