Learning about your best customers is the best way to create a target market profile and search for new best customers. But too few solopreneurs, coaches, consultants, marketers and small business owners take the time to get to know their customers in a way that can help them build and grow their company.
Here are 13 critical facts every business must know about their best customers.
- Demographics. When I say demographics, I don’t just mean gender and age. You need to dig deeper and know lifecycle stage, housing type, occupation, income, race, religion and education.
- Psychographics will tell you what your best customers and target market value, how they live and what makes them tick. Psychographic data to collect includes lifestyle, values, beliefs, hobbies, goals and dreams and socio-economic class.
- Their REAL pain or need. No one buys a $100k Mercedes simply because their old car broke down and they need a new one. They buy a Mercedes because of image, style, social class. While you may not sell a luxury brand ,every purchase serves a hidden, deeper need or desire. It’s up to you to figure out what that is and tap into it for your marketing campaigns.
- How they shop for what you sell? What are the buying triggers and the buying cycle for what you sell? Whether you sell kitchen remodels, personal training or accounting services, there is a pain trigger – that moment when the prospect says, “enough is enough, I’m going to move forward with this purchase”. There is also a buying cycle- how do they shop? What research do they do? And once they do the research do they act immediately or stew for months? Do they shop around for the lowest price or best value? What do they look for in the shopping around phase?
- What is their process of finding what you sell? Where do they go to do research and learn? Online? If so, where? Google? Blogs? Industry publications? Or do they ask friends and relatives for referrals? Having this information will help you nurture your prospects along their buying cycle.
- Where do they go for news and information? This is insight into their psychographics as well. Knowing what publications, news sources or social media sites they subscribe to will tell you a bit about who they are, but also where to find them.
- What other providers did they look at/consider? Knowing this will tell you who your biggest competitors are.
- Why did they choose you? Important information to have so you know how to differentiate yourself and stand out from your competition. This is a key positioning statement you can use in your marketing.
- What are their feelings/thoughts/ concerns about your industry? Some industries have very bad reputations –contractors and attorneys are a good example. Some are just full of misconceptions and misinformation– like Marketing Consultants. It’s important to know these things so you can address – and correct them in your marketing messaging.
- What made you stand out from the crowd? Consumers have a ton of choices. It’s crucial to know what made your business stand out to potential customers. You can then grab onto this and run with it in your marketing.
- What other products or services would make their lives easier? Ask your best customers what other products or services would be helpful when the use your product or service. . This gives you a great opportunity to cross and up-sell but also add tremendous value to the service and experience you deliver. Anything you can do to make customers’ lives easier is a marketing win!
- What expectations did they have when working with you? Asking your best customers what they expected can give you insight into the things you do well – and things that perhaps you can improve upon to create a killer product or service experience.
- Do they refer you? Why or why not? Learn from the mouths of the customers who love your small business why they trust you enough to refer their friends and family to you. And if they aren’t referring you, ask what’s getting in the way. Maybe they just don’t know how. A little education – or incentive could go a long way.
If you would like help getting this information, contact us. Fortune Marketing does market research, target market and competitive analysis, and marketing planning. We are here to help you build the business of your dreams!