Posted on Thursday, February 12, 2015 in Business
How To Identify Your Ideal Customer So That You Don’t Waste Time on People Who Won’t Buy
It may seem obvious, but identifying your ideal customer it is a critical factor in ensuring that you are investing your time and effort in the right way, rather than wasting time and money on pointless activity.
There are several factors to consider in this area.
a. To what organizations can you add value with the products and services you offer?
b. Which organizations that fall into category a. can afford the products and services that you offer
c. How well established are your competitors in the organizations that you have identified in category b.
d. Who, specifically, is the person who controls the purse-strings in the organizations you have identified in category c.
In order to drill down to this level of detail you will need to carry out a fairly high degree of research. This is time spent thinking, talking and analysing rather than time spent getting out there and selling. But it is time well spent; because it will save you from two of the primary scourges of successful selling:
- wasting time and money on people who have no need of your service
- suffering the consistent rejection from people who have no need of your service
You need to look at your product or service in some detail; was it designed for a specific client and, if so, what other companies, be they collaborators or competitors, might also benefit from it.
Think outside the box….just because you are a provider to a specific industry, does that preclude your offering being of value elsewhere?
Think laterally; the suppliers and customers of your customers, their competitors. If there are natural customers for your products and services but these natural customers can’t afford to pay a realistic price, are there charities or government agencies that would pay the money even though they aren’t end beneficiary?
The aim of marketing is to know and understand the customer so well that the product or service fits him or her and sells itself.