Douglas Mellor is an Associate Consultant of GDP Global and a business leader with 35 years’ experience in technology dependent industries, including turnaround and post acquisition...
Who or what is your customer?!It’s a great idea to categorise your clients in your own mind with easy to recall names so that when you trip over someone at a networking event or get an approach for information, you can say ‘Ah – this person is a so-and so’. It makes recognition of the type of customer easy and with it comes an automatic identification of the sort of response to give. A ‘must have’ client is one that you will drop everything to serve and attract whilst a ‘timewaster’ will not elicit a fast response or is now just not the kind of client you want these days. So as we venture forth in to the recessionary climate I notice that one large company has already categorised their consumer clients into these pigeon holes.
CRASH DIETERS are pessimistic about prospects and cutting expenditure – the least interesting to business.
SCRIMPERS are young families on average incomes keen to maintain their lifestyle at a lower cost. The key is to tempt them into cheaper brands – and then increase volumes and margins.
JUSTIFIERS are well off and happy to spend but need an excuse to do so – they respond well to ‘bundled’ offers.
OSTRICHES are mainly single men in denial of the need to rein in spending
TREATERS make virtuous attempts to save, and reward themselves with treats – a boon for home entertainment retailers.
ABSTAINERS are in ‘browse mode’, with potential to be converted if you stay in touch and tempt them with a good offer.
CLOTHCUTTERS tend to be well off, middle-aged and refusing to compromise on quality; they will forgo one ‘big ticket’ purchase to fund another.
VULTURES see recession as an opportunity to pick up bargains. TOO many of these among one’s clientele is a sign of trouble: ‘If vultures are preying on you, the chances are you are having a closing down sale’.
What soubriquets can IPAs give what type of corporations who may be enquiring for potential inward investment in these straightened times? And indeed which of the categories applies to your own IPA?!
