‘totally transformed our business and completely changed the way we think about customers’ - Valerie Murrel, MD, CCH Software (England)

Profitable Customer Strategies

Know the value and needs of your customers

Ultimately customers - and not brands or products - are your only source of revenue. For any business the objective should therefore be to get, keep and grow profitable customers. In order to achieve this objective, the organisation will need a thorough knowledge of value and needs of its customers.

At Fullstream we facilitate the development of profitable customer strategies based on a systematic analysis of (1) the customer portfolio in terms of value and needs, (2) the product/services portfolio in terms of profitability and relevance, and (3) the customer related aspects and processes of the organisation.

Fullstream - Profitable Customer Strategies

Thereafter strategies and treatments are identified and implemented which direct company resources away from loss making customers towards those presenting profitable growth opportunities.

Our method takes into consideration the organisation, use of technology, and processes which underlay the customer connection.

In our experience successful customer treatment strategies hinge on having the right leader (member of the senior management team) take day to day responsibility for the growth and profitability of each identified customer group.

Our Approach

Fullstream's IDENT methodology enables the organisation to approach the challenge of developing profitable customer strategies in a systematic step-wise manner which will realise major business benefits.

Fullstream - IDENT Methodology

Identify

We gather, analyse and collate your basic customer information for purposes of identification and to ensure their contact details are correct. Data clean-up forms part of this phase. We aim to include all data sources where information is created through interactions with and between customers. The intention is to integrate customer information from legacy systems and customer-centric social applications in order to get a complete view of the customer and networks of customers.

Differentiate

Customer present and future values are calculated and their needs are determined. We do this in a workshop format in close collaboration with members of the team. Based on the outcomes of this process we then segment the customers in needs clusters.

Engage

Here we develop strategies of how to engage with the different customer groups in order to entertain their requirements, and remember their preferences. It is only through an interactive dialog with your customers that you are able to co-create knowledge. At this place of interaction, innovation may take place.

Tailor

We consider how to meet the customer’s needs with a Better, Cheaper or Faster solution. The objective is to ensure products and services are tailored to the needs of each customer group.

What are the benefits?

The IDENT™ methodology enables us to:

  • Provide a step-wise blueprint to realise highly profitable customer strategies.
  • Ensure that customer insight is systematically harvested across the organisation and actionable activities are set in motion.
  • Support the necessary management of the changes which must happen across the organisation if they are to be successfully adopted.
  • Provide management with the quantifiable rationale to undertake painful, almost counterintuitive actions with toxic customers.

Contact Us

To learn more about how our Customer Value Management experience could benefit your next major business change initiative contact ria.wiid@fullstream.ie.

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