In ‘Building Your Business – Step 3: Research’ we discussed the importance of conducting research into your client base. This week we’re going to further highlight why this information is so important to your business.
Client insight is invaluable for businesses; it can significantly implicate your marketing and sales methods and ultimately affect your overall performance.
Forbes magazine published an article titled ‘to succeed as an entrepreneur, know your customer’ that explained the level of attention successful entrepreneurs pay to their customer base. The post highlighted client behaviour businesses should research and understand when attempting to market or sell a product. This included client’s:
- Marital status
As you begin to fill in the gaps a clear image of your client begins to unfold, from there you are able to target messages that will appeal to your demographic, you become aware of their buying habits and can take advantage of that information enabling you to answer three KEY questions:
- Who is the client?
- What do they buy?
- Why do they buy it?
Once you’ve created your client profile, tailor your marketing and sales methods to target the best possible audience. Pay attention to their likes and desires, you’ll be able to appeal to clients by including these factors in your advertising.
If you have the opportunity to meet with potential clients in display homes, use that time to ask THEM questions rather than only answering theirs. Understand what they are after in a home, what are their concerns or ‘must-haves’ and address them with a solution. By doing so you are creating a relationship with your client, something they will appreciate and could turn your one-off sale into a loyal customer and proud advocate. Remember, word-of-mouth is more influential and trustworthy than your advertising, if the community is aware you offer a fantastic product and outstanding service that is tailored to individual needs’, you won’t need to compete in a price war with competitors. Don’t follow a ‘one size fits all’ model; instead remember the golden rule of marketing:
‘If your product is for everybody, it’s for nobody.’
At Hotondo Homes we have a clear understanding of our target audience and their demographic; we incorporate this into our strategy and ensure our homes cater to the needs of families across Australia. Our franchisees have access to sales training on a regular basis, which has been crafted by experts with years of experience. Our Franchise Sales Managers work with franchisees as a team and are there to help address any issues that arise, including a lack of leads or sales. We work with franchisees to understand the needs of each individual community from metro Melbourne to rural Queensland and create homes suitable for each region. Franchisees have the ability to accept custom jobs, provide our clients with the ability to modify our designs and ensure they are 100% happy with their home. We believe in flexibility and want to help our client not just build a house, but a home; their home.
If you’d like to learn more about the importance of getting to know your client, tune into our latest podcast episode.