Know Your Best Customer
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Why you need specific information to know your best customer, what information to gather and easy ways to round it up.
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Know Your Best Customer
- 1. Know Your Best Customer Bonnie Harris Wax Marketing, Inc.
- 2. Bonnie Harris Founded Wax in 2002 Provide IMC for medium size companies Professor, WVU Reed College of Media WaxMarketing.com
- 3. Agenda Why the customer matters Customer definition Customer behavior KPI’s Tools for learning Using the information
- 4. Why it matters more today Audience Messaging Channels Competition Technology Owned Media
- 5. Who is your best customer? 80/20 rule Personas Influencers
- 6. Audience Definition Demographics Psychographics Content acquisition behavior Buying behavior Other segmentation strategies Geodemographic Ethnic Relationship Adopter
- 7. Understanding behavior Problem or opportunity Information search Choice evaluation Buying behavior & action Decision and repeat buy
- 8. Know Your KPI’s Highest total buys Longest relationship Highest rate of repeat buy Highest rate of repeat buy in last 6 or 12 months Response to traditional marketing Response to WOM Purchases of top $$ products or services Who do I love doing business with and why??
- 9. Great but how do I figure this out?
- 10. A lot of it’s already in here.
- 11. How did you hear about us?
- 12. Tools for learning about customers Cultivate your email list Send surveys Create rewards programs Google Analytics Alexa Track owned media Use landing pages Host events Incentivize influencers Meet face to face Ask questions
- 13. Find the common factors Advertising is cheaper. Public relations is easier. Email and direct marketing has higher ROI. Content marketing and social media are focused. You make more money.
- 14. Once you know them you can find more of them
- 15. And you’ll know how to talk to them too.
- 16. Channels Messaging Influencing behavior Driving traffic Creating conversions
- 17. Thank You! Bonnie Harris 612-801-0912 waxmarketing@gmail.com Blog.waxmarketing.com Linkedin.com/in/waxmarketing Facebook.com/waxmarketing @waxgirl333 practice
Editor's Notes
- Small, medium and startups pay attention to the message “if we build it” and not so much to the customer Sometimes that’s because the information isn’t easy to obtain, but more often it’s because people feel they’re small and so they “don’t want to miss any one” in other words, they don’t want to lose buyers when $$ is so critical to gain tracition. The idea of focusing on a narrow customer is frightening. What if there’s a big group you’re msising? I’m here because I would argue that at this stage of the game knowing your customer is even more improtant. Your resources are smaller, and you aren’t as well known. Cutting through the clutter straight to your target market is even MORE important now
- Ask – who has retail? Online? B2B? B2C? Startups? 1-10 employees? 10 or more employees? Anybody here from a big company? What’s your job? I need to know my customer if I’m going to give this presentation right? This applies to all of you. If there’s a specific question based on your business, ask away. Describe owned media – brand journalism, website, social media, content marketing creates a huge glut of information, making even more clutter If you try to reach everyone, you have to go everywhere and that results in a bland, ineffective message
- Worst 20 % of customers if you don’t know make some guesses , you can always choose a few segments and see who comes out the best Derms across the river - donations – millennials it was the moms Will show you how to measure this at the end Who is the most famous persona of all? Don’t test your message against yourself or your family Influencers – 85% of small business comes via word of mouth according to a recent Verizon study. I would argue that the influencers in your genre might not be your best customers. But they ought to be your best friends. Who is a major influencer for your business? Advertising lori and julia those people malcom gladwell “connectors” When I started my business I got in with the advertising agencies Mrs. Minnesota
- Prior to big data, we used demo and psycho . I would argue that demo don’t even matter anymore Before you can really know your best customer, you’ve got to understand how they buy. Every single buyer, whether B2C or B2B follows this protocol. You need to understand what your best customer does in each of these situations. For buying behavior give the form example Finally decision – car dealers are most active here. Repeat buy is where you see a lot of loyalty programs Most people try to understand behavior and aaction. (talk about conversions, etc) Content marketing brings us closer to being a player during the information searhc But knowing your best customer puts you in the forefront at the problem stage because you understand their mission, their values, etc. Subaru
- Make a list of your customers that you love. Then identify their KPI’s. If you don’t have the exact information. Then guess.
- This should be emblazoned on your mind. And you should find a way to collect the information. Put it in a notes thingy on your phone. Have the receptionist put hash tag marks next to a list on the phone. However you do it, you have to have this information. Dermatology Consutlants challenging demographic baby boomers and younger women in their 30’s and 40’s
- Put a little plan together and have your assistant do it. Pull information out on a monthly or even a quarterly basis.
- Put a little plan together and have your assistant do it. Pull information out on a monthly or even a quarterly basis.
- what .
- You won’t be wasting your time or your money. Sometimes the worst result is an event with too many people just standing around. .
- . How do we measure linked tactics? What would that look like?