We all need profitable customers, but you have to speak to their needs. Much less, how do you even find them? Today’s guest is John Dwyer, an Australian marketing genius, sales professional and entrepreneur. He will teach us some simple concepts on how to get those profitable customers that no one would want to get rid of so you can increase your sales game.
John is the Founder of the Institute of Wow, where he helps show businesses and people how they can market themselves on creating wealth based outside of price.
Here are the highlights of my conversation with John:
Why many companies neglect identifying an ideal customer:
- Ignorance and laziness
- Failure to collect any data – 95% of business (online and offline) collect no data
- Making a motherhood statement (that everybody needs what you have)
Case Study: Marketing strategies John did for an Australian bank:
- Part of the bank’s marketing strategy was to give a free holiday to customers who get their home loans. They tripled their home loans in the first three months.
- They got Jerry Seinfeld to do an ad for it. (Find out why they exactly chose Jerry Seinfeld for their campaign.)
Strategies for hyper focusing on your ideal customers:
- Identify your most profitable customers by collecting data.
Figure out who is spending more. Categorize your customers into ABCD segments based on their spending trends. The statistics will tell it all.
- Make sure you get that data in the appropriate places.
Focus your complimentary offers on your most profitable customers. If you’re new in the company, do a research on your company’s sales trends. Get it from your office or your boss. Otherwise, wing it for 2-3 months and once you have data, that’s going to set you on the right path.
- Make sure the right message is going to the right market.
John’s Major Takeaway:
Dig into your data since the statistics will tell it all. Message the market match.
Get in touch with John on www.theinstituteofwow.com and download a whole bunch of their free reports.
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