In other words, decide which customers to target…
Now, I know you go to work every day and discuss your clients with your colleagues, or you may chat to clients face-to-face in meetings. You recognise them – their outline is very clear and visible, and you know what they buy from you. But…how well do you really know them, or even better, how do you know what they are thinking, or what motivates them?
Unless you’re a very adept mind-reader, this could prove difficult. The marketplace is dynamic as technologies, innovations, and creative ideas advance. This leads us as consumers and suppliers to naturally become inquisitive about what else is out there for us to tap into – is there something else that’s better than what we have already? Are we missing out? These questions affect both us as business people, and our clients. We need, then, to try to stay one step ahead of our clients’ thoughts and try to meet their growing needs. But…where do we start?
Firstly, take a look at who you are actually selling to. You could break this down further, for instance, into types of – business, area, gender, age, hobbies, trades, healthcare needs, safety needs, and so on, depending on your products or services. Then, it’s time to start to think more deeply about what it is your clients are actually looking for. Is there anything they buy regularly? Do they buy at certain times of the year, but not others (seasonal buyers).What are their budgets? How much of that do they spend with you? Do they also buy from any of your competitors? Are they in businesses that need to change and adapt what they do in order to satisfy the demands of their own customers.
How can you make their job easier? What benefits can you provide?
Let’s take a look at the retail industry for a moment; they are extremely good at knowing exactly who their customers are. Retailers analyse their customers’ spending habits, and their demographics, and can find out what their interests are from their till receipt. Have you ever had personalised vouchers through your letterbox offering discounts on items you usually buy? They know what makes you tick, and now they are showing you how they can benefit you. Clever really…yet quite simple.
In a similar way, by carrying out analyses and audits of your customer base, you can find out ‘exactly’ who you should be targeting. Find out the ‘pain points’ of your clients and you can then aim to be of benefit to them. By looking closely at your business you can also discover who you shouldn’t be targeting, especially if they are not the most profitable for you.
By understanding who you are targeting you are in a better position to gain and retain customers.
If you would like any help or advice on how to ensure your business is really clear about who you are targeting, call Hannahon 01283 808460, or email email@example.com