Net-A-Porter is one firm that does a great job of looking after its key customers. It has a name for them: ‘extremely important person’ (EIP). Like VIPs, only with an E instead of a V.
These customers account for a disproportionately large chunk of sales and profits, and boy do they get looked after.
EIP orders are picked, packed and despatched first. EIPs get first dibs at new products (some of which are very limited). EIPs are assigned personal shoppers and invited into the London office for wardrobe planning, and they receive personalised lookbooks (these customers “spend 20 times more than the baseline”). EIPs see exclusive previews and presentations, and they have products bought specifically for them by the buying team.
All in all, it’s good to be perceived as an EIP. The question is whether you know who your EIPs are, and whether you’re treating them any differently, to make them feel like the special people they are?
So, how many of your customers are ‘extremely important’? If you don’t really know then look through your data (e.g. customer database, web analytics, social media monitoring tools, etc) to find customer segments in the following areas… – How to identify and retain your most valuable customers by Chris Lake