One of the many keys to success as an entrepreneur is
knowing who your customer is and what they want. “Knowing and understanding targeted customers
is the overarching rule of exceptional companies. Award-winning business builders know their
customers as well as they know their own families, perhaps even more so.”
Successful entrepreneurs know the exact needs and buying
behaviors of their customers and specific individuals they are looking to
target. They have done their homework
and analyzed their target audience. In
essence, they know their customer’s profile – age, gender, income, professions,
education level, associations, tastes, interests. They understand their customers’
likes, dislikes and interests. Knowing a
customer to this depth is one of the key characteristics of highly successful
business leaders.
On the flip side, entrepreneurs who don’t focus on what
their customers need and want often fail.
Cultivating a relationship with individuals who might buy your products
is key. “All too often, entrepreneurs
spend their energy on everything but having conversations with current and
potential customers.”
Companies that know and understand their customer can use it
to their advantage and reap rewards that lead to success. “Knowing specifically what buyers want, savvy
leaders can build and deliver the precise solutions to meet customers’
needs.” They also offer their products
at the right locations, at the right price, and with the appropriate
warranties. They deliver the right
features and support to create positive buying experiences.
Getting to know your customers is essential to any sales
strategy, so how to know your customer better?
Gather demographic information. You can acquire the information through a
service or a compilation of your demographic statistics from your website,
social media endeavors, etc.
Use surveys to acquire customer feedback about your product
or service. They're good to use before you have sold it to the customer and
after you close the sale.
Engage in focus groups.
Such groups can be ideal for testing new products or potential
strategies. They also allow you to hear
real-time feedback. “Many companies have
used focus groups to road-test successful products. They can now be carried out on line as well
as in person by making use of video technologies like Skype.”
Try blogging. The
comments you receive on your blog posts can tell you a lot about your
customers. You will get to know their likes, dislikes, and opinions.
Another idea: You can hire a market research company if you
have the funds, but don’t have the time. If you don’t want them to do
customized research for you, many market research firms also offer reports for
free or a cost on their websites.
Try social networking.
Your social networks are a great place to learn about your
customers. You can learn a lot from their social profiles, interactions
with your company, as well as demographic information which is available
through features such as Facebook, Twitter and LinkedIn. Your social
networks are also a terrific place to poll your audience and ask the questions
you need answered.
“Track Customer Compliments and Complaints. No
matter where you received them from (email, website, social networks, comment
cards) – it would be a best practice to start an Excel Chart, or other similar
tracking method, to keep track of the responses. You can then find
patterns, good and bad. This can help you adjust your business as
necessary, to improve on the bad, as well as know what to market about your
business, emphasizing the good.”
Additionally, do your research and most importantly, listen
to your customers. Ask them the
pertinent questions that can help you better understand their wants and needs.
Here are some articles you may want to check out about
getting to know your customers better:
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