who is my customer
DESCRIPTION
Target marketing presentation for Seedspot clients, presented in 2012. Helps startups focus on where to invest their time and energy. Exercises help early stage entrepreneurs think about the marketing strategies and sales strategies. Goal, find the buyer! Nothing happens until something is sold.TRANSCRIPT
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WHO IS
MY
CUSTOMER?
SE
ED
SP
OT
OC
TO
BE
R 2
9, 2
01
2
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ASSUMPTIONS
• Business is transactional• There is no business until something
is sold• Your buyer is your customer• Marketing is used to find your
customers
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MARKETING TODAY
Building relationships
Listening to the buyer
Joining the conversation
Influencing decisions
Managing your reputation
Being in the game
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TO EFFECTIVELY MARKET YOU NEED TO KNOW WHO IS YOUR CUSTOMER
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TYPE OF CUSTOMER – NATURE OF SELLING
B2C B2B
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MAP TO YOUR CUSTOMER
Influencers
Channels to Customer
Direct Customer
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CHARACTERISTICS OF YOUR CUSTOMER
Demographics
Psychographics
Associations Influencers
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DEFINING CHARACTERISTICS
DEMOGRAPHICS Demographic segmentation
consists of dividing the market into groups based on variables such as age, gender, family size, income, occupation, education, religion, race and nationality.
Most available information about your potential customer is demographic.
PSYCHOGRAPHICS The science of using psychology
and demographics to better understand consumers.
Psychographic segmentation: consumer are divided according to their lifestyle, personality, values and social class.
ASSOCIATIONS An organization of people with a
common purpose and having formal structure.
INFLUENCERS The capacity or power of persons or
things to be a compelling force or produce effects on the actions, behaviors, opinions of others.
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DEFINE YOUR CUSTOMER - EXERCISE #1Demographics Psychographic
s(Behavior / Socio)
Associations Influencers
B2C• Age• Gender• Race / Ethnicity• Geography• Education• Occupation• Employment
Status• Religion• Household
Income• Family Size• Marital StatusB2B• Industry • Public / Private /
Gov’t • Revenues • Employees• Title
• Personality• Values• Attitudes• Interests• Lifestyles• Needs• Activities• Social Profile• Passions
• Professional• Personal• Social Graph• Groups• Affiliations• Community
• Final Decision Maker
• Inner Circle• Owns Your
Customer Relationship
• Media / Marketing
• Social Contacts• “Like” Brands• Competitors
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YOUR CUSTOMER DEFINITION (EXAMPLE)
1. Business
2. Decision Maker – Technology / Ops
3. Competitive
4. Smart
5. Highly complex
6. Lots and lots of data - disparate
7. Technically adept
8. Lack of information on what data tells them
9. Unable to manage costs or data / lack of control
10. Desire to be heroic, make a footprint, have a legacy
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CUSTOMER MARKETING LIFECYCLE
•Negotiate•Close
•Buy•Implement•Service•Create Loyalty•Retain
•Qualify•Communicate
•Share
•Identify Target•Identify Need
REACH ENGAGE
INFLUENCENURTURE
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REACHING YOUR TARGETS
LISTS AND LEADS
• Direct Marketing
• Advertising
• Sales: Telesales, Direct Sales
PARTNERS AND CHANNELS
• Distributors
• Buying Groups
POS:
• Retail
• Onsite
ONLINE
• Website
• Advertising
• Social Media
ASSOCIATIONS
• Networking
• Events
• Groups
INFLUENCERS
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FINDING YOUR CUSTOMERS – EXERCISE #2LISTS AND LEADS PARTNERS AND CHANNELS
ONLINE ASSOCIATIONS
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ENGAGING YOUR CUSTOMERS
START THE CONVERSATION…
• What is the need?
• Is it a problem or opportunity to change /improve?
• What is the cause of the problem or creating the opportunity?
• How long has it been a problem or desire?
• How much is it costing to go without?
• What are you doing about it?
• Is there urgency to buy now?
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THREE DISTINCT TARGET GROUPS – EXERCISE #3
TARGET NEED COST RELIEF
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RELATING TO CUSTOMERS - DRIVERS
Need
Feature
Benefit
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INFLUENCERS – EXERCISE #4Key Influencers Passions Where Are They? How They Influence
Your Buyers
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NURTURING YOUR CUSTOMER
Buy Follow Conversation Raving Fan
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LOYALTY LADDER: CREATING RAVING FANS
Objective: Move customers up the loyalty ladder to create Raving Fans
Wants to growrelationship
Endorses product
Resists competitors’
blandishments
Willing to pay premiums
Seeks to collaborate
on new productdevelopment
May investIn you
Commodity buyers
Most Valuable Customers
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LEADS AND BUYERS ARE AN ASSET
Customer Relationship Management
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COST TO ACQUIRE A CUSTOMER
• Know What You are Willing to Spend
• Set a Budget
• Define Your Marketing Mix
• Measure Results of Acquisition
• Measure Customer Profitability
• Use Customer Intelligence - DATA
• Focus on Profitable Customer Relationships
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START MARKETING NOW…
1. Build relationships
2. Listen to the buyer
3. Join the conversation
4. Influence decisions
5. Manage your reputation
6. Be in the game
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WHERE TO MARKET – EXERCISE #5
Build Listen Join Influence Manage Be in the game
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Q & A