Know Your Customer (Short Read)

Finding and retaining those profitable customers can be a real challenge for any small business!

There is a business adage that you need customers with a problem only your business can solve and it’s for you to identify that USP and communicate it clearly to that customer.

The best way to understand your customers and your potential customers is by researching your existing customer base, and identifying their characteristics particularly those with the highest volume of sales, and the most repeat custom!!!!! Don’t forget to integrate any costs associated with particular customers into your analysis, so you have a clear view of their net value.

Focus your energies on attracting new clients from your most profitable segment, carefully differentiating your offer to ensure it appeals directly to this type of customer. Also, find out what forums or other types of social media these customers use, and make sure to use this research in your marketing strategy to attract them. And finally don’t forget to thank your valued customers on a regular basis!

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