customer profiling: why is it important?
TRANSCRIPT
Why is it important?
Who is yourideal customer?If you don’t build customer profiles, your strategy will be hit and miss and you won’t be getting a strong return on investment for your marketing efforts. You'll also be giving your competition a real competitive edge, because this is what savvy companies are doing.
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Knowing yourcustomer
BASIC
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Age: 28
Gender: F
Contact: 02 4558 4787
Purchasing History: Skinny Latte
Incomes: $100,000
Professions:Business Analyst
Education:Bachelor Degree in Business
Marital Status: Married
Number of children: One
Interest:Coffee, Fitness, Healthy Food
Deliver the precisesolutions to meet your customers’ needs
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Knowing a customer in this depth allows you to deliver the precise solutions to meet your customers’ needs. It enables you to offer products at the right locations, at the right price, and deliver the right features and support to create positive buying experiences.
Aim forexceptionalcustomerexperiencesResearch your customers and find out as much about them as possible. What problems and desires led them to consider your product? Why did they choose your product over your competitors?
Use whatever communication types you can – interviews, surveys, chatting at events or in their workplace.
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Segment your findingsYou may find that there are a number of different types of customer and you’ll need to segment your findings. Don’t just rely on direct feedback; take note of the language they use, their mannerisms etc.
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Benchmark
Your cafeServes in 3 minsServes in 5 mins
Other cafe
Now, do some research around your competitors and determine the edge you have over them and their edge over you. Are you better? Faster? Cheaper?
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COMPLETE YOUR “CUSTOMER”ASSESSEMENT IN MINUTES!
HOW MUCH DO YOUKNOW ABOUT YOURCUSTOMERS?
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The next evolution in business assessment tools. Offering an end to end view, this tool will shape your business for success.
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Create a storyabout this person
Morning exercise
Afternoon meeting Datenight
Give them a name and anecdotal details about what their day looks like. Imagining them as a person makes it easier when you’re creating content because you know who you are creating it for.
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Average lifetime valueof each customerFor example, if you run a café the average customer isn’t simply a $3 cup of coffee. If that customer likes your coffee and buys it on their way to work every day, they could be worth $1,500 or more. This will help you decide how much you can spend to acquire a new customer.
$3 $1,500
Equipping yourbusiness to succeedNow you’re ready for the next steps. Create some messages that address customer concerns and are motivational. If you’re not the cheapest service in town but you’re certainly the fastest, and your customer segment values delivery speed above price, that’s what you’re going to promote.
Take into account the spend required to acquire a customer and get the desired profit.
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Best way to deliver your messagesDeciding the best way to deliver your messages is a combination of budget, communicating the right message and reaching your target audience, given what you know about their daily habits and where they spend their time.
Measure yourmarketing resultsIt’s essential to measure your marketing results. Accurately track spend and measure where new business comes from. Take the costs and divide this by the amount of new customers - this is your cost per acquisition.
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Successfulmarketing campaignIf your coffee tastes better than the competition, consider this. If it costs you $100 to put coffee samples onto the street and five new regulars come into the café, it has cost you $20 to acquire each new customer.
If this number is below your average lifetime customer value then you’ve run a successful marketing campaign. If not, try and gather feedback and refine your efforts.
COMPLETE YOUR BUSINESSHEALTH CHECK IN MINUTES!
MOVE YOURBUSINESS FORWARD
www.businesspropel.com.au
The next evolution in business assessment tools. Offering an end to end view, this tool will shape your business for success.
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