How to Bring in The Business in 2013, Pt. 2 of 5

One of the most asked questions I get is, “How do I get new customers.” I will answer this question as we explore part two of this five part series on bringing in business in 2013.

To begin let’s define exactly what we are talking about. When we say the word “customer” we are generally speaking of someone willing to exchange money for the products and services you provide. But not all customers are created equal.

For example, a realtor might only sell a customer once or twice in their lifetime. A beauty shop operator might see a customer weekly or monthly. You must define your ideal customer before you can even think about marketing or advertising methods to reach them.

How Are Customers Created?

There are only two ways to get customers that I’m aware of. One, steal them from your competitor, or two, create a brand new customer who didn’t exist before. For example, your son or daughter turns 16. They can now drive and are a carwash customer, tire customer, mechanic customer, and fuzzy dice hanging from the mirror customer.

There are many unhappy customers out there looking for better products, more value and better service. Offer them an alternative and you’ve stolen a customer from your competitor.

Valid and Invalid Customers

Customer definition goes way beyond money. A shoe shopper that wears a size 13 like I do will not buy a size 10 no matter how good a deal it is. Even though I have the money to make the purchase I am an invalid customer unless they have the shoes I want in my size.

I’m 6’4” and my wife is 5’2”. There are Big Men’s shops and Petite Shops in most big city malls. This is a perfect example of specializing to a specific market. People are more than willing to pay a little more for style in hard to find sizes. So my wife and I would be ideal valid customers for these two types of stores.

Where Do You Make Your Money

What are the top five most profitable products or services you offer your customers? Can you match your best products to your ideal customer? These are the customers you need to build your profit base. Those people that will do business with you on a regular basis will keep your doors open and pay the bills. If you can do that profitably then there is no reason why your business would ever fail.

Some Final Thoughts

Defining your customer is the most critical cog in this successful business wheel. There is no way you can create a marketing or advertising campaign to be all things to all people. Not everyone is your customer, and any money used to contact invalid customers is simply a waste of your resources. Define your ideal customer and how to reach them profitably. Offer good products, show customer value to the right people and watch your bottom line quickly turn from red to black.

If you missed Part One, Click the Link Below:

How to Bring in the Business in 2013, Part 1 of 5