Marketing expert, Kim Walsh Phillips says that business owners should stop saying “people aren’t buying”. People are buying, the challenge is that many business owners are not selling to the right customer. In order to make a sale you have to sell the RIGHT product, to the RIGHT customer, at the RIGHT TIME, with the RIGHT OFFER.
Small business owners often fall into the trap of thinking that any sale is a good sale. However, a sale made to the wrong customer can end up costing your business much more than the revenue it generates. That is why it’s essential to identify the right customer and tailor your marketing and sales strategies to reach them. In this blog post, we’ll explore the reasons why it’s crucial to sell to the right customer and how you can go about doing it.
People are buying but you have to sell to the right customer
It’s a common misconception that getting someone to buy your product or service is the end goal of any marketing or sales campaign. However, the real end goal should be to sell to the right customer, someone who is interested in your product and is willing to pay your prices. Selling to the wrong customer can lead to dissatisfaction, complaints, and bad reviews, ultimately damaging your brand reputation.
What is your offer to this customer?
Before you can identify the right customer, you need to define your unique selling proposition (USP). What is it about your product or service that makes it stand out from your competitors? Once you have identified your USP, you can target customers who are most likely to appreciate it. For example, if you are offering eco-friendly products, you will want to target customers who are environmentally conscious.
What is the customer’s pain point?
To sell to the right customer, you need to understand their pain points or challenges. What problems are they facing that your product or service can solve? By understanding your customer’s pain points, you can tailor your marketing and sales approach to address their needs effectively. For example, if you are selling a weight loss program, you will want to target customers who are struggling with their weight and need a solution.
Disney sells premium tickets and people wait in line
If you’re still not convinced about the importance of selling to the right customer, take a look at how Disney operates. They have high-priced tickets, yet people are willing to wait in long lines to visit their parks. This success is due to Disney’s targeted marketing approach, which focuses on delivering exceptional experiences to customers who are willing to pay more for that value. So, don’t be afraid to target specific customer segments with premium offers if your USP and pain points align with their needs.
How to identify the right customer
Now that you understand why selling to the right customer is crucial let’s discuss how to identify them. Here are a few steps to follow:
- Create customer personas that represent your ideal customer based on their demographics, needs, and interests.
- Use data analytics to identify the most profitable customer segments, including those with high lifetime value (LTV) and low churn rates.
- Conduct market research to understand your customer’s pain points and evaluate how well your product or service can solve their problems.
- Test your marketing and sales campaigns with different customer segments and adjust your approach based on the results.
Selling to the right customer might seem challenging, but it is essential for the long-term success of your small business. By targeting the right customer, you can maximize your marketing and sales efforts, deliver exceptional value, and build a loyal customer base that will help grow your business sustainably. Remember, it’s not about making any sale, but about making the right sale to the right customer.