Know your Customers

By Contributing Writer

In a city like Las Vegas where construction is happening in every corner of the valley, you cannot help but have some basic knowledge about building. For example, before you can build up, you have to dig down. A firm foundation is required for anything to last and before you build, you must have a plan. In business, the construction principles of building a home, a hotel, church, or corporate office requires a plan, firm foundation, digging, and depth. Today’s consumers are ever changing and knowing who they are is key to survival and success. Frequently, entrepreneurs think and say everyone is a customer and on the surface, it sounds great; even ambitious. When digging into a business plan, soon one finds out that knowing your target market is a must. But why? Until money grows on trees, every business owner will have a limited marketing budget to invest and word of mouth can only go so far.

How to identify your customer, which is also known as your target customer?

Here are 4 quick ways:

1) Demographics

2) Whose already buying

3) Look at Competition Customers

4) Psychographics Demographics

• Knowing who exactly is most likely going to buy your product or service

• Age Range, Location, Gender, Income Level, Education Level, Marital/Family Status, Occupation, Ethnic Background

Who’s Already Buying?

Go with who is already going with you! Learn from your existing customers and find similar characteristics, interests and habits. Find out who buys easiest and most often. Doing small things like this can reap big dividends if capitalized on.

Looking at your competition

Are you going after the same customers? There may be room for you to target a niche customer that your competition can be overlooking and ignoring.

Psychographics

To know the customers better, dig deeper. Get more personal and your reward will be much greater. Determine how your product or service will fit into the target’s life and how do they consume information and media such as: T.V., Social Media, listen to radio in the car, Hulu or Netflix, newspaper or magazines, Pandora or Iheart music, just to name a few.

Customer Values

  •  Lifestyle
  •  Hobbies
  •  Attitudes
  •  Interests
  •  Personality
  •  Behaviors

Knowing is half the battle and applying it is the biggest part. When aiming for customers, knowing who and where the target is, will set you on the path to a lot of success and cash registers ringing!

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