If you start a business then you need to know what types of consumers you are going to sell to. There are different types of customers and it is a well known fact that you need to approach then in a way that is appealing to them. There is the possibility to approach them in a massive way. But it the best to approach the right type of customers at the right time. There are five types of consumers on the market. Loyal customers, impulse shoppers, bargain hunters, wandering consumers and need-based consumers. It is a fact that you need to approach all these types of customers in a tailor-made way to generate the most profit without risking loss on your marketing budget.
Loyal customer base.
As the term speaks for self. These types of consumers are the most profitable for your business. They generate the biggest part of your business' income. They might not be the largest slice of your market. But it is quite important to cherish them. Keep them involved and informed about the new products based on their past shopping habits. On social media you can offer information about new advanced products and offer discounts to customers who bought your products recently. It is not like you are the only elephant in the jungle. If they find a better deal they will move on, but to keep them engaged you can offer incentives.
Impulse shoppers.
These types of customers are most likely to become part of the loyal customer base. These type of consumers have no ideal product in their mind. These type of consumers have a budget and because of their sub-conscience. They are in need of something they do not know what. They mostly go shopping because they have spare-time and money in their pocket. You know about love-sick people eat lots Ben and Jerry's, Hagen Daas and Magnums right?. Impulse shoppers are easy to convert because they think buying something quick and fast will satisfy their need.
Bargain hunters.
These are savvy type of customers. The best way to approach them is to advertise in the local newspapers, tv or radio about the discounts you have to offer. It is the best to offer discounts when you have vulnerble products in overstock. You do not want to risk the loss of your profits that will bring when giving discounts. This type of customers are not part of the loyal customer base and they are the toughest to convert because they always seems to get a better deal else where. To appeal to this type of customers advertising is the best way. They are dedicated to the lowest prices and mostly these types of customers are focused on the quantity before quality.
Wandering customers.
This types customers dwell through the shopping locations and they are attracted to the social interaction of shopping. They are somehow related to the impulse shoppers. They are most likely to spend a day in a big city and they will have a bite. Buy sneakers or buy clothing in an occassion. The big cities like Paris, New York or Amsterdam attract them. They might be called out by those cities because they might live in a small town. These types of customers feel like Alice in Wonderland when they see the big shopping malls in a city like Paris, New York or Amsterdam.
Need-based customers.
This above mentioned term is self-explainatory. These people are not easy to deceive. They have a demand and want that product because they have the need for it. This might be because of the status symbol or they are just getting in touch with such and such culture. It is pre-meditated that this type of customers walk into your store for a product they want now. If you do not sell it they will walk into the competitors store to buy it. They are not like bargain hunters who wants quantity before quality. They have decided at their homes what they want. Some have a fetish for such and such product. The prices is not the issue for them.
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