Customer centricity is the current thinking about seeing customer value beyond their revenue potential. There are high-value customers, low-value one, and plenty who fall in the middle. But they all matter for businesses that want to make the most out of them say Wharton’s Peter Fader and Sarah Toms. The authors discuss their new book, The Customer Centricity Playbook < link >and aspirations to value customers individually and act on it.
Source: Knowledge at Wharton, November 6, 2018. Link.
We are not going to judge ourselves by the least happy customer, we are going to judge ourselves by the most valuable customers.”–Peter Fader
INSIGHTS: Animal health pros routinely deal with customers whose lifetime value is spread over the life span of one or more animals and a decade or two. Whether serving animal owners directly or servicing channel points of sale, it is important to remain aware of a customer’s value beyond the transaction of the day.
Try not to risk missing the importance in a lower-value customer and knowing the people involved. These persons are often mobile and end-up working in a higher-value customer location.