Do you have a clear understanding of whom your customer is? The following 10 questions will help you understand what makes your customer tick and help identify opportunities to capitalise.
1. Who are they?
As a B2B business, it is important that you undertake some background work; make sure you know the sector of your customer, annual turnover and what type of business they are – for example, are they a sole trader or limited company? Privately owned start-up or multinational? Knowing the answers to these questions will help you identify other customers to work with.
2. What do they do?
Understanding the product or services that your customer provides will help you spot opportunities to upsell or cross-sell. By demonstrating that you are invested in helping them deliver their goals, will make your services integral to their growth strategy.
3. Why do they buy?
It’s not always about price – perhaps your delivery service meets the customer’s requirements, or it could be your green credentials that appeal to them. Recognise this, build on it and never fail to deliver in this area.
4. When do they buy?
By identifying customers’ buying patterns, you can increase your chances of
Keep on the right side of legislation by undertaking an audit of your customer database. It may be that you only speak to a customer once a year and things can change. An annual audit of telephone numbers, email addresses, and key personnel in the business will prevent you from being out in the cold.
6. How do they buy?
Consider how your customers make their purchases. How they get in touch is more than likely how they wish to be communicated with. Whilst some prefer an automated purchase through the website, others may like a face to face service.
7. How much money they have?
You’ll be more successful if you can match what you are offering with your customer’s budget. Don’t make an approach with your premium product if the customer has a more modest turnover.
8. Are they financially stable?
Do they have enough finances available to take on your services or product? A simple credit check will save a lot of wasted effort and ensure invoices get paid.
9. What do they think about you?
Identify problems before they arise by talking to your customers. Make sure you know what they like about your service and what doesn’t work for them. They’ll appreciate the proactive approach and it helps you resolve issues earlier and avoid losing customers.
10. Who are their competitors?
Sell to others that have the same needs by knowing who your customer’s competitors are. They are more than likely to have a requirement for your product and services and your experience within their sector will appeal (as long as you haven’t signed an exclusivity agreement).
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