I am often asked,
What is the best way to develop and implement strategies to increase customer value?
1. Sales: Increase per customer sales
In short, sell more to your existing customers. The most common tactics used here are the basics of cross-sell and upsell. Both of these are good approaches. However, there is a tendency for companies to over use them. This can result in a negative impact on customer relationships.
There are a wide a variety of other strategies that can be used, many ways to implement them, and little need to just focus on cross and up-sell. [Read more…]