Have you actually considered that the correct classification of your customers is the essential lever for increasing your company’s sales? In this article, you will learn why it is important to take a look at the actual potential of your customers.
Many sales people often work according to the same principle: They often look after their “good” customers too intensively, while other customers with high potential are ignored and fall by the wayside undetected. They often classify their customers on the basis of their own sales and subjective criteria. However, according to this classification, the company misses out on valuable growth potential in its inventory.
AI-based classification provides a remedy
By linking internal and external data (e.g., industry, employees, and website content) and specially developed AI methods, your customers can be evaluated according to their revenue potential. AI-based customer segmentation takes the clustering of your customer base into A, B or C customers. Then, it captures the C-segment customers that have the potential to become A or B customers. Based on this customer segmentation, high-potential customers are recommended to your sales staff for more intensive processing. This enables your sales staff to focus on reactivating and expanding customers who promise high objective sales potential.
Consequence: Sales growth
We at Dastani Consulting often find growth potentials within the customer base of more than 100%, which are distributed over only three to four percent of the address base. In order to capture the existing potential, your sales staff must successively target precisely these addresses. Accordingly, appropriate marketing campaigns can also be planned and executed.
Case study: Growth potential in the existing customer base
The following figure illustrates the customer distribution according to their actual turnover classes of one of our customers from the tool trade. Out of a total of 55,000 customer companies responsible for 112 million EUR of actual sales, approximately 900 customers with 48 million EUR and approximately 1,800 customers with 51 million EUR of growth potential can be uncovered from the inactive customer base. This case study underscores the relevance of viewing the actual sales potential in the existing customer base so that sales staff can successfully and efficiently address sales growth.
Our numerous case studies illustrate the success of these measures. If you have any further questions, please visit our social media channels (Xing, Linkedin, Instagram) call us at +49 (0)641 984 46 – 0.