How to Target the Right Customers?

Although this might be simple, but to be honest all what you need to do is to

focus on your existing customers, figuring out what they require and make their life easier.

There is no point wasting your time and money marketing your products and services to people who are not interested in what you are selling. You need to communicate with the people who matter most to your business and do it better than your competition.

How can a company target the right customers?

1) Always you have to know who your customers and prospects are, this will help you to understand your business and plan the strategies based on your market.

2) Of course, not all your customers are profitable so you have to find the difference between the revenues earned from and the costs associated with the customer relationship in a specified period of time.

3) Once you know the profitability of each customer, you have to decide which customers you want to attract or keep from losing. Please note that customers that are not profitable today can be tomorrow and also some customers are very active users of your products and provide you with good feedback and references.

Dilbert on customers references, by Scott Adams

The next step is to create a customer profile to understand their characteristics, attitudes and buying behaviours. The following questions will help you on this:

1. Who are they, where are they located?

2. How aware are your customers of your brand related to your competition?

3. How much do they spend?

4. How often do they buy from you?

5. How do they buy and where?

6. Why are they buying your products, what reasons do they have?

7.  How do they use your products?

8. What will they improve in the product, buying experience and relationship with you?

The more you know about your existing customers the more you will make them feel special and increase their loyalty

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