APM Business Tips

Helpful Hints & Tips for the Small Business Owner 9

How well do you know your customers?

I regularly meet with small business contacts through various networking channels and continue to be surprised at the sheer number of individuals who don’t seem to know who their customers are.  Clearly they have some knowledge in terms of name and address for invoicing purposes, but quite often it stops there, with no thought given to lifestyle, age, gender, financial situation, to name but a few.

Take some time out to ask yourself these following simple questions and see how much you really know about your customers, you may be surprised:

  • Who are my customers now?
  • How do they differ from my original customer base?
  • How have they changed in that time?
  • Over what period have they changed?
  • What economic factors might have contributed to the change?
  • What factors have I/could I influence moving forward?
  • Are my products/services still on trend?
  • Are my products/services appropriate to my market?
  • What can I do to make myself stand out from my competitors?

The point is this, the more you know about your customers, the better able you will be to meet their needs, and find more customers of the same make up.

I would love to hear your thoughts on this blog post.  Please do get in touch.