It’s very common for business owners to say “everyone can use us.” In reality, not everyone will use your business. Rather than trying to attract everyone, you need to know how your customers operate so you can serve them. Take the example of T.J. Maxx.
T.J. Maxx knows that they have a very specific audience. Their shoppers are very sensitive to price. They are looking for a steal. More importantly, their customers are “treasure hunters.” Their customers enjoy the search. They enjoy the surprise of finding an item that they really love but weren’t looking for. They also know that there is another type of shopper that wants to come in, find what they want, and leave. T.J. Maxx knows they cannot appeal to both kinds of shoppers. They focus on their core customer.
A current customer is more valuable than a potential customer. You must cater to them to keep them coming back. You must treat a customer as a real;ationship, not a transaction. It costs seven times as much to attract a new customer than it does to attract a new one. Understand your customer and you will grow your business.
To find out how a Modern Observer Group coach/consultant can help you identify your customer’s habits and build a strategy to serve them, schedule a call here.
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