Today, most companies pursue different growth opportunities without identifying their ideal clients. This lack of clarity has seriously affected the profitable growth of these companies. By identifying and understanding your clients, you can easily identify their needs and determine whether your services or products meet their needs.
Research can help you identify the client group that will most likely purchase your service or product—this is what we call the target market. And your target market can be consumers or businesses. When you identify your target market, spending and buying habits, and demographics, you can effectively focus on creating strategies to help you attract more clients and reach the right ones.
So, how can you achieve this? This post will discuss the top solutions to help you identify your clients. Read on for more information.
Analyze your current client base and identify your target market
To begin with, you will need to analyze your current client base and discover the answer to ‘who’ your clients are. Once you have this bit down, the next step is to group them into smaller groups to build a marketing strategy. Finally, focus on taking actions such as customer surveys and Customer Relationship Management tools (CRMs). You should ask yourself different questions like: what do they buy from me? How often do they buy from me?
If something does not make sense about these questions, let’s say; how can you determine that someone buys “too frequently” or “not frequently enough?” Customer relationship management software has been developed to supply companies with various ways to evaluate their relationships with their customers.
The benefit of working with a customer relationship management tool is that you’ll be able to find the right clients quickly and easily. You must know who you’re targeting because they are most likely the exact people who will find your services or products useful and meaningful. So, do some analysis first and then go for customer surveys to get more accurate results about your target market and their needs. Once you have identified your ideal client group, it will be much easier to create marketing strategies that will reach them.
Look through your sales records
Perhaps the simplest way to identify your clients is by looking through your sales history. What kind of products or services have been selling more than others? Now let’s say that you have two similar types of products you sell at different prices; see where most sales are coming from—the answer should give you an indication about who your ideal client is. If it’s not clear, try both options one after one and see which one is selling more. Once you discover the answer, focus on creating offers for this client group.
Conduct interviews with your clients
One of the most effective ways to identify your target market is by conducting interviews with current or past clients. You can ask questions like:
- What were your reasons for choosing our company over a competitor?
- And, if applicable, did you choose us because we offered a certain product feature?
These sorts of questions can help you determine the needs of each type of client. In addition to asking these types of questions, you can also use surveys as a tool to identify who your ideal target market is. There are different survey tools available online that make it easy for anyone to conduct surveys to find the answer to their questions. Besides, this is of high cyber security importance because you can easily identify clients who pose security threats to your business.
Use Google Analytics
This online tracking tool lets you monitor your website traffic and keeps track of the number of visitors on your website where they’re coming from (i.e., what different types of clients access pages). These insights can help you understand which web pages or products your target audience is interested in – this will point you in the right direction about who your ideal client base is. It will also allow you to create more specific marketing strategies.
Check out social media profiles
You can use KYC tools, like the Passbase KYC verification solutions to check the profiles and pages of companies who already serve as great examples for businesses like yours. This can allow you to identify potential clients to target through promotional giveaways or promotions. The best way to do this is by using hashtags on Twitter and Facebook. Many businesses will proclaim their brand’s value proposition through these hashtags, so make sure you observe what others are doing in your industry.
Identify their fears, problems, or needs
To make it easy for you to sell to different clients, take the time to understand who they are and what makes them unique. Find out their fears, concerns, challenges, etc. This will make it easier for you to market your solutions. If you know what type of client is most interested in your services or products, then developing marketing strategies that address their specific wants and needs won’t be difficult at all.
Use social media analytics tools
There are different social media analytics tools available to help you understand which clients are engaging with your business’s social media pages the most often. If your target market is clearly defined, then you can use these types of tools to identify who’s interacting with your brand the most on Facebook, Twitter, and Instagram. If you know what type of client engages with your business more than others, it will be easier for you to make targeted posts that draw more attention to your social media profiles.