Not All Customers Are Equal
When we talk about clients or customers, we often mention them as if customer means “one who buys.” But not all customers are equal. Look at the depth and breadth of consumer offerings. Take in the business services and products. You’ll soon realize that customers come in more than one kind.
You can fly Southwest. British Airways, or take a private jet. You can buy M&Ms in all sorts of special packages and colors. You can turn almost anything into a refrigerator magnet now. But if you go to “In and Out” in California, you’ll only get a burger.
Traditional business models outline three:
- Top of the Line Buyers
Elegant, elite, one-of-a-kind, cutting edge. Stand in line, pay higher price, doesn’t mind a few complications or an occasional bug. These are the folks who stand in line for the first iPhone. Folks in this group go on vacations to places that other folks never see. Sell one for $$$$$/each - Service and Fit
Value beats price. Relationships matter. Service is remembered. They look for their values as well as their size. Google is making this group larger as it makes it easier to find what we want in a world wide inventory. Sell more for $$$/each - Volume Shoppers
Go for the discount. No frills. Don’t spend on what we don’t need. Lowest price. Generic is the same thing. They’ll give up service for speed and low price. Sell boxes and boxes for $/each.
When you decide on your product or service, think about which customer you serve. If you’ve already got an offer out there, should you be looking more closely at the customers you are reaching?
Not all customers are equal — which are yours?
–ME “Liz” Strauss
Work with Liz!!
Models and Masterminds starts the week of June 16.