In today’s world, there are many types of businesses. At the end of the day, the customers will be the ones that determine whether a business will experience growth or remain stagnant. Therefore, your company needs to have regular customers. Those regular customers can influence other consumers to buy your products, and your company could grow in the blink of an eye. There are two types of customers: Actual and potential customers. First, let’s look at the differences between them.
What are actual and potential customers?
The difference between the actual and the potential customer is very simple. The potential customers are interested in the product or have the potential to purchase it, and they even have an influence on the people who are the actual customers. They are also called prospective buyers. On the other hand, the actual customers purchase your goods or services. Like the potential customers, there is a chance for them to continue buying the products.
What are the types of potential customers?
Even though loyal customers can be considered the best, the companies need to look after the prospective customers more because they have the potential to be loyal customers in the future too. To achieve this, they need to evaluate the types of customers and act accordingly to win their trust. There are many different potential customer types, but we will look at some of the main types. Along with the types of customers, we will look at their characteristics and how to manage them.
1. Potential customers: They are prone to asking many questions and want a satisfactory answer. Therefore, the business owner needs to be responsive and give the answer that the customer needs to hear. A positive approach can be helpful.
2. New customers: As the name suggests, they are the customers who’ve made a recent purchase. They are crucial in marketing because they can be converted into loyal customers in the future. To do that, the companies need to provide good customer service and be attentive to their needs and expectations. It is especially valuable to provide a warranty too. If they create a healthy, trustworthy relationship with the customers, it is likely for them to become loyal customers.
3. Need-based Customers: That kind of customer usually focuses on their needs and would only purchase products essential to them. In this case, if they cannot find what they need, they can easily look for it somewhere else. To approach this kind of customer, the workers need to avoid excessive marketing and offering other items for them to buy because they would only be focused on their needs, and that can create an unpleasant environment for them.
4. Discount Customers: To these customers, purchasing an item at a discount is very important to them. They can look for many other places to find a discount, so your goods and their quality don’t really matter. They usually just search for the best deal.
5. Impulsive Customers: Even though they do not have something special in their minds, these kinds of customers could buy your products anyway. They can follow what the worker suggests and can be led to purchase almost any product.
6. Loyal Customers: They can be considered the “regulars.” They usually promote the brand in their environment and stand by whatever happens. They also have an influence on potential customers.
How do you identify potential customers?
Identifying your potential customers is crucial for the business to grow. We can think of this as the more customers, the more sales, and therefore more profits. The real question here is how we can identify these potential customers. There are steps to do which will answer this question. First, segment your potential customers. You can do that by separating your customers’ demographics, such as age, gender, education, income level, religion, and so on. You can also look at the region. We can understand many things by looking at the potential customer’s location because an area’s climate and rural-urban areas could differ, so the needs would also differ. Lastly, we can look at the customers’ behavior. For example, how often they buy from you, what amount they buy, and why they buy. However, you are not alone in the industry. There are many other competitors, and you can understand the customers’ behavior and needs by examining your competitors’ customers. Lastly, we cannot underestimate the importance of strong branding, and you also need to shape your advertisement according to the customer’s profile.
Why are potential customers important?
Potential customers mean future loyal customers. To gain their loyalty, the brand has a lot of jobs to do. But it is worth the effort as it can boost your company’s sales consistently. The customers are the core of this marketing system. Think of the famous saying: “no pain, no gain”; in our case, no buyers, no gain. To accomplish this, you need to know your audience very well and create effective advertisements. Look at the location, age, gender, needs, and preferences and do some clever marketing. A sportswear ad on the subway for young people, for instance.
How do you increase potential customers?
Every business wants new customers. To attain this, let’s talk about some of the tips. You can send referral promotions to your clients. Once you sell your product, it shouldn’t end there; Do some follow-up activities and send emails to check in. Get your marketing department to communicate with the customers; don’t just end the interaction. The network is also crucial. In the 21st century, people highly rely on reviews, and you can have a good or bad reputation online because the internet can reach millions of people all around the world. As we mentioned, in the 21st century, you should place great importance on your website, whether it has up-to-date SEO, an appealing design, and graphics. Other than these, discounts can be beneficial for the companies. People like paying less even if they are not satisfied with the purchase. They can try it again for less money.
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