Who has Your Customer Now?
Do you know Who Has Your Customer Now?
One of the best questions that I was ever asked by a business coach was, "Who Has Your Customer Now"?
That question doesn't mean: "Who is your competition? Which restaurant are they at now?" It means: "Where are they now? Who else serves them in terms of businesses?"
If you are a high end, fine dining restaurant: Are they shopping at the BMW car yard? Are they shopping at Maserati? Cartier, Tiffany's etc. Where are your customers shopping now? If you are a family-friendly restaurant: Are they at the cinema? Are they at the school? Where are your customers now?
So think about that, your customers don’t just spend in your place, they spend in lots of different places. If you know the demographic of your customers, the age range, spend, gender, civil status, etc., you can track down where they are.
Once you've done this marketing strategy, you can reach out to those other businesses and do joint-ventures so that they can drive business to you.
- This is a NEW BUSINESS strategy.
- What are the demographics of your customers?
- Where are your ideal customers shopping or gathering now?
- Approach appropriate businesses to do a joint venture to grow your list.