Customer is crucial for any business development whether it is a small business or well established business. To market and attract your business potential customers, the first step is to know your customer. Define your customer profile is one of the key steps for your marketing strategies and market implementation.
Market Segmentation Basics
Customer profile needs to understand market segmentation. When you begin to describe the customer profile for a business, it is important to know what market the business is targeting. Market is potentially huge and few companies can target all customers in the market as customers are become more demanding and well informed with the development of technology. The objectives of market segmentation is to groups customers who have the same demands, buying behavior, or some other significant characteristic. Once the market segmentation is defined, business can choose a market that they can better fulfill the demands of the customer in the targeting market.
Market segmentation needs to follow a proper process. When performing a market segmentation, it is important to follow the process: selecting segmentation criteria, segmentation evaluation and segmentation selection. Business needs to first select proper criteria for choosing a target market, after the segments are selected, there need to use proper evaluation methods to evaluate whether the target market is suitable for the business.
Gather Information for Business Customers
After the business has selected its target market, they need to use various methods to gather information about their potential customer profile. The information needs to focus on the following key areas: Customer Demographics, Customer Psycho-graphics, and Customer behavior etc. The information will help the business describe their potential customers.
Customer profile needs to understand the customer needs and purchase process. When gathering information for customers, market researchers need to gather information about the customer needs and purchase process as these information will help business to make important business decision. For example, The customer information needs to answer the following questions: Where do you buy? How do they make buy decision? What are the key features they like or the potential request? etc.