How to find more of the quality customers you have? Made Easy
You have people in your life that are very important to you. People you will do everything for. Friends and loved ones will love to help and attend to whenever and wherever they call you or need your presence.
Some people love to call you. Seek help from you when they are in trouble. Friends and loved ones who will anything to make it up to you. Think and believe you will love to also be there for these people when they call to you.
Whether you are seen as a value to or you see others as valuable, we have to maintain and find more kinds of these people to be around with all the time. Let’s look at this from the business side as far as we have customers or people we do business and trade with.
We will look at how to get more good, quality, and high-value customers and clients to help you stay on top of the market. Customers who amount to the largest percentage of our sales chart. Let’s dive in now.
Customer’s Segmentation
You probably join a group at school, work, church, in your community, even on Facebook, WhatsApp, or places you mostly find yourself and spend memorable and quality time with the people and things you love. But let’s focus our attention on the customers or clients who buy from you. But before, let us ask ourselves some simple questions first. When was the last time you visited your favorite restaurant? When was the last time you called your lawyer, doctor, videographer, and your writer? When was the last you went shopping (whether online or offline)? Now let’s ask ourselves these questions with regards to our business.
Do you know the faces of your customers, when was the last time you saw that customers who always spend more than $200 anytime they walk into your shop or business? Do you remember that customer or client who always wants the best quality products and lets to pay less for them? Another thing you also noticed is that clients who all the time complains and also like to pay more for your services? As an entrepreneur and a business owner, you need to know all these customers and clients. You need to know their names, where they stay, what their profession is, how they are likely to spend (people like to be consistent with what they buy, eat, wear, and more.) this is the meaning of Customer Segmentation and Analysis.
To break this down, there are some faces you see a lot and others that you don’t see often. There are some accounts numbers you mostly see and others you don’t normally see. Isn’t it wise and good to group these little bits of data and analysis them to clearly understand why they are so?
Whether you like it or not, you have Low-Value Customers (LVC), Medium Valued Customers (MVC), and High-Value Customers (HVC). Some customers will be at the edges too and we will call them none valued customers or clients.
Why group customers
Why should we group, divide, nest our customers? Look around you, there are different kinds of things you see, for example, when you walk to a car dealer’s shop. You see all types, brands, or cars. You also see large, small, medium-size cars too. And one thing that will be obvious, expensive and cheap cars. Ask yourself why do they have expensive and less expensive cars? Why can’t they make all the prices the same and sell them to everyone who needs a car? That can never be possible because of the status quo. Something that we as humans have created for ourselves to make us feel better, important, and valuable.
So, we need to do the same as manufacturers do. We can archive this in one best way, by making different price ranges of products and services. Less expensive (low quality, small quantity), expensive (more in quantity, quality service) by doing this and keep and collecting an eagle eye data, we can see, identify all types of customers, clients, and different types of people that we deal with in our business.
Why
Sales are the oxygen of every successful business. And marketing and advertising are the fuel and blood that drive it. If you know we have a high number of low-valued customers, we will know how to market better effectively. We have what to write as our headline because we know to the bone the kind of people we want to reach with our campaign and content. If you have a high number of high valued customers, we then look for more people like them and multiple that number.
In my next article, we will take a deep dive into Customer Segmentation and the benchmarks that we can use to categorize our customers.
See you at the next one.
