Randy MacLean, President — WayPoint Analytics
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Wednesday, August 16, 2017—The most powerful profit-producing strategy for sales is trading customers. While this activity is a natural part of business, companies that focus on this process and begin to manage it to their advantage are the ones that outperform all the others.
It's important to remember that in every company, there are customers who are profitable and efficient and others that are actually siphoning this profit away as you subsidize their money-losing business activities. The profit you make from your best customers usually ends up being spent on servicing your worst.
Every market has one 800-pound gorilla that has the lion's share of the profitable customers in the segment. Sophisticated companies learn to "trade up" in customer selection by targeting and protecting high-profit accounts, while ceding money-losing accounts to the competition. And, WayPoint delivers the details you need to make the important decisions about which customers to target, which to make profitable, and which to let go.
This activity produces relentless profit growth, even when sales are stagnant. Visit www. waypointanalytics.com to learn more about the techniques you can use to affect this change.
Audio file: profit-tips_03.mp3