What you need to do to make your business more profitable?
The answer is simple. You need to satisfy your current buyers in a way that they will continue to do business with you, and generate new fresh potential buyers to ensure your business growth.
Here are 7 basic questions which answers will lead you to the possible strategies that you will need to carry out to reach enough potential buyers.
1. Who is my ideal customer?
Your ideal customers are persons that need your products and services and more likely they are willing to pay for it. You can’t satisfy everybody. But, you can satisfy in your best way your ideal customers.
You don’t want to attract customer who don’t need your products and service and are not willing to pay you for them. Because of that, you need to start with clear definition of your ideal customer. Build their personas based on their needs, problems, values and desires.
2. Where is my customer?
When you know who is your ideal customer you can start analyzing them to discover where are they.
You can’t expect to reach them if you don’t know where are they and ensure your presence there.
3. Why your customer is there?
There are probably reasons why they are there, and you need to know that reasons. Better understanding of these reasons will give you a better basis to prepare yourself to reach them easily.
4. What are they doing there?
Nobody is somewhere without doing something. Your customer has reasons why he is somewhere, and they do something because of that reasons.
As an entrepreneur your job is to map all of their activity. When you have knowledge about what they do there, you can easily develop different approaches to reach them easily.
5. How can I reach my customer?
Now it is time to map all possible ways how you can reach your ideal customer.
Don’t limit yourself only on one way, because there are too many possibilities to reach your ideal customer.
5. Who has my customers?
Some of your ideal customers are your competitor’s buyers. You want them.
You need to understand that all of your ideal customer solve their problems in one or another way.
Good starting point is to find all your competitors that satisfy some of the needs of your ideal customer.
6. Why do my ideal customer buy from my competitor?
Logical next question when you find all possible competitors is to find why your ideal customer trust them and buy from them.
This is important information for you, which will enable you to discover possible ways how you can improve your own offer.
7. What can I do to get my ideal customer from my competitor?
And lastly, you can find all different approaches to reach your ideal customer who is now served by your competitors.