Great video for reinforcing the seminar talks you carried out at Northprint. Am working on the buyers pyramid this week coming and will look to roll out the metals model at the end of the week after discussion and training with my sales team.
Any idea how to download the audio as I am not sure as there is no option to download - only listen?
Most valuable lesson is the realisation that not all customers are equal. Focus on those that are contributing the most or have the capacity to contribute more.
For my guys (4) to sactually sit down for teh first time and see how much each individual customer turned over and where exactly they were ranked was a complete eye opner to them!
It was implemented with in days and 6 potential platinums identified and are all ready being tested!
The biggest eye open was that 50 % of our customer (202) produced less than 3 % of our turnover!! A complete shock to them all! So we have applied price increases to these 50% with immediate effect!
This module is very important to me in identifying my platinum, gold and silver customers. I've already made the list! I realize I need to take better care of my platinum customers.
Once again Nick never fails to open my eyes to opportunities and how to identify them, this is probably the most concise advise of the 6 steps covered to date and I will attempt to implement this with the other 6 steps in the coming months.
The most important thing I have learned is that 50% of customers provide just 5% of sales
I will be emailing sales team tonight asking them to watch the video
I expect a change in attitude towards our clients to start happening during this month of May
I am awake at this stupid time in the morning because I am aware that I have not started implementing yet - yes I am intimidated by the amount of work to do, but also appreciate that "the bit size chunks" are carefully presented. I have jotted down the members of the team that I think I will need so I have to work out the best one hour slot of the week to call a meeting and present the videos. I intend to do this by 16th May.
Thanks and fingers crossed !!
Backs up profit live as a revision. Will use video to train other members who did not attend.
Bottom 50% of customers = 2.7% of sales = 286 customers. We have sifted through these to avoid increasing prices for new customers who may develop into gold customers.
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{ 32 comments… read them below or add one }
Great stuff!
This is some great content ... thanks Nick.
Upside - smaller modules great idea.
Downside - part way through the old one!
Implementation this week.
2.1% of clients generated 50% last year.
However, some of our largest turn-over customers are on smallest margin.
Hey Nick, Thanks for the content ... some really good stuff here. I really appreciate you taking the time to get this to us.
Wow!!!!!
Informative and Inspiring.
Velvet rope treatment was a brilliant idea. Will start tomorrow with the team.
We liked being able to visually see the difference between our different clients in the spreadsheet.
You are so right - I have completed the analysis. 80/20 and 50/5 - I am amazed!
Great video for reinforcing the seminar talks you carried out at Northprint. Am working on the buyers pyramid this week coming and will look to roll out the metals model at the end of the week after discussion and training with my sales team.
Any idea how to download the audio as I am not sure as there is no option to download - only listen?
Many thanks,
Scott
Great content ... keep it up, Nick.
Finding out who our bluechip customers are and defining between different groups.
We are going to implement the 'Metals Model' immediately.
Incresed sales through loyalty due to an increase in customer service.
Four customers are giving us 50% of our revenue.
Great content, Nick ... thanks again.
Thanks for the content, Nick.
Thank again, Nick
Drill down into our niche areas
Most valuable lesson is the realisation that not all customers are equal. Focus on those that are contributing the most or have the capacity to contribute more.
I think the special treatment for VIP clients is the most important thing i got in this sub-module.
we should begin implementing this in a week after cleaning up our transaction records.
i believe it will help us build better, more solid relationships with our most important clients. better customer loyalty.
i've not done the analysis yet.
All very interesting and lots of great ideas.
I will Test it
The 50 - 5 principle. Treating customers per rating.
We will develop our Niche marketing prospect list.
Very useful
For my guys (4) to sactually sit down for teh first time and see how much each individual customer turned over and where exactly they were ranked was a complete eye opner to them!
It was implemented with in days and 6 potential platinums identified and are all ready being tested!
The biggest eye open was that 50 % of our customer (202) produced less than 3 % of our turnover!! A complete shock to them all! So we have applied price increases to these 50% with immediate effect!
50% of our revenue from 2.3% of our customers!
Nick,
I could not get the video to load, but I listened to the recording
Content and structure is clear and look forward to next 5 weeks
Best regards
Graham
btw (Content on "pre load" is spelt contnet)
This module is very important to me in identifying my platinum, gold and silver customers. I've already made the list! I realize I need to take better care of my platinum customers.
Once again Nick never fails to open my eyes to opportunities and how to identify them, this is probably the most concise advise of the 6 steps covered to date and I will attempt to implement this with the other 6 steps in the coming months.
I loved this modul, very much new things to implement.
Thanks - I'm looking forward to receiving further training resources!
Nick
The most important thing I have learned is that 50% of customers provide just 5% of sales
I will be emailing sales team tonight asking them to watch the video
I expect a change in attitude towards our clients to start happening during this month of May
Great informative
I am awake at this stupid time in the morning because I am aware that I have not started implementing yet - yes I am intimidated by the amount of work to do, but also appreciate that "the bit size chunks" are carefully presented. I have jotted down the members of the team that I think I will need so I have to work out the best one hour slot of the week to call a meeting and present the videos. I intend to do this by 16th May.
Thanks and fingers crossed !!
Backs up profit live as a revision. Will use video to train other members who did not attend.
Bottom 50% of customers = 2.7% of sales = 286 customers. We have sifted through these to avoid increasing prices for new customers who may develop into gold customers.