The Hidden Power of Your Customers: Four Keys to Growing Your Business Through Existing Customers

UNDERSTAND THE CUSTOMER'S STATE OF MIND

The customer life cycle begins with personal or business needs. Next, customers look for products and services that will help them meet those needs. That said, there are many facets to understanding what each individual customer needs; moreover, needs may vary depending on the life stage of that customer. For individual consumers, this may be similar to the myriad stages of life: student, single, married/divorced, and so on. For a business customer, this may vary depending on either the stage of the company (start-up, growth, acquisition, decline, bankruptcy) or on an employee's needs and roles within the company (C-level, line of business, admin, human resources, purchasing, and so on).

In addition, a customer's perception of a brand may change based on what they intend to do at the moment, as well as on the goals they want to achieve by making their potential purchase. Their needs may also vary depending on the reason they're seeking out a given product or service. This is where we can start to group our customers into “segments” based on what drives their behavior.

To begin, we must consider that all customers are not created equal. For example, let's examine the needs of customers who are searching for a restaurant. One set of customer needs might require a quiet environment that is conducive to conversation, a diverse menu that includes low-cal choices, and availability of their favorite wines. Another group of customers might be looking ...