80/20 rule to keep customers happy

There is a nice article about this topic.I a big follower of this rule.This make more if you use this in your day to day life.

 

Why should you care?

The 80/20 rule means that if you can define your critical few customers and target marketing directly to their needs, it's likely to pay off big time. The cost of acquiring new customers, according to many surveys, runs 8 to 10 times more than the cost of keeping existing ones. So you get a stronger return on your marketing dollars and better sales by focusing on 20% or so of your top-tier prospects. Usually, that requires three steps:

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Identify and characterize your key customers.

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Target messages in suitable media to hit nerves among the important customer segments.

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Build in a payoff that rewards customers for giving you time and attention.

Here's how to stay connected to customers who count.

http://www.microsoft.com/smallbusiness/resources/marketing/customer_service_acquisition/
keep_your_customers_happy_and_coming_back_for_more.mspx

 

Enjoy...

Suresh Behera

Comments

[Luna Mohanty]

hi suresh,
really find impress after watching your blog and visiting your website. Truly happy to see your efforts. Great please keep writing and i can suggest if you can write a blog in oriya language. kindly pass that URL if u succeed.

Thanks a lot