..the cornerstone of every business.
“we use the shotgun approach to marketing;
aim for as many people as we can, and hope we hit a few in passing”
Where do we start with this one. Do you know even how much your customers are buying from you, or should be buying from you, or could be buying from you? We see this problem more than anything else, and the reason we see this problem is that everyone we meet thinks they know their customers – really know their customers, and they don’t.
The problem is that few businesses really put a premium on knowing their customers intimately, and instead become, perhaps a little complacent about them. After all, if we lose one, we just find another one. Advertising, sales, these are expensive costs for a business, and if your business is renowned for churning your customers, then you will much higher than average marketing costs.
But that’s not even the biggest problem. No, the biggest problem is that if you don’t know who your customers are, it is unlikely you will really know where to look to find the next one. Back to the shotgun approach, more cost, less effective.
Time to get to know your customers.
It’s vital that you know who your real customers are and understand what they value about your business.
You also need to have the right strategies and tools to act upon this knowledge. It could be a new customer acquisition plan, a retention program or a cross sell opportunity. We will help you find the facts about your customers, often already held within your own business systems. Getting the focus right will have the highest impact to help grow your business.
We believe in focusing on what customers value about your business, not just about their levels of satisfaction or the quality of your products and services. This gives a robust measure of whether customers believe they are getting value for the price they are paying. By knowing how to use customer data to create superior customer value can improve business results and realise sustained profitable growth.
Our customer value models and insights programs will help you create real, sustainable competitive advantage for your business.
Benefits of a part time Marketing Director to a CEO or MD
Most businesses believe beyond a doubt that they have their customer understanding licked. We certainly meet some customer-centric businesses, businesses that really know their customers with real clarity. These are companies that put the customer at the centre of the business, and focus process and procedure around them. If you ask our cousins at the CFO Centre, they will tell you that these are quite often the most profitable businesses.
All of our Marketing Directors have the use of our IP process for Customer Identification. We see Customer Knowledge as very important to the growth of the business – central in fact, and we have very specialised IP to help our clients discover their clients and customers.
The process is extensive; it is highly interactive, in that we work in a workshop with our clients for half a day, before going away and continuing the work on our own. We continue to work through the process until we are satisfied we have built a comprehensive customer profile, and then we present the findings back again. Once this is in place, we have the foundation for everything else; where we fit, how they respond, where we find more of them, what they watch, read, and so on. It all lends itself to building a comprehensive marketing plan.
Such is the importance of this process, that it is one of the few direct implementations we run ourselves. Generally, as Marketing Directors we operate at a strategic rather than an execution level, but in this instance our Principals are very hands on.