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Three keys to amplify your growth through customer profiling
From The Buxton Co Customers are at the core of every decision you make, whether you’re a retailer, restaurant or service provider. Here are the three keys to leveraging customer insights and analytics to create customer profiles and drive your growth. Learn WHO your best customers are Just like you, your customers are unique. They have differing desires and needs, and are looking for very specific solutions to meet their demands. You may have a number of customers who frequent your establishment, but are you consistently reaching those who will drive your long-term growth? Learning who your most profitable and loyal customers are, by creating customer profiles, will help you make better-informed business decisions. To do this, you must look beyond customer demographic data and into customer lifestyle data to generate detailed customer profiles. Customers have come to expect personalization in everything, so why not take the same approach and develop a personalized customer-centric strategy to drive business growth? Identify WHERE your best customers are Not all customers and locations are created equal. To improve and grow, it’s key to know where the highest concentration of your best customers are and how much time they are willing to spend to get to you. A prime location in a high-traffic retail center will only get you so far. Customer profiles will allow you to see where your customers are coming from, the average drive time it takes them to get to your establishment and where they and other similar customers are in relation to proposed new sites for your business. Know the VALUE of reaching your best customers Stop wasting time and energy trying to reach everyone you think may be interested in your business, and start targeting the ones you know will drive your growth. You’ve taken the time to identify who your best customers are and where they are located. Combine this information to understand the true value of your ideal existing and potential customers in terms of dollars or visits. Creating these customer profiles will help you open homerun locations and improve the performance of your existing portfolio of sites.
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