Tag: CUSTOMER

Your Customer Is King

Posted on by Robert

Your-Customer-Is-King-1 Your Customer Is King

Your Customer Is King!

Your Customer Is The Most Important Part Of Your Business.

Without your CUSTOMER, YOU will have NO SALES with NO money coming into your business and, ultimately, you would have NO PROFIT for your business.
But to make a GOOD PROFIT, YOU need a LARGE number of customers buying a LARGE number of products, giving you LOADS of money as SALES.
This is why your CUSTOMER IS KING!
And, you must keep THINKING this.
 

Many Businesses Don't Have Enough Customers To Provide Enough Money For The Business To Function

Many businesses that struggle or fail, DON’T have enough CUSTOMERS buying enough products to give the business enough MONEY to function right.    Then, there is NOT enough MONEY to cover the COSTS and EXPENSES of the business and the business RUNS OUT OF MONEY and STOPS!!
It is as simple as that.
 

Focus On The Customer Is The Answer

The answer is to accrue enough CUSTOMERS to provide the business with enough MONEY to pay the COSTS and EXPENSES and to give the business a good PROFIT,
Entrepreneurs and businesses that FOCUS HEAVILY on their TARGET CUSTOMERS and RUN their businesses around their TARGET CUSTOMERS, always do MUCH BETTER and always have greater SUCCESS.
This is known as making the business CUSTOMER-CENTRIC or, in other words, running the business around the CUSTOMER.

Being Customer-Centric, Allows A Business To Think Differently

By being CUSTOMER-CENTRIC and having a heavy FOCUS on the CUSTOMER allows the business owner to think differently about the business and, in particular, think differently about the CUSTOMER.
These businesses:-
  • Know their target customers well
  • Understand their target customers comprehensively
  • Understand the need and wants of their target customers
  • Understand what products will deliver benefits to their target customers
  • Give their target customers what they want & need
  • Know how to contact their target customers through their marketing etc.
  • Keep talking to their customers
Businesses that treat their CUSTOMERS AS KING and are CUSTOMER-CENTRIC have a far deeper knowledge of their target customers - they know who they are, what they want and what they need and they UNDERSTAND what products to sell to them.
 

Greater Sales And Profits Result

The result is always more PRODUCTS SOLD, greater SALES, greater REVENUES and greater PROFITS.
Through this knowledge, they also understand how to reach them better through their marketing; their marketing is more targeted, less wasteful and more effective and this creates more CUSTOMERS for the business at a reduced marketing cost.
 

Create An Army Of Loyal Customers

Over time, this approach accumulates a large volume of CUSTOMERS for a CUSTOMER-CENTRIC business - AN ARMY of LOYAL CUSTOMERS who return time and time again to buy their PRODUCTS and put LOADS OF MONEY into the business.

 

Let Me Ask You Some Questions

  • How CUSTOMER-CENTRIC are you?    
  • Do you think that your CUSTOMER IS KING?
  • How heavily do YOU FOCUS on your TARGET CUSTOMER?
  • Do YOU really UNDERSTAND your TARGET CUSTOMERS and what their NEEDS and WANTS are?
  • Do your products really deliver the RIGHT BENEFITS to your target customers?
  • Do YOU have an ARMY of LOYAL CUSTOMERS buying time and time again from YOU?
 

Your Sales & Profits Could Be Low, If You Don't Have Focus On your Customer

If your SALES and PROFITS are LOW, it could be because YOU DON’T FOCUS enough on your TARGET CUSTOMERS and YOU DON’T RUN your business around your CUSTOMER enough, if at all.
It is time to change your thinking:
 
THINK DIFFERENTLY ABOUT YOUR TARGET CUSTOMERS - THINK YOUR CUSTOMER IS KING!
 
 Your-Customer-Is-King-1-600x319 Your Customer Is King

Set Yourself A New Objective

Set yourself a NEW OBJECTIVE and say to yourself now:
“My OBJECTIVE must be to FOCUS HEAVILY on my TARGET CUSTOMERS and to RUN my business around my TARGET CUSTOMER”.
Whether you are starting a business or you are an established small business, you must design your business plan and business strategy around your customer.
Make your business CUSTOMER-CENTRIC and think that your CUSTOMER IS KING!
If you would like further advice on this article, please contact me: robert@prestigebusinesscoaching.co.uk

Or contact me below to continue the conversation:

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THINK DIFFERENTLY, ACT BETTER!

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More Reading From Robert Viney:-

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Robert-Viney-525x350 Your Customer Is King

Know And Understand Your Target Customer

Posted on by Robert

Know-Understand-Your-Customer-2 Know And Understand Your Target Customer

Know And Understand Your Target 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 who do KNOW AND UNDERSTAND THEIR TARGET CUSTOMERS best, 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.
You must know and understand your target customer.

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 Target 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 license 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.

Know-Understand-Your-Customer-467x350 Know And Understand Your Target Customer

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 must know and understand your target customer.

If you wish to discuss this more with me, please email me at Robert@prestigebusinesscoaching.co.uk or contact me below:

Contact-Robert Know And Understand Your Target Customer

 

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Put Your Customer At The Heart Of Your Business

Posted on by Robert

PUT-YOUR-CUSTOMER-AT-THE-HEART-OF-YOUR-BUSINESS Put Your Customer At The Heart Of Your Business

Put Your Customer At The Heart Of Your Business

Run Your Business Around Your Customer

If YOU have read my article ‘Your Customer Is King’, YOU should now think that your CUSTOMER is the MOST IMPORTANT PART of your business -  your CUSTOMER must be at the HEART of your business & you must prioritize achieving CUSTOMER LOYALTY.

If YOU are starting a new business or YOU are already running a business, YOU must THINK this.

Your business must be built around your customer.

Related Reading: Your Customer Is King!

 

 

Without Your Customer, You Have No Business

Your business SUCCESS and your PROFITS are directly related to how many CUSTOMERS buy from YOU, how much they buy from YOU and how much they spend with YOU.

If YOU only have a MEDIOCRE NUMBER OF CUSTOMERS buying a MEDIOCRE NUMBER OF PRODUCTS from YOU and SPENDING only a MEDIOCRE AMOUNT of MONEY with YOU, YOU will only have MEDIOCRE BUSINESS SUCCESS and a MEDIOCRE PROFIT.

But have a HUGE ARMY OF LOYAL CUSTOMERS buying LOADS of your PRODUCTS and have this HUGE ARMY OF LOYAL CUSTOMERS returning to your business, repeatedly to keep BUYING MORE, SPENDING LOADS of MONEY with YOU, then YOU will take your business away from MEDIOCRITY into being a MASSIVE SUCCESS with MASSIVE PROFITS.

 

Change Your Thinking

You must CHANGE YOUR THINKING -  THINK to put your CUSTOMER at the HEART of your BUSINESS and RUN your business around your CUSTOMER.

The place to start is to IDENTIFY a LARGE group of your TARGET CUSTOMERS for your business. YOU should then IDENTIFY what HELP MOST of them need from your business.  Then, YOU should PROVIDE the right PRODUCTS that will HELP MOST of them.

When YOU are happy that MOST of this LARGE GROUP of TARGET CUSTOMERS will repeatedly buy from YOU and become LOYAL CUSTOMERS and SPEND LOADS of MONEY with YOU, YOU should THINK about the PRICE that they will pay.

Some quick numbers should then follow, taking into account an estimate of what your REVENUE SALES and COSTS will be -  if your business proposition looks very VIABLE with MASSIVE PROFITS likely, then YOU should consider continuing with your business idea.

But only if MASSIVE PROFITS are likely.

 

Take Your Thinking Further ...

YOU should then take your THINKING MUCH FURTHER -  YOU should THINK how YOU can OPTIMIZE SALES with your group of TARGET CUSTOMERS.

YOU should THINK about:-

  • ESTABLISHING GOOD CUSTOMER TRUST
  • PROVIDING EXCELLENT PRODUCTS
  • PROVIDING EXCELLENT CUSTOMER SERVICE
  • PROVIDING EXCELLENT CUSTOMER EXPERIENCES
  • CREATING MASSIVE CUSTOMER SATISFACTION
  • PROVIDING TARGETED MARKETING THAT WORKS
  • PROVIDING EFFECTIVE CUSTOMER COMMUNICATION

Your TARGET CUSTOMERS will only buy from YOU, if YOU get these RIGHT, too.

CUSTOMERS will only buy from YOU, if they TRUST YOU, your BUSINESS and your PRODUCTS.  Your CUSTOMER SERVICE has to be EXCELLENT and must be modelled on the CUSTOMER SERVICE that your CUSTOMERS want from YOU.

Ultimately, though, you have to equal or exceed your customer expectations and give them an EXCELLENT CUSTOMER EXPERIENCE - then your CUSTOMER SATISFACTION rating will be high.

Achieving an EXCELLENT CUSTOMER SATISFACTION has to be your overall OBJECTIVE with all this.

YOU must also THINK about having the right TARGETED MARKETING and GOOD CUSTOMER COMMUNICATIONS for procuring and keeping your TARGET CUSTOMERS -  this must involve TELLING YOUR CUSTOMERS what they want to hear.

 

Most Small & Medium Sized Businesses Don’t Think Like This

Most small and medium sized businesses don’t THINK in this way and they don’t put their CUSTOMERS at the HEART of their businesses.

If YOU are one of these -  CHANGE YOUR THINKING NOW!

Set a NEW OBJECTIVE:

PUT YOUR CUSTOMER AT THE HEART OF YOUR BUSINESS AND MODEL AND RUN YOUR BUSINESS AROUND YOUR CUSTOMER.

If YOU wish to discuss this further with me, please email me at robert@prestigebusinesscoaching.co.uk

or contact me here:

Contact-Robert Put Your Customer At The Heart Of Your Business

Newsletter Put Your Customer At The Heart Of Your Business

Robert-Viney Put Your Customer At The Heart Of Your Business

 

 

Don't Make The Same Mistake As Marks & Spencer

Don’t Make The Same Mistake As Marks & Spencer

Posted on by Robert

Don’t Make The Same Mistake As Marks & Spencer

How well do you know and understand your customers? –  hopefully better than Marks and Spencer!

Early in January 2016, Marks and Spencer reported poor non-food sales, while their food sales did really well.  Here, Marks and Spencer demonstrates brilliantly how important it is to KNOW EXACTLY WHO YOUR TARGET CUSTOMERS are, if you are to optimize your sales.

mS Don't Make The Same Mistake As Marks & Spencer

On the food side of the business, the products offered are exactly what the customers want from Marks –  the business knows and understands their TARGET CUSTOMERS and they know what PRODUCTS these customers want.  And, through this knowledge, they are able to target these customers well with their marketing.  The result is and has always been good food sales.

NON FOOD SALES ARE POOR!

But on the non-food sales, Marks does not enjoy the same success and the reason is very simple  –  they do KNOW and UNDERSTAND who their TARGET CUSTOMERS are.  Women’s clothes has always been the major part of non-food sales, but there is a real disconnect here in how they approach this, the biggest part of their market.  For years, the TARGET CUSTOMER has been the woman over 55, yet they don’t offer the PRODUCTS that this age group want to buy.  Instead, they offer clothes that are based on the fashions from the ‘catwalk’ aimed at younger women.  What’s more, their marketing reflects this, too  –  it is targeted at the younger woman.   This age group tend not to shop at Marks and Spencer, preferring outlets such as Next. And, even those of this age group who do shop in Marks and Spencer say there is nothing for them there to buy.

One BIG FACT that Marks and Spencer seem to miss is that daughters do not buy clothes in the same shops as their mothers buy their clothes from. Marks should let Next deal with the daughters, while they supply their mothers.

When you look now at the clothes offered to women by this business, I think there is a vast and confusing choice, which they are hoping will appeal to women between the ages of 20 upwards.

I am not the only expert to say this, most retail industry experts have the same view. If Marks and Spencer were to accept that their TARGET CUSTOMER is the over 55 age woman and accept they must offer clothes that this age group want to buy, that would be a good FIRST step.   But they have to go further  –  they have to engage with these women, very comprehensively, and ask them EXACTLY what they want from Marks and Spencer.

Then, when they offer the clothes that they are told to supply, customer numbers would improve and sales would recover, too.

THEY NEED TO RESEARCH HEAVILY

I think if they were to RESEARCH heavily what this age group want in terms of lifestyle clothing, they may well find that women in their early 50‘s and 40’s would also buy these clothes, too, and this would still give them a very broad CUSTOMER TARGET range, but not as broad as what they are offering now. The result would be a much better shopping experience for their TARGET CUSTOMER with a smaller, less bewildering range of clothes aimed at a smaller group of customers.

YOU MUST BE DIFFERENT

YOU MUST BE DIFFERENT TO MARKS AND SPENCER –  YOU MUST KNOW AND UNDERSTAND YOUR TARGET CUSTOMER.

Then, from that UNDERSTANDING, you must ensure your PRODUCTS are exactly what your TARGET CUSTOMERS NEED and WANT and you must ensure your MARKETING is TARGETED exactly at those TARGET CUSTOMERS to tell them about you and your business.

  • KNOW & UNDERSTAND YOUR TARGET CUSTOMERS
  • SELL THEM EXACTLY WHAT THEY WANT & NEED
  • MAKE YOUR MARKETING TARGET THESE CUSTOMERS

This is the SMART way to do business –  but, what amazes me is that Marks and Spencer are not the only ones to make this BIG MISTAKE  –  don’t let that be you.

THINK SMART, ACT SMART!

NEWSLETTER-300x300 Don't Make The Same Mistake As Marks & Spencer