The government's business support organisation has launched an online tool allowing firms to identify the value of individual customers.
Using the service at businesslink.gov.uk, business owners answer a series of questions relating to the particular customer.
The tool will then suggest ways to improve profitability allowing the business to identify and benchmark the behaviour of the customers.
Jonathan Hollow, portal editor at businesslink.gov.uk, said: "It is important that businesses take the time to analyse customers, get to know their needs inside out and target specific sales and marketing activity to their most valuable customers if they are dedicated to growing their business.
"This information, and the new tool on businesslink.gov.uk, will help businesses to deliver improved customer service, build customer trust and loyalty as well as encourage new customers.
"The results of this investment can be a more successful business and dramatically increased profits."
