De-mystifying customer engagement myth #3

Let's talk about customer engagement myth #3: All customers are created equal.

We all know that is not true, yet we continue to say it. Do you really treat your 10 best customers the same way you treat someone who has just walked in off the street?

If you do, maybe that would explain why you are struggling to retain your best customers. Think of Rogers Wireless. I have been a customer of theirs for close to 10 years. My family has three cell phones with them (as well as numerous other products and services) and there will be more to come. When I recently tried to upgrade my phone, I was told that someone coming off the street could receive a better deal than I could. I have spent close to $50,000 with this company, yet a new customer gets a better deal than I do. Does that make sense?

All customers are not created equal. However, the best companies have learned how to treat every customer LIKE THEY ARE THEIR BEST CUSTOMER. That doesn't mean you treat all customers the same way, it just means that you make every customer feel special.

You should be spending the most time and effort on your best customers and working on engaging and retaining them. This is called stratifying your customers. You need to know which customers spend the most with you, which are most profitable and even which customers have the best potential to provide the exponential value of customer retention.

That doesn't mean you ignore the rest, because you never know which new customers might eventually become your best customers, but it means you focus on retaining and growing those who have proved to be loyal and profitable in the past.

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