🤔 What is the Least Performing Customers Report?
Customer retention is one of the most crucial aspects of running a successful business. A high retention rate will ensure that a business remains stable and continues to operate. In order to ensure that your business has a high retention rate, you must know what you’re doing when it comes to retaining customers.
The Least Performing Customers Report is an objective view of your user base. It can be used in different ways depending on the goals of your company. It can help you understand the users who are less likely to adopt your product again or to see which of your users are not returning.
⚖️ How is the Least Performing Customers Report calculated?
To have access to your customers’ performance, you’d need to keep records detailing the amount you gain from each of them. This can be really time-consuming since you’d need to update this document or table each time a purchase was made or when the customer asked for a refund.
To provide you with the most accurate report about the least performing customers, Synder Insights ranks customers from lowest to highest based on the amount of gross income per customer for a given period.
See the other financial metrics Synder Insights provides you with and create a winning strategy for your business growth based on this information.
🔎 What do these numbers tell us?
The Least Performing Customers Report by Synder shows you the lowest-to-highest ranking of your customers based on how much they’re spending on your products. You can sort the customers by income, number of purchases, etc. to see the most accurate report.
If a customer is unhappy with your services, chances are they may not be the only ones. Service quality can’t always be measured by the number of customers you have. If a business isn’t delivering what customers have paid for, then they’re the ones who are most deserving of your attention.
📈 What can be done to grow sales based on these numbers?
- Understand your customers better and create new strategies based on them
With Synder’s ranking you can learn who your least performing customers are. This understanding will help you understand which customers are not affected by your business and create a portrait of your average customer.
- Manage your targeting better
If you’ve been on the market for some time and managed to create a big customer base, such a report will tell you which customers you might want to avoid when targeting. Don’t forget that at the beginning any customer is a blessing, so spend some time on research before you take action.
Let Synder Business Insights do the numbers so that you can focus on the right strategies for your business!