Before you start smirking and thinking that I have gone stupid, give me at least the next three sentences to bend your ear. I am not talking about being mean to one customer and super nice to the other. I am not saying that you should have extreme differences in how you service your customers. Instead you should start treat them how they want to be treated.
…give me at least the next three sentences to bend your ear.
Going Over Market Research
Companies spend large amounts of cash to segment their markets and define who their ideal customers are. When it comes to the execution of their marketing and sales plans all that research gets thrown out the window. Customers that are treated to exactly the same messaging costs companies millions and more in lost sales.
Treating your customers the same can and will result in leaving money on the table.
Still think I am little off?
Run this little exercise. Take a look at your top performing customers. Then look at the other eighty percent that make up the rest of your customer base. Have those customers responded to your latest marketing and sales efforts? Have they made a move in buying just like your top performers? (I will give you a hint: the answer is most likely no.)
Companies spend large amounts of cash to segment their markets… then throw all that out the window when it comes to execution.
Now look at the marketing and sales message that you are currently using. Your top customers are responding to it. The rest of your customer base is not. The messaging you are running with is the same… FOR EVERYBODY! You are losing potential sales and new fans because of it.
Male executives will take a product launched to men and just “make it pink.”
If you still think I am wrong, look at the recent article in the Wall Street Journal, about a Boston Consulting Group survey of 15,000 women and 5,000 men across 22 countries. This survey discovered that male executives make large mistakes by treating their female customers the same as their male customers.
Bartering Prices
One of the most obnoxious points: male executives will take a product launched to men and just “make it pink.” The executives fail to address even the basic needs of this customer segment and treat the female shopper the same as the male shopper. (There are nine other mistakes that are made when marketing to female customers mentioned in the article.)
What can you do to avoid these mistakes and not lose potential sales?
- If you are in marketing, test your message with the different customer segments. Pay attention to what they like and dislike. Be willing to market to them in how they want to be marketed to.
- If you are in sales, use your pre-call planning to make sure you fully understand your customer. Do you know where they come from and how they got where they are today? Can you detail all their biases? Do you know how they make their decisions? Those are just a few questions, but there are many more. If you cannot answer those three… ask your customer to tell you and then listen!
- Speaking of listening… Listen. Listen. Listen. Your customers are telling you how they want to be treated. They tell you in person, in social media, and by where they use their ultimate voice: their currency to purchase from your competitors. If you still cannot figure it out, ask them and listen.
Treating your customers the same can and will result in leaving money on the table. Get to know them, understand them, and treat them they way they want to be treated.
Still think I am nuts? I look forward to your comments!
About the author:
Erroin A. Martin is a Business Advocate with the Von Gehr Consulting Group, LLC, a business coaching and consultancy provider for business owners, executives, and entrepreneurs. He has fifteen years experience working within the pharmaceutical, manufacturing, natural resources, medical devices, software, technology, business services, and agriculture industries in various levels of leadership across six continents. He has led diverse teams in sales, marketing, planning, and in the Army. He currently coaches business leaders and physicians in the tools needed to plan for their success. Learn more about the Von Gehr Consulting Group, LLC at www.vongehrconsulting.com or call +1 203 433 8079. You can follow him on Twitter at @Erroin
The Von Gehr Consulting Group, LLC, was founded by Erroin A. Martin to provide business coaching, business consulting, and other services to companies both large and small. The primary goal is to have his clients be passionate about their business and reach the unachievable.
