Know Your Customer, Know Your Business

When you’re running your business it’s important to understand exactly who is buying your products and services. For starters, how many individuals have your business directly helped during the recent past. Next, you need to know which industries are the primary marketplaces for your products or services.

These are some ways of tracking your customers. In order to make this determination, you need to keep several sets of books and figures at hand. It’s also important to keep track of which customers have bought which items within your company.

1. Check the sales figures at your local bookstore. Find out what’s selling there and why it’s selling. This is a great way of discovering who is currently being served by your business.

2. Look at the sales figures at your local hardware store for a few days. What products are you seeing the most demand for? If you’re a hardware store, you might want to ask those who’ve sold the most of certain items to see what they can do to increase their sales. You’ll want to use this information as part of your sales analysis.

3. Talk to the merchants and store owners in your area. What sorts of things have they asked you to increase? Why does your staff recommend certain items to these merchants? Ask the folks who’ve bought the most for suggestions on which items to put on sale to generate sales.

You’ll be able to discover your top customers by asking how they found your business. If their first action was to visit your physical store, then you’ll know one of the individuals who found your business is a frequent customer. If instead they came to search online, then you’ll know one of those individuals is a search engine user.

By asking questions like these, you’ll be able to discover who the primary marketplaces are for your services or products. You’ll learn which industries are currently providing the highest demand for the services or products you offer.

As part of the sales analysis, you’ll learn what factors influence your primary marketplaces to increase sales. You’ll also learn what other factors influence sales so you can adjust your advertising tactics to get the desired sales response.

A good sales person will know all to well the need to reach specific segments of the population for business marketing. A good sales person will get to know the specifics of your products or services so that they’re most effective in influencing the sales process.

It’s a good idea to have a good sales person work with your sales team to create targeted campaigns that’re going to meet the specific marketing process, and to be sure that the sales process itself is one that leads the prospect to purchase.

If you do business as usual, you’d be spending your advertising dollars on advertising to everybody or to no one. If you’re like many other businesses, there are particular customers you’d like to target more and those you don’t.

There’s a big possibility that the customer you want to influence is also an existing consumer of other products or services you offer. In this case you might wish to advertise products that you want to influence more than others. This way you create awareness among those you don’t influence and you make your presence felt among those you influence.

In the same way, you’d like your business to have a greater presence amongst consumers for products you want to influence, but that are not among your primary marketplaces, then you’d want to advertise more of those products. The less of those products you advertise, the less of them you’ll have amongst your primary marketplaces.

Knowing what makes your primary marketplaces grow and the products that are important to your customer leads to the most effective advertising dollars as well. A great primary marketplace will know which products are likely to be requested by its customers and will advertise those products among its customer base most of the time. When you’d be looking to target your efforts among your customer base, know which products are most likely to be requested by it and advertise accordingly.

To have the best advertising outcomes, use a business process that takes this knowledge into consideration. When you know your customer’s business process, you can start advertising products most of the time and influence where your dollars are spent.

Know your customer and your business and you’ll know what’s important to your business and most of the time you’ll know not only which products we should advertise but how we should advertise those products. With this knowledge you’ll be able to get the most effective advertising dollars spent in your favor.

The key to creating a most effective advertising campaign is to know your customers and your business.

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