Business Chops Tip #67: How Well Do You Know Your Customers?December 26, 2012 By Jeanne Stiernberg
Demographics describe who they are, including their buying power. Psychographics characterizes how they make decisions, including what drives their purchase decisions, and who you're competing with for their business. Profiling your customers is essential to understanding your market. Can you use customer information to know your market?
Author's Note: Creative and technical professionals (from musicians and actors to designers and engineers) rely on their "chops": those skills and techniques that they use to be successful on the job. Stiernberg Consulting coined the term Business Chops to encompass those skills, experience, and tactics that you rely on to be more successful. Whether you are a dealer, manufacturer, distributor, rep, or design firm, this series includes tips and techniques for optimizing sales, profits, and growth of your Custom Retail business.