Marketing Sense: What Do Your Best
Customers Smell Like?
7 critical things you should know about
your customers
Smart marketing starts with asking the
right questions and uncovering the answers that will help
you build your business.
If information is power, how much do you
know about your customers? Try this quiz.
1 Who are your three best
customers?
2 Why do they do business with
you?
3 What is their competitive
edge?
4 What are their greatest
challenges?
5 Who are their chief
competitors?
6 What significant trends are
impacting their industries?
7 What do your best customers
have in common?
Marketing intelligence doesn’t need to be
expensive. It can be as simple as asking your customers
these questions and listening carefully to their
responses.
1 Who are your
best customers?
How do you define 'best'? Is it
the one who paid you the most money this year, the one who has
paid you the most over the last few years or the one who
provides steady business, pays promptly and is easy to service?
You decide. You might need to create a few categories of best
and deal with each differently. However you define best,
establish your criteria then measure it regularly. Know who
your best are and what they're doing. Treat them special. Stay
informed and keep them informed. Stay in contact with them more
often.
2 Why do they do business with
you?
Stop patting yourself on the back
and claiming that they are smart enough to pick you. Maybe
that's true. But don't assume. Forget surveys; ask them
directly, over coffee or lunch, "Tell me why you selected my
company as your supplier?" Follow up with, "I am always trying
to improve my service, and I want to ensure I don't make the
wrong changes. So if there is one thing that I should not
change what is that?" You might be surprised by their
answer.
3 What is their competitive
edge?
Would you do business with your
best customers? After you ask them why they do business with
you, ask "Why do your best customers do business with you?"
Watch their reaction at your interest in them. If you know
their competitive edge then you can demonstrate how your
company can help them with that important edge. You can also
offer them ideas to help achieve and promote that edge. They
will love you for it.
4 What are their greatest
challenges?
Is it competition, staff, or
finding time to relax? If they don't want to tell you then back
off. Likely they will be only too happy to share their concerns
with a trusted colleague. Listen and don't try to solve their
problem unless that is your area of specialty. Ask them how
they are approaching this challenge. You will learn more about
them in understanding how they think. You may be able to
recommend a book, seminar, or associate who specializes in that
challenge. Or you may be able to help them directly by adapting
your service to help. If you can help your customers with the
ghosts that keep them awake at night, you will become
invaluable.
5 Who are their chief
competitors?
If you know whom they see as
their chief competition you gain insight in to how they
position themselves. Are they the market dominator or the
underdog? Each will have entirely different corporate cultures,
styles and needs. You will market to them
differently.
You also need to decide if and
how you will deal with the key competitors to your best
customers. It will depend on the nature of your business and
the level of trust and confidentiality needed to maintain good
customer relationships. If you are tempted to sell to their
competition remember that the surest way to create allies is to
have a common enemy.
6 What significant trends are
impacting their industries?
Be aware of threats to your
customers' viability and discover new opportunities for your
business. How is their industry changing? How will they do
business in one, three and five years? And how will you fit
into that?
If you are aware of these trends
then more news about them tend to grab your attention when you
read the news or talk to others. You might clip and send your
customer an article that talks about the trends. Your customer
will appreciate your interest. When you market your product you
may explain how it protects them from a negative trend or takes
advantage of a positive trend.
7 What do your best customers
have in common?
If you want more 'best customers'
then know how to find them. Describe your best customers and
post it on your office wall. It's like a wanted poster for good
customers. If you know what you are looking for you are more
likely to find it.
Think about how a hunter tracks
their prey. They learn the habits, smells, likes and dislikes.
You can do the same to find your big game. Here is a sampling
of the information you might collect about your best customers;
clubs and associations of which they are members, where they
live, what they read, their education, special interests,
sports and hobbies, recreation, demographics & ethno
graphics, etc.
You can do two things with this
information. Direct your marketing to these groups or places.
It is like fishing. Discover where to catch the best fish and
concentrate your efforts in those places. Find where you will
catch the best customers and concentrate your marketing
there.
Secondly, ask your best customers
to refer you to others like them in their groups. We prefer to
do business with others who are like us. These referrals have
greater weight and it helps you catch the customers you
want.
Sharpen your nose and happy
hunting.
© George Torok is co-author of the
national bestseller, "Secrets of Power Marketing", the
first guide to personal marketing for the non-marketer.
To receive your free copy of “50 Power Marketing Ideas”
visit http://www.PowerMarketing.ca
To arrange for George
Torok to speak at your conference visit
http://www.Torok.com
To arrange for a media interview
call 905-335-1997
George Torok brings practical insights to
business. He is co-author of Secrets of Power Marketing, the
first guide to personal marketing for the non-marketer. As host
of radio show "Business in Motion" he has interviewed over 400
business leaders. He is available to deliver keynote speeches
and business seminars. Contact him at 905-355-1997 or visit
www.Business-Speaker.biz
You can read an
excerpt from the book at www.PowerMarketing.ca
. Get
your free Marketing Tune-up at www.MarketingTuneUp.ca
.
Marketing expert, George Torok is available for speaking
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at www.Torok.com
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Business Articles by Business Speaker, George Torok
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