Do you know who your best customers are?

If not, you should. 

For many reasons, some obvious and well, some you may not be aware of. 

Before I jump in, I wanted to say thank YOU! I appreciate each and every one of you allowing me space in your inbox and your journey!

As a reminder, you can always access my past posts here.

If you can think of anyone who would benefit from my stories and knowledge, please do share 🙏

Let’s start with the why. Why you should know who your best customers are. 

Let’s start with the why. Why you should know who your best customers are. 

Well, for one, you want to sure to know who they are so you can thank them ;) 

You may even want to have a reward program for them, or some sort of way to be sure they feel especially valued. 

Similar to some sort of reward program is a special retention or loyalty program for your best customers. You may want to put measures - and actions - in place so you are keeping an eye on your best customers and ensuring they stay with you. 

You want to find more customers just like them!

With marketing today, there’s lots of ways to find “lookalikes” of your best customers.

Whether that’s leveraging some of the targeting available on social media or other digital channels, or leveraging research and data tools to find lookalikes in your current market or perhaps a new market, there’s incredible value in knowing who your best customer is. 

Knowing who your best customers are can inform your content.

You may have heard me say before that the best content is created with a 1:1 approach. What I mean by that is that the content feels as if it was created for and delivered to one person vs mass broadcast.

And, you guessed it - that one person should be your best customer 😉

So, now that you are on board with the importance of knowing who your best customers are, let’s make it actionable…

How do you find who your best customers are?

Well, first we need to define what makes them the best. Let’s look at some ways to do that…

Revenue, particularly Lifetime Value (LTV)

If you don’t already, I encourage you to find your average LTV for your customers.

→ How much do they spend with you over the course of their lifetime with you?

This gives you two incredibly valuable data points:

1. what is the average time that customers are with you

2. and over that time period, how much do they spend total. 

Profitability

If you offer multiple products or services, you likely have some more profitable, or have a higher margin than others. 

Your best customers are likely also your most profitable.

So, if you don’t know already, take a look at your different offerings and then look at those customers. 

Shared values

So this one is more intangible, but incredibly important in my opinion.

By shared values, what I mean is do these customers align with your and your company’s values? Is it the type of work you want to be doing. I shared a little about this in my very first post, which you can read here. 

Take action…

I encourage you to define who your best customers are if you haven’t already. Knowing this will help you be strategic and intentional with your growth. 

Rooting for you!

Til next week 👋

Maeve

Lastly, if you want to start your own Beehiiv newsletter, you can start here 🥳