Wednesday 6 March 2013

Marketing Rule #1: Know your customers


Customers come in all shapes and sizes. They differ from one company to another; even those that sell similar products or services.

But how well do you know yours? 
Do you know which industries they are from? Or the typical job roles they perform? 

Are there influencers within their companies who affect the suppliers or products they select? Or are they are in a particular stage of company growth?

Every business relies on its customers. To survive and grow we must know who our customers are, what they buy from us and why they buy from us.
When successful businesses set up, they'll have done their homework on who they want to sell to; define their market place and develop a business plan of how they intend to grow their business. They are able to give a personal service to each of their clients and know that they need to find more people who are similar to their best customer.

However, as client bases grow, it is easy to stop reviewing with quite so much detail the mix of your customers and whether their profile has changed. 

To avoid missing changes in your target market, regularly review your sales to answer the following questions:

  • What are they buying?
  • Who are your clients? Who are your largest clients?
  • What industry are they from?
  • What are the buyers’ job titles?
  • How long is the sales process?
  • Who else influences their buying decision?
  • How did they find out about your company and your services/products?
  • How often do they buy from you?
  • How can you increase the quantity / frequency / profit margin on what they buy?

In my experience, companies usually have the answers to the above points but struggle to know where to look for that information. So in our consulting and training sessions we work through a proven process to help clients understand who is buying what and whether they want this mix to change. We then look at ways to develop their customer base and structure their marketing and promotions to support them.

For more information and help on knowing your customers, do give us a call on +44 (0)1283 808460 or email hello@sookiasmedia.com.