Increase Sales By Investing the Time to Define Your Ideal Customer or Customers
So you want to increase sales? That begins within your market research specific to your ideal customer. This ideal customer profile would identify the two demographics and psychographics in great detail because it has been said "The devil is in the details."
Demographics are defined as the statistical characteristics of a population according to Merriam Webster online dictionary. When applied to the desired customer profile, these characteristics may include:
- Role Industry
- Size of business in revenue
- Number of employees
- Geographic location
- Years established in business
Sales Training Coaching Tip: The demographics are all external factors.
Now psychographics are the "whys" behind the decision making process allowing you as the salesperson to increase sales. Why will this ideal customer take action? The whys are more unique than the demographics and are much more related to this one word – Value. How do you as a salesperson sell value?
By answering this question allows you to truly complete the ideal customer profile. Sales Training Coaching Tip: The psychographics are all internal factors.
For example, here are some psychographics:
- Status and recognition (which is a measurable talent)
- Fulfilling a personal goal or dream
- Saving the company money
- Forward thinker
By combing the demographics and psychographics, you are creating the desired client profile. Depending upon your product or services, you may have several ideal customer profiles. Sales Training Coaching Tip: Do not confuse the psychographics with the needs. Needs are the pressing problems (some obvious and some not so obvious) that may enhance the whys behind the decision making process.
My practice is essentially rooted in closing the individual and organizational performance gaps between where people or organizations are and where they want to be. Therefore my desired corporate customer is:
- Forward thinking decision maker who is tired of the "status quo" including facing repetitive problems
- $ 5 to $ 50 million in revenue
- At least 20 employees
- Industry manufacturing, health care, education or logistics
- Wants sustainable change with high impact
Additionally I have a small business best customer description for my executive coaching clients and one for my youth leadership, Rising Stars. By having a clearly defined ideal customer which includes a very detailed profile, I can quickly focus on those who meet those qualifications instead of playing Captain Wing. Sales Coaching Tip: This profile also helps you answer the question of "What do you do?"
To increase sales does begin with having the clearly articulated ideal customer profile and then sharing it with others. When you invest the time to construct this document from your overall strategic business growth action plan, then you will find it far easier to increase sales.