How to Differentiate Customers - Essay Example

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How to Differentiate Customers

Average Revenue: Businesses need to evaluate the average revenue earned over a period of time. From the accounts perspective, the management needs to check what is the current spending of the customer and what would be the projected revenue. Based on it the average revenue against a customer needs to be calculated. If average revenue is good or is very good then definitely the business should spend more time on the customer.Revenue Change Score: The annual changes in revenue are given the maximum weight where the management can analyze and comprehend the percentage change over the last fiscal years with the current year. The analysts need to study the increase / decrease in revenue to get the change graph. The analysts also need to forecast future revenue change based on current market scenario, customer relationship and other internal and external factors. Lewis (2005) stated that firms should identify their profitable customers and strategically plan their marketing based on customer asset value. He also specified that the forecasting of the future value of customers is of paramount importance. The management can decide which customers should be allocated more time due to current net worth and prediction of future net worth.Current Relationship: The current relationship with the customer plays an important role in identifying the various parameters related to current revenue and future revenue projections. Customer relationship remains at the core of the entire business where a transparent. ...Show more

Summary

This paper “How to Differentiate Customers” will be discussing extensively on the differentiation aspects and what would be the parameters from which the organization would have a better idea of the return on investment against each and every customer pockets they have.

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