Not All Customers Are Created Equal: Four Tools for New Brands to Find the Right Buyers

Over the years I’ve had the opportunity to watch as well as take part in the launch of hundreds of unique and innovative companies.

Many have introduced solutions or services which are clearly useful or fill a void in the marketplace. But very few, at least at the time of their initial launch, have a clear or full understanding of their customers.

This shouldn’t come as a surprise in the case of many pre-sales/pre-revenue situations as these organizations simply don’t have the resources to gain valuable insight about their intended customers. In some cases there simply may not be money to spend on primary research.

That’s not to say that a company shouldn’t seek out information in other ways. Being armed with the right details can make a big difference in how efficiently a company operates from its inception as well as how quickly its solutions appeal to a potential segment or group.

Fortunately a number of resources exist to help your company achieve success and a better understanding of the customers you are focused on targeting and retaining.

Some companies have taken advantage of programs such as Georgia Tech’s Flashpoint. This platform is aimed at reducing the risk and cost associated with starting a company while helping participants quickly get to market and learn useful processes.

Meanwhile, EOS^®, the Entrepreneurial Operating System^®, provides users with a comprehensive set of approaches which integrate a holistic model with a complete set of tools and a proven process aimed at bringing all pieces of a business together.

The approach you take to working with customers will help you to determine if they are happy and if your offering fits their needs.

The operators of Red Roof Inn may know their customers are value-oriented but The Ritz-Carlton takes its relationship with hotel guests a step further by becoming more involved with its patrons while building loyalty to create the most meaningful experience. This ultimately comes down to intimately knowing your customer, understanding and anticipating their needs and delivering what they want.