How To Discover The Best Customers For Your Business

discover your best customersA mistake a lot of people and businesses make is assuming everyone is their target market. Targeting everyone is targeting no one. You can’t please or serve everyone so you have to identify and serve a particular consumer group (the best customers for your business). Even if your business appeals to a diverse group of people, you need to identify your ideal customer and make them your primary customer (market).

So ask yourself, who are the best types of people /businesses i should be targeting? This is crucial to growing and sustaining your business. Why?

 To find out the many benefits of having a target market, click here.

So What Is The Process of Identifying Your Ideal Customer? (Free Worksheet)

  • First understand the problem your product/service solves. Does it satisfy a basic need, solve a problem or exist to make people feel good? For businesses, does it increase revenue or decrease expenses etc ?
  • Ask yourself, who would pay for the solution my product/service offers and are they enough to sustain my business? Don’t assume most people will need your service/product and therefore pay for it or are even aware they have a problem. You can be so passionate that you overestimate the market size. Be realistic, research and find out.
  • Talk to and study people who have already bought from you, your most profitable customers. What are the characteristics they share? Are they big enough for you to concentrate on? Also determine if you want to make them your ideal customer group or concentrate on another group.
  • The way you sell your product/service or make money from it, is a clue to your ideal customer eg if you sell online, it means your ideal customers may be younger than someone who sells through a physical store.
  • Evaluate the target customers of your competition. It can help you determine yours but once you have defined the market, don’t copy their approach to business. Find a way to differentiate from your competition.

What’s Next After Identifying Your Best Customers?

Now you can move on to actually defining the characteristics of the people/businesses who are most likely to do business with you or, who you would like to do business with or who you should target. Create a customer profile using geographical, demographic and psychographic criteria.

  • Geographic characteristics refer to their physical location (country, state or even street).
  • In demographic, you group based on;
    • Age eg children, teens, young, middle aged, elderly etc.
    • Gender which can be male, female or both
    • Education eg secondary school, university educated or not educated.
    • Income eg low, medium or high income earners.
  • Psychographic refers to their personality, values, interests/hobbies lifestyle eg conservative, trendy, adventurous or economical

 For business it can be industry size, geographical location, annual sales/revenue, number of employees, company values etc

Examples

A clothing store selling maternity clothes may define its market as 25-40 year old university educated pregnant women with 800,000 Naira annual income in Lagos.

Another example is 35- 50yr male/female university educated mid- level managers in Port-Harcourt  with a monthly income of 200, 000, who are having a difficult time finding sales leads.

I created a worksheet to help you identify and describe the best or ideal customer for your business. Access it here for free

The more detailed and specific you can get, the better. The whole process involves research and if your target customer group is too small then it’s not ideal, you may need to target some other group, broaden your target market or unfortunately let go of the idea, business. Also you can have more than one target ideal customer group.

This is an ongoing process so be prepared to redefine and expand it in future.

I created a worksheet to help you identify and describe the best or ideal customer for your business. Access it here for free

Comments are welcome.

Emem Ita

Emem Ita

Hello, my name is Emem. I'm a marketing & social media strategist with a flair for reading, research, pretty shoes and luscious cake.

I help Entrepreneurs, Coaches & Trainers Move From Struggling Online To;

*Increasing Their Online Visibility & Influence even if they are introverts
*Consistently Attract Customers Online

Download this online customer attraction checklist and start consistently attracting customers online. Click this link to download http://bit.ly/2wwzJ1u

Schedule a free strategy session with me by clicking this link http://bit.ly/2hLXfoC
Emem Ita
About Emem Ita

Hello, my name is Emem. I'm a marketing & social media strategist with a flair for reading, research, pretty shoes and luscious cake.

I help Entrepreneurs, Coaches & Trainers Move From Struggling Online To;

*Increasing Their Online Visibility & Influence even if they are introverts
*Consistently Attract Customers Online

Download this online customer attraction checklist and start consistently attracting customers online. Click this link to download http://bit.ly/2wwzJ1u

Schedule a free strategy session with me by clicking this link http://bit.ly/2hLXfoC

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