Do you really know your customer?

It is always intriguing to examine how well business owners and salespeople truly understand their customers. Who are these individuals? What are their occupations, their drivers both business and personal, their interests? Understanding these aspects holds the key to unlocking effective marketing strategies.

In his enlightening book, "Tough Selling for Tough Times," Murray Raphel recounts his experience conducting a survey among customers of his own store. Surprisingly, he discovered that a staggering 75% of them listened to a single radio station out of the twelve available in the area. This revelation proved crucial, as it provided a previously elusive clue for choosing the ideal advertising platform.

In a business-to-business scenario, a consulting company heavily advertised in one of four trade journals. However, a survey of their customers revealed that this particular publication ranked the lowest in terms of readership. So, understanding your best customers and pinpointing where they come from, enables better chances of success by targeting similar prospects.

The reality is, few businesses possess the resources necessary to market to every potential customer. Similarly, salespeople lack the time and means to reach out to every conceivable prospect. To maximize efforts, a conscious decision must be made regarding who to ignore and who to focus on. The most effective way to accomplish this is by identifying your ‘ideal customer profile’ (e.g. who are your most profitable and loyal customers or clients) and using them as a guide. Once you’ve identified them, set about getting to know them inside out.

While extensive product knowledge is undoubtedly valuable, it alone won't guarantee success. What truly matters is "people knowledge." Specifically, understanding prospects so profoundly that every interaction with them resonates deeply and strikes a chord. Customers find themselves wondering, "Has this person been hiding under my bed or in my office? They genuinely understand my situation!"

This kind of response is what businesses strive for, and it occurs when there is a genuine understanding of customers. Therefore, investing energy in unraveling the intricate layers of their needs and desires is crucial.