Choose Your Customer Wisely

In business we are always looking for new customers.

Sometimes they find us without any assistance. However we are mostly going out and looking for them by means of advertising, networking, encouraging existing customers to recommend them or PR work.

We are of course more likely to be successful if we attract the right type of customer. We should plan our campaigns to find customers that will be spending money with us on a regular basis and are in the proper demographic groups that we require. So we should be targeting interests, income, home ownership, age, sex and so on that match our specific product or services.

Think about this and see if you are choosing your customer wisely. Imagine you are selling a product that is most likely bought by middle income families. Now it may be that some poorer income families will stretch themselves financially and buy it. However how much would it cost you in time and effort to find those few families? It would be far better to seek out those that fall into your demographic band. The same might be said for the very wealthy who can afford your product but are more likely to buy a more expensive option.

You need to make your time and every penny of your budget work efficiently. Choosing the wrong customer can be expensive. Analyse your product and market carefully and your current customers to see where you should be concentrating your efforts to choose your customer wisely.

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Roland Millward
The Entrepreneur Club

Image: Tina Phillips / FreeDigitalPhotos.net

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