Are You Neglecting Your Businesses Most Valuable Asset?

Posted by spinlessplates under Customer Service
From http://www.spinlessplates.com 4086 days ago
Made Hot by: MindCircusMedia on February 21, 2013 3:25 am

Are you neglecting your most valuable business asset? Do you even know what your most valuable business asset is?

Unlock the hidden profit in your micro business

If you’re really serious about working less and earning more, you have to become “the one to go to” in your niche. And to do that you need to nurture your relationships to help you increase the lifetime value of your customers.

Who Voted for this Story

Top BizSugar Users

This week's most active BizSugar users. Join Them!

Comments

Written by HeatherStone
4086 days ago

Hi Paul,

I'd agree that customer data is among your most valuable assets, if indeed you've carefully built your business on the relationships you share with these people. For example, in the context of old fashioned advertising agencies (think 'Mad Men') we'd call them accounts, each would be valued based on the amount they would likely spend in advertising per year, and we would have a very clear idea of the services we would need to perform to keep each happy and coming back each year for more. Of course, not all accounts are worth the same, not all represent the same level of investment, and, unfortunately, not all businesses build the level of relationship with customers to make this information truly valuable.

- 0 +