In a competitive market, the success of a business is highly dependent on numbers of loyal customers. The more the number of loyal customers you have the more is the growth prospect. Therefore, it is very important to identify your potential clients first and gradually turn them into loyal customers by meeting all of their expectations from your brand.
Instead of beating around the bush, it is better if you know the skill of identifying a potential client.
• Analyze Who Will Buy your Product Or Service
Fist, analyze the product or service you are selling. How your product or service is going to benefit the buyer? Who will be benefited with your product or service? For example, if you are selling toys then you will have a large customer base. In that case, you have to analyze your product based on the type of toys that you sell and prices of toys. If you sell expensive educational toys then your potential client must me play schools, day care centers or crèche. If you sell inexpensive toys then every parent with small kids can be your client.
Similarly, if you are a physiotherapist then elderly people above 55 years are your potential clients because most of them usually have an arthritis problem.
• Do Thorough Research to Identify Limitation of The Rival Brand
The easiest method to recognize your potential buyer is to do thorough research of the products and services which your rival brand is selling. Try to find the dissatisfied customers of your competitors by reading the online reviews. Identify the limitations in their product and services. The things which are missing in your competitor's brand, if they are present in your brand then those dissatisfied customers can be your potential client.
• Market Research
Market research is the first stage of identifying your potential clients. Today, market research is very much essential before launching your product. You can easily get your potential client in a market where there is a demand for your product. Suppose, you are an insurance agent and sells pension policies. Then you have to look for the markets where people are mostly working in private firms or where people do not have any permanent job and are self-employed.
• Make Optimum Use of Social Media and Online Promotion
Make optimum use of major social networks, such as Quora, LinkedIn, Facebook etc, along with industry-specific networks to identify your potential client. These websites help you to understand what challenges are being faced by prospective clients. You can expand your database by collecting information from the social networking sites. Moreover, you also need to develop the user-friendly website for your brand so that users can easily handle it. There must be a provision for writing comments or feedback. It helps you to know what users think about your product or service. You can add live chat facility to your website which helps in finding the demographics and psycho-graphics of the visitors visiting your web page.