Big Data

OPEN Insight: Assessing Customer Profitability

Date Added: May 2009
Format: HTML

It's a standard business adage that it is easier (and less expensive) to sell to a current customer than to acquire a new one. Determining which of your customers is most valuable to your business - not just now but over the lifetime of your relationship - can give you a leg up in retaining them, selling them more and finding other customers like them. To be successful, you must provide value to your customers, but the reverse is also true - your customers must provide value to you.