Customers pay you at specific intervals for continued usage of your product or service. Recurring: This is the most common type of customer you would find in a subscription-based business.Companies acknowledge their contribution by giving them extra benefits while also growing the revenue from them. They show immense desire in the growth of the company, product or service. Partnership: This is the setup when a customer is more than just a customer.The type of customer is crucial for you to know to perform your customer success management activities. Lot of criteria fit in while analyzing the customer portfolio which are: You can discard them straight away which would allow you to create more headspace for serving valuable clients.Ĭustomer portfolio management is more than just collecting the basic information of the customer. To decide who goes first and who stands last, you need to refer to their portfolio and prioritize them accordingly.īased on the portfolio, you can also know which are the customers that are not adding any value to your business. You need to prioritize your customers for the amount of time and the level of service you can provide to them. You can not serve everything to everyone. Once you have a clear picture of who the main contacts are, what industry they belong to, what potential for business expansion do they hold, your engagement would be as effective as it can get. Instead of looking for the information all over the place, you can refer to the customer portfolio before meeting them and know everything you need to hold a meaningful conversation with them. Imagine engaging with a client of whom you don’t have the complete information and you go clueless on some obvious point in the meeting, it would taint your reputation drastically. Once you get all the details of the customer through their portfolio, you can use it for different purposes which are: Importance of Customer Portfolio Management Potential upsells or cross-sells opportunitiesĬlearly, you can see how important it is to give you an overview of the customer.Ticket size, average revenue and billing information.The details associated with customer portfolio may include: Customer portfolio management is done through tools like ERP, CRM, or customer success software that collects and stores all the customer data at one central location. Through this, you are able to know your customer well and engage with them effectively. A customer portfolio consists of all the details you need to maintain a relationship with your customer.
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