A business can’t thrive without clients, and for that reason, the efforts of marketers are often focused on new client acquisition.
Unfortunately, many companies neglect their existing clients and one of the reasons this happens is that they don’t ask a simple question: who are our clients?
The good news is that companies are increasingly interested in learning more about their clients and, of course, identifying the most valuable clients (MVCs). Thanks to Big Data and more increasingly sophisticated analytics tools, that’s often easier to do today than it was just a few short years ago.
And the potential pay-off is big: when you know who your most valuable clients are, you know who is most important to retain and you can focus your existing client marketing efforts on the clients with the greatest potential.