Tag: small business

Your Customer Is King

Posted on 18th June 20173rd March 2018 by Robert

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!

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:

THINK DIFFERENTLY, ACT BETTER!

HAVE SMART BUSINESS THINKING & SMART BUSINESS ACTIONS

More Reading From Robert Viney:-

Know And Understand Your Target Customer

Posted on 11th February 20169th April 2018 by Robert

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.

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: