When to say Goodbye to Customers
- Mark Hawtin
- Dec 19, 2024
- 1 min read
We all love gaining new customers, watching that top line revenue soar. But have you ever stopped to consider the true cost of keeping certain clients on board? 💰
Customer support costs rarely scale linearly with revenue or size. Shockingly, those smaller accounts often demand more hand-holding, preventing you from focusing on strategic, high-value relationships.
That's where customer profitability analysis comes in. This eye-opening exercise highlights which customers genuinely deserve your time and attention...and which are just bleeding you dry. 💸
The harsh truth? You may need to make some tough choices:
1. Cut ties with profitability vampires
2. Increase rates for those high-maintenance clients
But don't worry, there's an upside too. This analysis will expose areas to enhance your products, support, and training - a sure-fire way to boost customer satisfaction AND profits.