PART FIVE: UNDERSTANDING YOUR CUSTOMER
The reason this is titled, "Your Customer" and not, "Your Customers", is because it's helpful to think of your customer base as one main single personality that can breifly describe at least 90% of your customers.
Let's take a men's shoe store for example, it might look something like this.
Our primary customer is 28-50 male father / husband. He's a blue-collar man who likes to work with his hands and prefers practicality over glamour. He might spend his Sunday's in jean shorts, grilling some steaks for the big game.
The idea is to gain an image of the person you are selling to. This way you can predict certain behaviors and attributes unique to your customer base.
Here are a few pointers:
- Spending trends
- Average order value
- Rate of return
- Word of mouth/ social media factor