In a recent article we talked about the importance of targeting the right market for your business. Equally important is targeting the right customer.
SCORE spoke with business consultant Paul C. Bellows, CEO of Be Good at Doing Good, about this subject. Hereβs what we learned.
There are βrightβ customers and there are βwrongβ customers for every business.
The right customers share your core values. They appreciate the value you deliver and are happy to pay you for it. They spend more money, more often and they are loyal. They will not leave you because your competitor has a lower price.
The right customers become part of your sales force and refer a significant amount of other right customers for you. The right customers are fun to work with. They energize you and make you passionate about what you do. That passion and energy is infectious.
It has a positive effect on your staff and your other clients too.
Conversely, the wrong customers do not share your core values. They waste your time and your resources and are usually most concerned about getting the best deal for them.
They do not care if you stay in business, and they are not loyal to you. They tend to refer more wrong customers to you and are emotionally draining.
Working with the wrong customers causes you to question why you do what you do. You lose your passion and that negative energy infects your staff and your other clients too.
As you build your marketing plan, be sure you can describe your βrightβ customer. Know exactly how to target the right customers and attract more of them to your business.
The faster you can do that, the more successful you will be.
For more perspectives from Bellows, visit www.paulcbellows.com.
