In challenging economic times, keeping your existing customers engaged and making them feel valued is just as important as getting new ones. But who exactly are your most important customers?

Here’s a simple 80/20 exercise to help you find out:

Step 1
Make a column that lists in descending order of spend, every customer you’ve dealt with over the last twelve months (and how much they’ve spent). Biggest at the top, smallest at the bottom.

Step 2
Add them all up and calculate 80% of the total. Note to self: remember this number!

Step 3
Add another column which lists a running total of the first column – all the way down to the bottom.

Step 4
Find the number in your running total that’s closest to the one you remembered earlier and draw a line under it.

Ask yourself this question:
Considering the companies above the line account for 80% of your revenue, when was the last time one of your sales team took the time to go and see them or maybe picked up the phone just to say ‘hello’?

Targeted 80/20 marketing campaigns are just one of the ways we at Central Designs are helping our clients look after their most important customers and identify new ones.