Know And Understand Your Customer
I frequently ask business owners who their TARGET CUSTOMERS are and, in the majority of cases, I get a vague answer which tells me that the majority of business owners do not KNOW who their TARGET CUSTOMERS are.
About 10% can give me a very concise answer which tells me that these owners KNOW who their TARGET CUSTOMERS are.
But what is very interesting to me is that the businesses that KNOW WHO THEIR TARGET CUSTOMERS are the businesses that are the MOST SUCCESSFUL – the top 10%, that I have talked about previously. The businesses that DON’T KNOW WHO THEIR CUSTOMERS are, are always the MEDIOCRE businesses with MEDIOCRE SUCCESS.
But There Needs To Be Understanding, too
When a business owner KNOWS WHO THE TARGET CUSTOMER is, he or she can UNDERSTAND that customer, too.
And, this is vital.
Business Success Is Proportional To Knowing & Understanding Your Customer
Business SUCCESS is proportional to CUSTOMER KNOWLEDGE AND UNDERSTANDING – the greater a business owner KNOWS and UNDERSTANDS THE TARGET CUSTOMER, the GREATER THE BUSINESS SUCCESS.
To be one of the TOP 10%, YOU NEED COMPREHENSIVE KNOWLEDGE AND UNDERSTANDING of your TARGET CUSTOMERS.
Knowledge & Understanding Of Your Customer Is A Gold Mine
Comprehensive KNOWLEDGE and UNDERSTANDING of your CUSTOMERS is a GOLD MINE to YOU – a licence to print money within your business.
This KNOWLEDGE and UNDERSTANDING will allow YOU to do the following:-
- Supply the RIGHT PRODUCTS
- Supply the RIGHT CUSTOMER SERVICE
- Sell at the RIGHT PRICE
- Use TARGETED MARKETING effectively
- COMMUNICATE effectively
Your KNOWLEDGE and UNDERSTANDING can allow YOU do so much.
How Well Do You Know & Understand Your Customers?
Do YOU know and understand your customers well?
The chances are YOU do NOT!
Change your THINKING now – take 10 minutes, now, and write down who YOU THINK your TARGET CUSTOMERS are:-
- Are they business customers or members of the public?
- What gender are they?
- What age group are they?
- What occupations do they have?
- What spending power do they have?
- How large is the main group of customers?
Here are just a few questions, you should ask yourself.
Then, YOU should ask yourself more questions:-
- What help or benefits do they need and want?
- What products will they buy?
- How many products will they buy?
- What will they pay for these products?
- What customer service can they expect?
- How often will they come back to buy more?
- How do I contact them with my marketing?
Once YOU start to do this exercise, more and more questions should come into your MIND and each ONE must be answered by yourself – the more questions and answers that YOU create, the greater your KNOWLEDGE and UNDERSTANDING of your TARGET CUSTOMERS will be.
Your KNOWLEDGE and UNDERSTANDING has to be so COMPREHENSIVE and in such DEPTH that YOU can literally put yourself into their shoes and THINK as they THINK.
When YOU have achieved this, YOU are then in the position to give your TARGET CUSTOMERS exactly what they want.
Set Yourself The Objective Of Knowing & Understanding Your Customer
Change how YOU THINK about your CUSTOMER now – set yourself the OBJECTIVE of KNOWING AND UNDERSTANDING YOUR TARGET CUSTOMER COMPREHENSIVELY.
Then make CHANGES to the way YOU DO THINGS and see how your CUSTOMER NUMBERS and your SALES RISE.
YOU NEED SMART BUSINESS THINKING AND SMART BUSINESS ACTIONS!!!
If you wish to discuss this more with me, please email me at Robert@prestigebusinesscoaching.co.uk