Whether companies call it the 80-20 rule or base it on a deeper value potential and risk analysis – it is widely acknowledged that some customers are more important than others.
Companies prioritize their resources and efforts accordingly, often assigning dedicated, senior people to particular business relationships and setting up supportive processes, systems, and tools. The intention is to create value and drive superior growth in order to justify the investment. Just maintaining the status quo is not sufficient.
Yet, many firms fall short in achieving their value and growth expectations for two reasons. First, their value focus is (unintentionally) limited. And second, they fail at collaborating across functional/geographical silos.