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Your Diamond Mine: The Lifetime Value of Your Customers
Copyright 2005 Kinesis, Inc.
In the early 1900s, Reverend Russell Conwell - founder of Temple
University - gave a popular speech called "Acres of Diamonds."
In it, he said:
"Your diamonds are not in far distant mountains or in...
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Customer service is not just an abstract concept that business professionals like to throw at you. It is a tried and true way for you to keep your customers returning. If you follow these 6 general rules, you can significantly improve customer...
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Who Are Your "Most Likely" Customers And What Do You Know About Them?
You'll notice I've used the words "most likely" in the
above question. Why didn't I just ask who are your customers?
That would have been too easy. Effective research is all
about asking the right questions. If I'd just asked who's
your customer, you might have been tempted to answer
"Well, I suppose everyone who pays me is a customer."
Yes you're right, but I already knew the answer to that.
When you think about it, a "good business consultant" is not
one who has all the right answers. I believe it's the
opposite. A "good business consultant" is the one who knows
all the right questions to ask.
>From experience I've found that if you ask the right
questions, the answers will eventually become obvious.
I've also discovered that many owners of small businesses
know the right answers, it's just that they've never asked
themselves the right questions.
That's why I reworded the question to ask -who are your
"most likely" customers? To answer that accurately you
will have to really think about it. When you do, you'll
soon conclude that your "most likely" customers are
different from "Joe Public" (the general population).
How then are your "most likely" customers different from
the
general population?
The main reason is that no two businesses are exactly the
same, so each business has the potential to attract
different people. Your product or service may have specific
features or customer benefits. There could be a difference
in pricing, the level of service you offer, quality
standards, presentation, distribution, brand image,
guarantees etc.
With this in mind it is fair to assume that your
"most likely" customers, are different from the general
population. Your customers may be different from the
customers that your competitors have.
If you can identify how they are different, then it will
be much easier (and more cost efficient), to reach them.
You'll be able to target these prospects in a way that
makes them "sit up and listen."
If you can find out what makes your customers different
from the rest, then you'll save yourself a lot of money
and effort chasing after the wrong people.
About the Author
Noel Peebles
noel@marketleadersltd.com
The Quick And Easy Ways To Get Better Results
From Your Advertising...Increase Your Sales
At Higher Profit Margins Than You've Ever Done
Before. FREE newsletter. FREE ebook.
http://www.betterbizprofits.com
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