Episode 3: Why Knowing Your Customer Is Extremely Important
Customers are in high demand in almost every business. If that weren't true, advertising agencies and big marketing firms wouldn't need to exist. These groups exist to not only speak to your customer, but help define them as well. Which brings us to you.
Do you know exactly who your customer is?
Can you picture them? Can you describe them well? What do they like and not like? How do they act? What kinds of things are they into? Where do they live?
Some of you will have a wide customer base; your product or service can be for almost anyone and everyone. But for even more of you (especially these days), you'll find you have a much clearer defined niche. And believe me, that niche can be a moving target at times.
Knowing your customer is extremely important, and let me explain why.
My restaurant (Donny), Picasso's The Art of Food, has a relatively distinct customer base. We can appeal to many, but we are after the same person that will have no problem paying $3.50 for a small cup of coffee at Starbucks. We use expensive ingredients, and we don't allow what I call "picnic food" on our menu. We have decided we want to be great at the few things we do, than be good at many things.
Those decisions have defined us since day one, and they are always in clear view when making any decisions about the business.
So how does that help you define who your customer is?
Simply put, you need to decide on boundaries, whether clearly defined or fluid, and all based on your customer (which may or may not be in line with your personal taste!)
Who are you? What specific characteristics define your product or service? What are you all about? What are you NOT all about?
Picasso's has a great customer base and it continues to grow because we know exactly who our customer is and what they need. And we deliver excellent products and services that delight them.
If your product doesn't have a customer or you are losing customers, it's time to do some analysis and determine why.
You could survey what you believe to be your base and find out why they aren't your customer and perhaps retool. Price accordingly, change your product or service to meet their "actual" needs. In some cases, you may just be shooting at the wrong crowd.
Whatever the case, this process is extremely important and definitely ongoing. Let us know if you would like to discuss this at length, we'd love to help you talk this out. Just shoot us a message!
SHOW NOTES: episode three sos003
Who your audience is.
Overthink who your customer is
Not everyone is your customer
Wasted time educating your non-customer
Your product will speak and appeal to “your customer”
Know who you are
Stay true to who you are
Don’t confuse your customer/don’t try to please everyone
Answer the questions that define your niche
High cost, low cost, service, value, etc.
Set expectations, and meet them
Questions to ask yourself:
Where are you going to offer your product/service
How do I reach them, and attract them to me
Do I know and can I define my demographic
Can you picture your customer
Is there an evolution to defining your business and your customer
Am I using these to define my customer
What is my product, location, type of service etc.
Will the audience help define you