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Finding your best customers
The number of customers that your business will satisfy drives every aspect of your business plan. Customers determine your level of sales and profits; the number of people you will need to hire; where your business will be located; how much financing you will require; and how long you will be in business. Therefore it is imperative that your market research and analysis clearly identifies your ideal customers. Readers of your business plan will want to know: Who are your customers? Where are they located? How many of them are there? What are their unique characteristics? What do they buy from your business? In an ideal world you would personally describe every customer, and create a marketing plan tailored to each individual's needs. However, unless your target market extremely small, you will need to think of your customers as larger groups sharing similar characteristics. For an ongoing business, with an established customer base, satisfying and retaining customers is the key to success. By selling your existing customers as many products and services as possible, you will increase their loyalty to your business, build long-term rewarding relationships, and close out the competition.
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