Customer targeting is done because every person is not your market.
If you try to market to everyone, you’ll reach no one.
So, how can customer targeting help you grow your business?
Why Target Customers?
Targeting a specific customer profile will allow you to clearly identify who will most likely buy your products – your current and future customers.
These individuals are commonly referred to as your target market.
Targeting also helps you relate to and understand their challenges and needs.
The more specific you can build this profile, the better because you’ll be able to present your product features and benefits in a way that truly matter to your prospect.
Who Are Your Past Customers?
If building a customer profile has you a little stuck, think about your past customers.
What were their challenges?
What were they using before switching to your product?
What features of your product did they especially like?
Keep building on the characteristics of past customers to create a detailed profile.
The more detailed your customer profile, the better your chances of connecting with prospects and increasing your customer base.
Identify Purchase Trends
Once you have a very detailed profile of your past customer base, analyze what type of product/services they purchased.
Do you see trends developing?
Do certain products sell better than others during different times of the year?
Do you sell more to a particular niche?
Are certain products purchased together?
Are certain products more popular in specific geographic markets?
Do you have a main referral source for these customers?
Chances are you can see very specific trends,
Customer targeting allows you to identify these “bright bulbs”, and this is where you should be spending your prospecting time.
Take the time to regularly review and track your past sales to clearly define your target market characteristics. Market factors change and your target market could shift.
A good practice would be to perform this analysis when you do your business SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats).
Doing both of these at the same time will allow you to develop a very comprehensive plan
Once you know your target market, spend time where you will find them.
Build rapport with them and communicate your product features and benefits in a way that truly matter to your prospect, and then watch your business grow!
Did I leave out any questions to analyze when doing customer targeting?
Let me know in the comments section below, and thanks for reading!