You need to pinpoint exactly:
Despite having clear definitions, some questions still remain.
By reading this article you will be able to answer those critical questions and succeed in building your customer analysis marketing plan.
You’ll be significantly better positioned to successfully market your product to your targeted customer with a well-written customer analysis marketing plan. Here are 3 main steps you can follow.
In both B2C and B2B sales and marketing, you need to know exactly who your product is meant for.
You need to know everything about your target market.
Useful data and demographics for your customer analysis marketing plan may include:
Your marketing plan must include data regarding your target market’s income level. This is one of the most effective ways to implement market segmentation. There will be customers and clients that can afford the high-end products and services. However, there will also be other consumers who are only able to stretch to the lower versions of those products and services at a much affordable price. You must be able to satisfy the needs and wants of every market segment.
You also need to consider the age range of your target market. This will ensure that you create products and services that fit their needs. Younger generations may have different tastes and preferences in comparison to more mature customers. This is one of the reasons why you need to consider age range in your customer analysis.
In writing your customer marketing plan, it is important that you include the lifestyle of your potential customers and clients. You must know whether these people prefer simple products that are affordable, or whether they prefer paying additional premium for luxurious items. You also need to learn about their preferred product brands as part of your customer profiling.
You need to learn where your target market is located. You need to assess whether the type of product or service you are offering is readily available in their community. You need to know where they are currently buying similar products and services. The convenience of the location of a store has a strong effect in the buying behavior of a consumer. Having data about geographic location can help enormously in establishing an effective customer profile.
Before launching marketing campaigns for your business, you need to know first if it is worthwhile to do so. Assess the number of potential customers for your products and services and see what you could potentially gain from the campaign. The revenue generated from marketing campaigns must be always larger than the cost of running it.
You also need to conduct situation analysis for your current customer base. You need to assess whether your market share is growing or diminishing. Understand the reasons behind such movement in the size of your market share. This will greatly help in crafting the best marketing strategy for your business.
Understand the buyer’s behavior with the use of data regarding his or her past and present purchases. You will know what products they buy and the exact volume of the purchase. This will help you create a customer loyalty program for repeat customers to boost your sales.
B2B | B2C |
Revenue Number of employees Decision-makers’ position in the organization Geographical location Scope: how many potential customers Growing/shrinking customer base Past behavior, e.g. purchase history Stated projection of future needs | Income Age range Lifestyle Geographical location Scope: how many potential customers Growing/shrinking customer base Past behavior, e.g. purchase history Future needs/wants |
The above information should help you determine your customer’s exact needs. State it precisely in your customer analysis marketing plan.
You may want to know how they are affected by a combination of these factors:
Price of ProductIt’s time to show how your solution fits the customer’s needs. If you don’t know this yourself, you won’t be able to convince the customer!
Look at your position:
You must clearly draw the line between your customer’s needs and your solution, keeping in mind their decision drivers. Finally, turn your results into a precisely and completely stated value proposition in your customer analysis marketing plan.
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Use Executive Education To Perfect Your Customer Analysis Marketing Plan Writing Skills
Today’s constantly changing business landscape means that you need to be more precise and sharp than ever to create a great customer analysis marketing plan. A good strategic marketing course from one of the top international business schoolscan offer the skills, knowledge and strategic thinking you need.
You’ll also hone more general management, business, marketing and leadership skills so you’re action-ready for all your marketing and branding challenges, including the development of a fully on-target customer analysis marketing plan.
Today’s constantly changing business landscape means that you need to be more precise and sharp than ever to create a great customer analysis marketing plan. New tools such as social media and advanced IT databases will help you gather needed in-depth data – if you access them. A good strategic marketing course from one of the top international business schools can offer the skills, knowledge and strategic thinking you need.
You’ll also hone more general management, business, marketing and leadership skills so you’re action-ready for all your marketing and branding challenges, including the development of a fully on-target customer analysis marketing plan.
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