The first step is to identify your ideal customer and their buying triggers. Conduct market research (surveys, focus groups and online research) to answer these questions:
- Income level. Will you target people with high, low or average income?
- Geographic location. Where are your best customers located?
- Industry. If you’re selling to businesses, identify any industries that are best suited to your offering.
- Stage of life. Is your best customer young, middle-aged or a senior? You can appeal to their needs by better understanding their stage of life. Banks, for example, will send a very different message regarding investment products to seniors than they send to recent university graduates.
- Relationship status. People who are single, partnered, widowed or divorced will have certain needs that are different from others.
Knowing who your ‘best bet’ customer is will help you to tailor your marketing efforts and see a greater return on your marketing investment.
Understand why customers buy from you
You also need to understand precisely why customers buy your product. The benefits of your business must be made clear in your marketing, so decide if it:
- Saves time?
- Saves money?
- Enhances attractiveness?
- Promotes wealth?
- Offers a unique experience?
- Satisfies ego?
Study your market both formally and informally. If you have existing customers, your accounting software can help you identify buying trends. Online survey tools can help you to ask questions. Of course, talking to your customers face-to-face can give you a great sense of who they are, what they want and what they think of you.