Optimizing customers maximizes cash-flow, profitability, customer-success and the success of your firm. Customers are ranked by multiple criteria that are critical to the success of the firm such as paying-on-time, gross profit, sales growth, order size and others. We put these criteria into a formula that ranks customers by their overall performance. This overall performance rank can be compared to sales rank. High sales but otherwise low performing customers can then be assessed for tactical performance improvement plans. In addition, we can analyze the high performing customers’ attributes to determine if there are certain customer segments that should be your best prospects.
These methods are at the leading edge of academic research and industry practice. Supply Velocity can facilitate your journey to optimizing customer performance.
Customer Optimization – Implementation Plan
- Determine criteria that measure high-performing customers
- Rank customers based on overall performance of multiple criteria
- Compare overall performance rank to sales rank
- Make tactical performance improvement plans for high sales but low performing customers
- Analyze attributes and segments that differentiate high performing customers from all others
Create new business development plans by targeting high potential prospects