Your typical customer needs what you sell, and your ideal customer wants what you sell. Semantics? No, in this case the difference is actually quite pronounced. People may or may not purchase what they need, but people always purchase what they want. The later are your ideal customers, and once you discover how to find them and look after their needs your business can reach fantastic new heights.
What you need to know
Potential customers make their purchase decisions based on emotions, and wants are emotion based. Needs are logical in nature. When your products or services touch your customers in an emotional way than these people become your ideal customers.
Why you need to know this
Your ideal customer gives you the best returns. For most small business owners 80% of your revenue is created by just 20% of your customers. These are your ideal customers. They adore your company. They are loyal, and they only purchase from you. They boast about you to their friends and acquaintances. They send you new business, and spread the good word about your company.
The expense if you fail to act…
Consider this, 20% of your present customers are delivering 80% of your revenues. Imagine a scenario where you could replace some of the 80% of low yield customers with more of your ideal customers, the ones that make up the high yield 20%? It’s possible that your revenue could increase by a multiple of 16!
This means that if your revenues are currently $100,000 you have the potential to increase this to $1,600,000. Unbelievable but true!
- What could you do with this much added revenue?
- What could you do with this personally?
- How would it affect your business?
- How would it affect your family?
- Can you afford to let this amount of potential revenue slip away?
It’s up to you to learn these critical new skills.
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