I once walked to a car dealership and told them that I was a $1 Million Dollar customer. Just as they tried to figure it out, I believe you are too.. in case you haven't realized it yet, here is in brief the idea behind the statement.

Every business owner should look at their customers and know their true value. A few things to think about when measuring your customers value:

(1) How many times your customer will purchase the service or product you are selling in their lifetime?

(2) How much of these many times the cost will amount to?

(3) How many of these times would you like them to buy from you?

(4) How many people, do you think, this customer will refer you to once he/she is satisfied with your service?

This analysis will help perceive the lifetime value of your customers. Seeing things on an aggregate standpoint helps. The ones that give you a hard time might just be the $1 million dollar customers... you just need to make them happy with your service or product. Your thoughts on this topic are welcome!

Published by Wenze Team
- Courtesy of Alkatek, Inc. A Technology Consulting firm based in Southern California. This article was first published on Wenze.com as a way of helping African Entrepreneurs think different about the economic trends related to Africa and its Diasporas. Learn more about Corporate Africa


About Alkatek, Inc. 

Alkatek, Inc. provides office technologies and services that help companies gain efficiencies and capitalize on opportunities. Our entire organization is focused on the application of practical, innovative business solutions. We tailor solutions to meet our customers' need allowing them to remain focused on what they do best.