Solution to Markegint Stragety When Not Knowing and Understanding Your Customers

Many businesses spend so much time trying to attract new customers that they forget about the loyal customers who made them successful. Take the time tothink about your customers:

• Who is your typical customer?
• Is your typical customer actually your ideal customer?
• What do your customers value about your business?
• Do you know how to best satisfy the needs of your customers?
• Have you ever asked them if you could be doing more to make them happy?
  

If you have read Solution no. 1 and Developed a Plan then these questions will have been answered already.

Approximately 80% of a Sales and Marketing Budget is spent on reaching / communicating with customers and prospects. Yet, usual y this spend is not analyzed or reviewed for its actual effectiveness. You could be wasting your effort and money by “communicating the wrong message in the wrong medium”.

Solution

Get to know your customers as much as possible. Create a survey for them to fill out. Ask them what radio stations they listen to and what newspapers or magazines they read. You need to construct a profile of your target market before you can reach them effectively.

One of the simplest and most cost effective ways of learning about your customers is to collect information about them. Marketing Principles has Four Simple Ways to do this:

1. USE A DATABASE
A famous Harvard Business study found that it takes six times as much effort to attract a new customer than it does to keep an existing one. Having a well-maintained database wil assist you tremendously in achieving this. Invest in database software that is suitable for your business. Make sure it can integrate with your business framework - for example, with both your retail outlet and your website.

2. INVOLVE YOUR CUSTOMERS
Get permission to communicate with your customers and develop a privacy of information policy. (It is now il egal not to and there are hefty penalties for doing so). Also ask their preferred method of communication, whether by phone, fax, email or face to face.

3. DEVELOP A COMMUNICATION STRATEGY
Treat the information you gather like gold and mine it regularly, to keep in touch with your customers. Are your customers unhappy for some reason? Is your competitor giving them better service or a better product? Maintaining contact will allow you to know the questions to these answers and it wil show each customer that you are interested in keeping their business. Learn what works and continue to improve it.

4. ADD VALUE
Your communications need to add value to your customers and prospects. To make it relevant, provide rewards such as special offers and competitions and you will soon form a relationship with your customers that will lead to loyalty and higher sales.

Solution to Markegint Stragety When Not Knowing and Understanding Your Customers