What is targeted marketing – the definition of target marketing is a specific group of customers at which a company aims its products or services. Your target customers are those who are more likely to buy from you.
If you are aware of it are you using it in your business in order to gain repeat business and referrals?
If you have been in business for a while you will, hopefully, be aware that it is much more expensive to keep looking for new customers rather than looking after your existing customer base to gain repeat business and referrals.
Of course all your customers are important to the success of your business, but your top customers are even more important.
It is essential for your business that you split your customers into three categories:
- Your Top VIPs – who buy your product/service on a regular basis and refer you to others
- Occasional Customers – who buy your product/service every once in a while
- One-Off Customers – who have bought from you once but are unlikely to buy again
It is important to not simply identify your three different customer groups, but to ensure you keep in contact with your VIP customers on a regular basis, at the very least.
Do you keep track of when a current VIP last purchased/used your product/service? Do you call or send a note/gift of appreciation for a referral or invite them to see your newest products? Do you make sure that your top VIPs get special invitations for key events?
Remember that a customer who spends £1,500 per year deserves more of your attention and an even better service from you than one who spends £50 per year. Having said that, it is important to ensure that your Customer Service is exemplary for all your customers, but the personal service given to your VIPs should be elevated to an even higher level.
So the big question is are your very important customers getting enough of your attention and in their eyes do they feel like your VIPs?
One of the keys to any business is maintaining a database of customers and using it to build healthy relationships. Is your current database geared towards your most important customers and if not why not? Your VIPs are the treasure chest of your business. Make sure you look after them – don’t take them for granted or they will go elsewhere!
When was the last time you contacted your VIPs? Do you have an annual VIP event such as a cheese and wine evening to encourage the people who know your business well and like your product or service to refer you to other people? If you are not looking after your VIPs this is something that you need to put at the top of your to-d0-list quickly.
If you aren’t giving your VIPs the attention you know you should take action now to ensure that they remain your biggest fans.
What are your biggest difficulties on keeping on target with your VIPs? I’d welcome any comments on this subject.
Until next time,