July 17, 2024

Understanding Your Customer

Good Morning,
A friend of mine is thinking about and doing the research to go into his third business. Right now he is running two businesses and is retired! As he was explaining the business to me, I could not understand who would use his services. I might use it once a year at most, but he needed people to use it all the time. So I asked, Who is your customer base? He said that was part of his research. Good answer!
We talked some more and I suggested and then loaned him a book to read, “The Top 10 Distinctions Between Millionaires and The Middle Class,” by Keith Cameron Smith, Ballantine Books. This book was recommended to me by well-known motivational speaker Lee Milteer, and it opened my eyes to the differences between the poor or lower class, the middle class and millionaires or upper class.
It brought home what my business coaches had said, “You are not your customers.” I could see the differences even in people I know and associate with!
My friend saw it in the people who would uses his services and the book was very helpful to him. The book is written as mainly a wealth and personal fulfillment book for people who want to improve their financial position. But I found that it’s a great book on marketing because it explains the mindset of these three classes of people.
Once you know what makes your customers tick, you can effectively market to them and outsell your competition.
Till next time.