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How knowing your customer can help you to find new business

One inexpensive thing that successful companies of any size can do to boost business is to understand their customers better. If you know where your business comes from and why people choose to do business with you then it is easier - and less costly - to find new, similar business.

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One inexpensive thing that successful companies of any size can do to boost business is to understand their customers better. If you know where your business comes from and why people choose to do business with you then it is easier - and less costly - to find new, similar business. Attracting new business can be difficult; you may already have this insight, but not realised the value of tapping into it and using it fully to your advantage. In order to ‘know your customer' you need to understand: Who they are Where they are Why they chose to do business with you How they originally found out about you. Do you know who your customers are? Are they businesses or individuals? What age are they? Are they married with children or single? Are they a one-off customer or likely to do repeat business with you? With these answers, you can ensure your communications reach them with the right message at the right time. For example, if you do business with professional men aged 30 upwards, holding a Golf Day at your local club might be good for business. Invite your best clients to play and as you entertain them they can also act as advocates for your business. Where do you find your new customers? Find out what your customers enjoy. Do they like sport or supporting local causes? Are your customers local or nationwide? If nationwide, you could use a good AdWords strategy to target them. If local, sponsoring a local charity can promote your business and support a good local cause at the same time. If you know why your customers do business with you, you can find other customers with the same needs. Maybe it's your high levels of customer service, your client care, your excellent product or service. You can use this knowledge and use it to communicate to potential new customers because others will want the same. Can you learn how your best customers originally found your business? Was it networking, advocacy, via the web, an advert or did they see your product or work somewhere? Once you have this information you can tap into it and leverage the insight to do more of the same. Maybe participate at local networking events to increase opportunities. The best businesses know their customers and use it to their advantage – you can do the same. It does not have to be expensive. Often, time spent thinking and asking questions will deliver the valuable insight you need. In summary, our top tip to help you grow your business and save money is; understand why people do business with you and who your customers are. With that knowledge you will increase the opportunities to attract potential new customers to your business. About the author This article was contributed by nxo, specialists in strategic marketing communications. If you require help with marketing and sales, call the Forum's member helpline on 0845 130 1722 to find out how we can help.

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