FBA’s Profitability Enhancement Service is designed to help increase your profits and shareholder value by identifying practical income improvement and expense-reduction opportunities.
By examining how your business is currently operating, our Profitability Enhancement Services can result in:
- Improved Market Share
- Improved earnings.
- Improved income and expense controls.
- Reduced labour costs.
- Improved cross-training.
- Improved operating efficiencies.
One of the quickest ways to improve profitability is to identify both your most and least profitable customer segments:
- Build loyalty and satisfaction programs for your most profitable customers.
- Reduce cost or raise revenues for the least profitable.
- Inability to distinguish profitable customers from unprofitable customers.
- Uncertainty as to how customers use services and distribution channels.
- Uncertainty as to what characteristics typify target customer groups.
- Previous customer segmentation efforts have not had significant bottom-line results
- Use purchase/revenue and customer transaction data to develop true profitability picture.
- Capture all customer transactional behaviour in all channels.
- Perform cluster analysis on key customer behaviours and correlate to target characteristics.
- Make sure future customer segmentation efforts result in organizational changes to align customer needs with organizational focus and responsibility