In the early 1980s, I bought a multi-location, contractor-supply distributor. The employees were panicked about a new owner from outside the industry. But — thanks to Customer Advisory Boards (CABs) — we all won big.
First, I did a customer-profitability ranking report. Sorted best customers into segments. Ranked the segments by net-profits. Then, visited five of the most-progressive and ambitious customers in our best segment. Together, we redefined “service excellence” by eight metrics. My employees were stoked to achieve perfect service. We proceeded to dominate one target-niche after another. We stole only the most, net-profitable (and growing) customers from our unfocused competitors.