Not all customers are equal.
You see, while each customer is essential, some provide more support to and get more value from your business. In fact, the top 20% of a company’s customers deliver a vast majority of their revenue. Retaining these loyal customers is crucial, but it can be much more complicated than you’d expect
Joining me today is Ali Cudby. Ali is the Co-Founder & CEO of CXology and the Founder and CEO of Alignmint Growth Strategies. Ali’s an expert at identifying, serving, and retaining top customers. And she strongly believes there are different categories of loyal customers — who all require something unique. She’s here today to explain why each matters and how we can serve them to create an aligned and holistic CX.
Ali is the author of multiple books, including Keep Your Customers: How to Stop Customer Turnover, Improve Retention and Get Lucrative, Long-Term Loyalty. And she leads with the (very valid and accurate) mindset that customers need to feel seen, heard, and valued to be invested in your company. The CX is a very personal experience.
Today she talks about why CX is complex and, if you don’t manage it correctly, how you’ll undoubtedly experience churn. She also shares the difference between a million-dollar customer and a billion-dollar customer and the messiest segment of the customer experience (and how to rectify that mess).
Ali and I also discussed:
• How to identify and keep your most lucrative and loyal customers
• What the key differences are between Lucrative Loyals, Limited Loyals, and Lazy Loyals
• How Customer Success defines a function and Customer Experience defines an ethos
• When you must differentiate between Customer Success and Customer Experience
• What a “Bullseye Message” is and why you should develop one
How to Identify and Keep Loyal and Lucrative Customers
Hear Episode 224 and any other conversation on The Customer Experience Podcast in your preferred podcast player …
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We also embed the full conversation and make it searchable right here in these blog posts. The recording with Ali Cudby is right here …
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Video Highlights: How to Identify and Keep Loyal and Lucrative Customers
Check out the top five video highlights from the discussion with Ali Cudby…
1. Customer Experience is Aligned and Holistic
2. Retention Value vs Acquisition Mindset
3. Consistency, Not Complexity
4. Alignment/ Engagement/Achievement
5. Valuing Direct and Indirect Revenue
Links Related to This Conversation:
- Ali Cudby on LinkedIn
- Alignment Growth Strategies
- Keep Your Customers
- Churn Virus Calculator
- Peter Fader at The Wharton School
Other Episodes You’ll Enjoy:
- Episode 36 with Sarah Toms, “The Financial Side of CX: Which Customers Should You Invest In?“
- Episode 133 with Leah Chaney, “The 4 A’s of Customer Experience“
- Episode 220 with Shep Hyken, “Why Repeat Customers May Not Be Loyal Customers“
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