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Title: Find the Goldmine Within Your Business
Author: Joy Gendusa
Article:
Doing a current customer breakdown can help you find the
goldmine within your business by determining who you should be
targeting in your marketing efforts in the future. There is a
goldmine right there and you may or may not see it…it's your
customer base! But is it all of them? No – definitely not. Then
what the heck am I talking about?
You probably already have some great customers, probably not as
many as you would like though. So how do you go about finding
more of the kind of customers that make opening your doors
worthwhile every day? The first step is to find out everything
you can about the customers that you do have. Here's how to
start:
1. Get Accurate Sales Numbers - How do you determine what a
"good customer" is? More than likely it is a loyal customer who
keeps coming back to spend money with your business. This is why
the first step you take should be to determine how many sales
each customer has and what total income each customer has
provided you.
2. Decide What You Consider "Good" - Is your product or service
a one shot deal? Or can your customers come back again and
again? If they can come back, you'll want to find out their
average order or purchase size in a dollar amount and also how
many times they've purchased... You'll see that they'll fall
into categories. Maybe 10% are big spenders but 30% purchase
consistently. Obviously this will vary depending on what type of
business you have. If you sell a product or service where it is
unlikely your customer will need you again, figure out what
range of purchase size makes up most of your income. It really
varies from business to business. For instance, if you're a
Realtor you may sell many more homes between 100 and 200
thousand, but most of your actual income came from one giant
purchase... Maybe a 2 million dollar home... You don't want to
ignore your bread and butter. In this case, I would recommend
marketing to the "bread and butter" public. So you see, you
really need to evaluate your industry.
3. Once you've determined which are the best customers (the kind
you'd like all the others to emulate) and have gotten all
information concerning their purchasing habits with you: Find
out how they found you, where they live, what they do for a
living and even what their level of income is (if it can be
tactfully worked into the conversation). It's good to get this
information when the customers are making their purchase because
they will be more likely to give it to you. If you keep customer
phone numbers you could even do a short survey by phone to find
out most of this info.
4. Look for Patterns - When you gather all of the information
you may notice that 35% of your best customers are doctors, or
50% of them come from one area of the city. Whatever the pattern
is that you notice, take advantage of it. Do specific mailings
to a list that fits the same description as your best customers
and you will attract more of them. A list company can find you a
list that best fits so that you are mailing to those companies
or individuals that are most likely to purchase.
Follow these steps and you will be able to increase you Return
On Investment (ROI) from all of your marketing programs. And
remember, Return On Investment is how much income you are
generating from the leads you get in from your direct mail
marketing campaign. Marketing your business will help it grow,
marketing your business to the right people can get your
business booming. So, tap into your goldmine!
About the author:
Joy Gendusa founded PostcardMania in 1998, her only assets a
computer and a phone. By 2004 the company did close to $9
million in sales and employed over 60 people. She attributes her
explosive growth to her ability to choose incredible staff and
her innate marketing savvy. Now she's sharing her marketing
secrets with others. For more free marketing advice, visit her
website at www.postcardmania.com
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