The most productive means of achieving sustained growth performance is to help your core customers build their business. Who are your core customers? If you don’t know, isn’t time to find out?
The most useful description of “core customers” I’ve seen is Robert Bloom’s (The Inside Advantage) who defines them as customers who purchase your product or service in quantities that optimize your profitability.
Start by assessing what has worked to build your business…from the perspective of your core customers. What characteristics do your core customers share? Focus less on statistics like annual sales, number of employees, etc. and more on the attributes demonstrated by your core customers that align with your business preferences and needs.
Then, evaluate why your core customers buy from you? Seek to understand how your unique differentiation or competitive advantage positively affects each core customer’s business.
Learn your customers’ goals and strategies. Specify how you are producing strategic value for them by generating a financial advantage that also strengthens their differentiation or competitive advantage. Intensify your collaboration with your core customers. And, ensure that your resources are aligned to support your
collaborative initiative.
What 5 characteristics are most common among your core customers?
How can you use this insight to find more customers?
Share your thoughts and I’ll respond within 24 hours.
