Really Getting to Know Your Customers: Targeting Your Best Customers to Attract Your Best Prospects!

Selling Happiness is Easy
When You Know All The Things
 That Make Your Customers Happy

The oldest idea in advertising is: When your trying to sell something, you aren't selling that product, you are selling the happiness that product engenders. 


For decades, marketers have used the RFM (Recency, Frequency, Monetary) analysis as the standard to determine their most valuable customers. However, many marketers fail to consider RFM in their prospecting campaigns. Sure, you don't have exact figures on specific people, but you do have information on your current clients. The best of which, are undoubtedly similar to the ones you want to attract. What makes the RFM data unique is the lack of speculation - there are no survey opinions or general sales ideologies. RFM data is based on actual transactions. Proof of who buys what, when, and how often. So if you know who your best customers are, find out who they REALLY are!

Go out of your way to learn how your best customers operate
in their daily lives, then you'll understand
how the customers you want to attract live as well

RFM is a great predictor of your customer retention and sales, but it doesn't tell you the key ingredient for bringing in new customers; the reason why these particular people are buying your product. Not YOUR reason for why, but THEIR reason. Even in modern times many marketers still forget to consider consumer psychology in their prospect marketing strategy. This is most surprising since we are ALL consumers everyday. Even if your job is to design advertisements, companies are still advertising to you!

We are all different and unique in subtle ways,
but overall, many of us are pretty similar!

Everyone makes purchases for different reasons. Figure out who your best customers are and why they buy your product. Once you determine who these current customers are, I'd bet you there are more people like them out there and they are either unaware of your product, or simply have not tried it yet. Expand your customer base within a demographic with which you are already having success and your R.O.I will jump with an influx of consistent, high density purchasers. 

Why would you pay $300,000 for this Aston Martin Virage
when many $40,000 cars have almost the same features?
Because driving a Virage isn't about function,
it's about lifestyle!

You know who your best customers are and what they buy. And if you don't, then you are in trouble! To maximize your marketing strategy you need the whole picture. Who are your best customers and what do they do, independent of whatever capacity they use your product or service? The value your customer receives from your product or service is the image you want to create. You must paint your product's valuable contribution to your customer's happiness on the canvass that is their lives. Then, sell your product's role in your current customer's lives to people with similar lifestyles. The more complete your understanding of your best customers, the more likely you are to attract people like them and increase the R.O.I for your advertising campaign.

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By: Will Pearlman