Today, I’m here for one purpose:
To help you put more money in your pocket!
Can I get a “Hell Yeah” ?
Let me ask you a question before I start.
Are you being very specific when you ask for referrals? Or are you using the words “anybody, somebody or everybody”? By using one of these three words, you’re essentially telling your potential referrers that you don’t know who you want to do business with! You’re subconsciously telling them to make the decision for you. Remember anyone, someone and everyone = no one!
You may be thinking, “I know I need to be more specific, BUUUUUT right now I need more “anybody” customers because more customers will bring in more business and more business means more dollars”.
Well, I’m going to suggest if you want more money in your pocket, then it’s essential that you replace the thought “I need more ‘anybody customers’” with “My business only attracts perfect customers.”
Who is a perfect customer?
By my definition, a perfect customer is one whose needs and wants perfectly fit in with your product or service. That is, your service or product is the answer to your customer’s prayers. When the relationship between a need and service is perfectly aligned, positive results (i.e. sales and profits) occur with amazing velocity and synergy.
Take a moment and picture one of your best customers … the one you’ve enjoyed working with the most.
Why would this person be a perfect customer?
- What characteristics, core values, and perspectives does she have? Are they similar to yours?
- Does your perfect customer make you feel respected?
- Does your perfect customer appreciate your efforts and happily pays you?
- Does this customer refer others to you?
Now, let me ask you this question:
How many of your current customers are a perfect fit for your business?
Write down your best guesstimate.
If that number is less than 100 percent, are you willing to think outside of the box for the next few minutes … so you can generate more money for your bank account?
Consider this “radical” thought:
You can have a more profitable business when it consists completely of those customers who are perfectly aligned with you.
Because you’ve created stronger relationships with those customers which result in greater loyalty. A long held business adage says 20 percent of our customers account for 80 percent of our profits.
Bain & Company, a well known management consulting firm, conducted a study that showed when customer maintenance rates increased by just 5 percent, a company can boost profits by 25 to 95 percent!
With these facts in mind, another question needs to be asked.
Why are only 20 percent of a company’s customers considered to be the best? If these 20 percent account for 80 percent or more of profits, why does the company need the other 80 percent?
In other words, some customers are more equal than others. Thus, it would behoove a business to focus its resources on its best customers rather than on the 80 percent who are “fair-weather” types. When you pay attention to your top 20%’ers (and they’re probably pretty close to who your WHO is), it will result in more business and more money in the bank.
Now we are back at the beginning – the necessity of having very specific referral requests. And better yet, you now understand why it’s important to know who your perfect customer is.
Here are some tips for discovering who your perfect customer is:
- Find a quiet space and have 30 minutes to perform this exercise.
- Bring to mind the one customer you’ve most enjoyed.
- Remember what she looks like, what is he wearing, what’s her facial expression.
- Next consider all your interactions you’ve had, what did you like most about serving this customer. How did this customer treat you?
Based on your answers, how would you describe this customer?
- What are the person’s positive qualities, attributes and characteristics?
- What are the person’s talents?
- What are the demographics?
Here are some examples:
- Refers other people to you
- Has a smile for you
- He enjoys paying you for your service/product
Now you’re ready to create your perfect customer profile:
- name your perfect customer
- find a picture of what she would look like
- define his career, business and other demographics
- list out her qualities and characteristics
Finally, prepare your marketing minute “ask” (your elevator speech CTA) with your perfect customer in mind. For example:
I am looking for a 40 year old vivacious business woman who wants to …
Of course this is a first iteration of an ongoing process. To refine your perfect customer profile, go through this process frequently until you feel you’ve truly identified who he or she is.
Before you know it, your perfect customer percentage will be increasing as well as your business profits.
And more profits means more money goes into your pocket!
How cool is that?