Thursday, 29 November 2012

Focus on your ideal customer and resist trying to market to everyone

You may argue that your product and service can be purchased by anyone, but if you want to make the most of your marketing resources in terms of money and time, then we suggest that you look to focus your activities on attracting your ideal customer. So why?
  • Your ideal customers usually make up most of your profits
  • Working with ideal customers is much more rewarding and enjoyable
  • You can concentrate your marketing efforts more efficiently
  • You can better understand the need and how you match your benefits
  • You will be able to better identify any expectation gap
  • You can easily adapt as you know your environment
So the best ways to identify your 'ideal customer' is:
  1. Customer profiling - review the trends of your top 20% of customers
  2. Segmentation - use demographics, classifications, life cycles, psychographics and contextual marketing to focus on your ideal prospect
  3. Market research - ask your ideal prospects, not your friends, some key questions such as what they expect, where they are buying now, why, and how often they buy.

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