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 $$ products or
services
Who do I love doing business with and why??
12. Tools for learning about customers
Cultivate your email list
Send surveys
Create rewards programs
Google Analytics
Alexa
Track owned media
Use landing pages
Host events
Incentivize influencers
Meet face to face
Ask questions
13. Find the common factors
Advertising is cheaper.
Public relations is easier.
Email and direct marketing has higher ROI.
Content marketing and social media are focused.
You make more money.
14.
Once you know them you can
find more of them
Small, medium and startups pay attention to the message “if we build it” and not so much to the customer
Sometimes that’s because the information isn’t easy to obtain, but more often it’s because people feel they’re small and so they “don’t want to miss any one” in other words, they don’t want to lose buyers when $$ 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.
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How do we measure linked tactics? What would that look like?