CUSTOMERS

Have you ever been given a present that you didn’t really like?

Chances are, that the person who gave it to you, didn’t know you very well. They chose something they thought you would like, from their own perspective, without bothering to find out if you would actually enjoy it. The result, is that you don’t like the gift and when you receive it, feel a bit disappointed. The person who bought it, wasted their money…..

Any business, regardless of what they sell, will only be successful if it makes a profit by selling its products or services. To get a sale, you need a happy customer, who loves what they see so much, that they are willing to part with their hard earned money.

Sounds simple. Just make a great product and people will love it…..

Well you may have guessed, it’s a little more complicated than that. Are you offering your products to the right people? Are you offering the ‘best’ product in your opinion, or in your customer’s opinion? Is the product perfect, but you’re pricing it too high? Maybe too low for your market? What about the social media pages you have picked. Are they the right ones for your customer? ….. There are many questions and options, when thinking about the relationship between your customers and products.

Just like the person who gave you an unwanted gift, if you don’t know what your customers like, want or need, then you’ll waste your time and money, offering something they don’t want. You might even try to sell to the wrong people because you have made assumptions that aren’t right. Ultimately, your customers will be disappointed, never wanting your items.

The key to a successful business is simple, but hard to achieve. It’s not about selling vast quantities, or even the most luxurious items. The secret is putting the

RIGHT PRODUCT, in front of the RIGHT PEOPLE, in the RIGHT PLACE, at the RIGHT TIME and at the RIGHT PRICE

Customer Profiling, or Market Research and Segmentation, is such a vital part of building your product line, brand or business, but is so often overlooked or not done thoroughly enough to be effective.

Companies underestimate just how effective it can be and how much power it has over the success of your business. Your customer profile document is one of the most important documents you will ever have and should help you make every important decision for your business. It will help you to know how to improve customer satisfaction, improve your marketing strategy, where to base your marketing, how to promote, what pricing structure to use, and even the styles and design you should focus on, among other things. The profile basically gives you an analysis of who your customer is and what they like, helping you to improve your conversion rate and give your customers with what they need, want or desire, which also increases sales of your high end products because of the value you provide.

They focus on the human behaviour and attitudes of your particular customer, targeting information on what they like, dislike, where and how they shop. When you understand your customer so well, they’ll feel like friends and you’ll give them the presents that they love.

Ultimately, Customer Profile research has one job and that is to find out WHAT IS the RIGHT PRODUCT. WHO ARE the RIGHT PEOPLE. And WHAT is RIGHT PLACE, RIGHT TIME and RIGHT PRICE.

To achieve your ultimate goal, there are two items of research that you want to undertake. The first is pretty obvious. This is your Customer Profile, which researches your Customers, their behaviour, needs, wants and spending habits. The second part is to consider the products and services that your competitors offer. Essentially, to look at where your brand sits in comparison to others in your field, helping you to offer more appropriate goods and services to your customers. This is called Benchmarking.

T’s & C’s

• Customer profiles work better with governmental / industry data and reports. These are available from government websites at a cost. Reports are charged on top of the fees above, but we will never obtain these for you without notification, including price and your written consent. Although they improve the accuracy of the report considerably, they are not essential to the profile and it will always be the customer’s choice to include them or not.
• Benchmarking works better with industry data and reports. It may take up to 6 weeks to complete if research data is needed from overseas and sent physically. This is not that common, but is possible. We will inform you if there is any delay whilst waiting for data
• Consultations are an initial first stage. We may need to contact you for clarification during this time on any points we research for your Plan
• All meetings, emails and documents you send us are confidential to each person and nothing is discussed with any third party, for any reason, unless you give us instructions to do so.
• Consultations can be a single meeting or as needed via Skype. Please book your appointment via the Appointments Calendar.
• Sessions must be kept strictly to 1 hour since our calendar get’s very full.  You can book consecutive sessions and there are no restrictions on the number, or frequency of sessions.
• The Customer Profile / Competitors will be discussed during the Consultation session. Since ideas and needs can change or adapt during a conversation, we like to make sure that you actually need the service first.
• For a Benchmarking Competitive Analysis report, it is essential to have already done your customer profile and business model for benchmarking to be possible to research.
• All payments for online Consultation sessions must be completed when booking the time slot otherwise the session is cancelled. They can be changed, as long as you notify us via email at least 48 hours in advance. Please bear in mind the time difference between yourself and Hong Kong. You can find our contact form HERE.
• All payments for the Plan part of the service, must be paid before work is carried out.