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How many customers does your business have?
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How many are males and how many are females?
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What is the average age of your paying customers?
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What is the occupation of your customers?
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What is the purchasing power of your customers?
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Where do your customers live?
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Where can they readily be found; online or offline?
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Who are your top paying customers?
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How many units per transactions do they purchase?
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What is it about your business that excites your customers?
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Which of your product(s) is most preferred by your customers?
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When are your customers most likely to need/buy what they buy?
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What do your customers think about you?
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What do your customers think about your competitors?
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Which of your customers is more likely to refer someone to your business?
How many of the 15 questions listed above were you able to provide a definite answer to, based on facts and data? Chances are you have no idea on some, if not all of them. If that is the case with your business, you do not know your customers as much as you think you do. Now, that is the worst thing that can ever happen to your business, yes, it’s worse off than selling at a loss.
See why it is not just important, but extremely imperative that you know your customer and knowing them well here.