When it comes to increasing your sales, there is a basic principle that you must remember:
Your prospects buy the Benefits to fill specific needs or wants.
Your job as a business owner is to know, understand and deliver the benefits they’re looking for, which will differ depending on the needs of the customers, even for the same product or service. Therefore, it’s critical that you know multiple benefits for each of your products and services. And know exactly what your prospect’s needs and wants are. This is the essence of marketing: to create a match between your buyer’s needs and wants and your lists of benefits.
There are two primary categories of information that will help you with this determination.
The first category is demographics. These are the characteristics that identify the ability, need and interest of a client to purchase your product or service. Demographics define those clients who need what you sell.
The second category is psychographics. These are the factors that identify the motivation or reasons why someone wants to buy your product or service. Psychographics define those clients who want what you sell.
As you identify your prospects’ wants and needs, based upon their demographic and psychographic characteristics, then compare this data with your own wants and needs, you will gain greater insight into your ideal client. And once you accurately target your ideal clients, you’ll spend less time and money to acquire them.
To start, you must research your current clients – the ones you presently deal with day in and day out. Select at least three of your current clients to interview. Perform the demographic research by personally interviewing these clients either on the phone, or in person.
Your Retail Consumers: You must know your consumers; invest some time to understanding your prospects. Find the answers to questions like these:
· Who are your current clients men, mostly women, do they represent a 50/50 mix?
· Is there a certain age or age range that tends to buy from you?
· Are most of your typical clients single or married?
· Do they have high school or college graduate or some where in between?
· Do you know their approximate income level?
· If not, do you know what zip code they live in? (Most zip codes contain homes or apartments that represent specific income ranges.)
Your Business Buyer: If you sell to businesses, interview at least 5-7 typical businesses you sell to. Find out the number of employees they have and their location to learn about their company culture and the number of subordinates you may have to speak with in order to get your sales message to the decision-maker.
When you in other cities, you may require different approaches. For example, you may need to position your product or service differently when selling to a Manhattan based business compared to a Houston based business. In some cases, that difference can be day and night.
Traits and Patterns
When you have completed the interviews, compile all of the information to determine commonalities among your current clients. Collecting this information will help you find the traits they have in common, which will help in future marketing.
Having this demographic information will help you create a picture of your current clients. By identifying this client with demographic information, you can later begin your lead-generation efforts, and create a marketing message that is laser-targeted toward your ideal client. So take your time and be as specific as possible when completing these interviews.
It will pay off when you have a steady stream of ideal clients, increased sales revenues, and more profits.
Remember whether you’re selling to businesses or retail consumers 80% buy with the 5th -12th follow-up.