How to get started with Open Marketing
Step 1. Believe in your customers - Part 2

Hello everyone. I am Hayashi, the representative of Monosus.

Last time, we talked about "believing in your customers" as Step 1 for engaging in Open Marketing.

• The concern for many managers is not so much about sales or profits, or being too busy, but rather that they are not doing the business they want to do with the people they want to do it with.
• On the other hand, many business owners make no effort to communicate to customers the type of business they want to do because it would be unprofitable.
• It's not that you lack confidence or conviction in your products or services, but you don't make an effort to communicate that to your customers because you don't trust them.

The content was as follows.

This time, I would like to explain in detail why we cannot trust our customers.

Dilemmas faced by managers and marketers

As I mentioned in the summary above,
Many business managers and marketers seem to think that if they tell their customers exactly how they want to do business, it won't be profitable.

That's why I've come to the conclusion that it's unavoidable to have to bend the way I do business in order to make immediate sales.

In reality, it is easy to imagine that if a company with no name or track record were to proclaim its ideals, no one would pay any attention to it.
To avoid this, it is only natural that companies will first seek out what their ideal situation is by providing products and services that may be seen as compromises in response to the needs of their current customers.

On the other hand, if you remain obsessed with the work in front of you and your current results, you will find yourself caught up in a dilemma where you will never be able to do the business you want with the people you want.

I have had discussions with many business executives and marketers about how to overcome this dilemma.

The common view shared by many managers and marketers during the discussion was,
"If we can make a profit from our current business practices, we will use that profit to gradually change to the business we want to do."
It was like this.

However, apart from the early days of business,
In businesses that have gained a certain number of customers and are beginning to get going, the reality is that the profits brought in by regular customers are being invested into attracting new customers.
(This was explained in detail in Vol.5 and Vol.6 .)

In other words, when many managers and marketers think, "If we could make a profit with our current business practices..."
Since it is difficult to make a profit by increasing the number of new customers,
Very rarely does it go well.

The misconception that doing what you want to do is not profitable

"I can't do the business I want to do with the people I want to do it with"
In other words, they are dissatisfied with having to keep attracting new customers who will only buy compromised products and services.
This leads to distrust among potential customers.

The reason why you "cannot trust your customers" is because you only focus on attracting new customers rather than your regular customers.

That's a bit of a longwinded explanation, but it gets to the heart of the problem.

Many business owners and marketers believe that in order to do the business they want with the people they want, they need to attract new customers more efficiently and make a profit.
With that profit, I can do what I want, even if it doesn't make me any money.
This is what they are implicitly thinking.

In other words, deep in the minds of many managers and marketers,
Doing the business you want to do with the people you want to do it with is not profitable.
There is a common misconception that bending the rules will bring more profit .

However, this is a complete misunderstanding.

In reality, the new customers you go to great lengths to attract are unlikely to bring any profit to your company.

Most of your company's profits come from loyal customers who purchase your products and services over and over again without you even realizing it .

In this regard, we highly recommend that you calmly analyze your company's sales and profit situation based on the numbers.
For most businesses, the top 10% to 20% of loyal customers generate the majority of their profits.

It can be said that this situation is creating the feeling that "customers cannot be trusted."

He spent most of his profits and even compromised on what he wanted to do in order to raise the money.
80% of customers are unstable at all times, and in order to keep them coming back, you have to treat them with the utmost care.
This has been the case for years, but performance has not improved at all.
In short, I'm tired of this situation.

The people you should be focusing on are your loyal customers who are already supporters of your company's products and services.
Some of them have clear reasons for supporting your company.
Rather, they see the inherent strengths of your products and services rather than just you, and they deal with them well.

One of the things that has surprised me in my interactions with many business managers and marketers is how little they themselves understand what the essential strengths of their products and services are.

You might be tempted to say that this is not the case,
I have asked many business managers and marketers, "Can you explain why the customer who just bought your product or service decided to buy from you?"
When asked this question, very few people were able to give a proper answer.
Even if you could answer, it would only be your own imagination.

You, the person reading this article right now,
Do you truly understand the essential advantages of the products and services you regularly handle?

In conclusion,
Without knowing your strengths, it is impossible to conduct marketing that customers can trust.

This time, we'll delve deeper into the question of "Why can't we trust our customers?"
In the next article, we will go deeper and tell you how to learn the essential strengths of your company from your regular customers.
I would like to explain the steps you can take to trust your customers and be able to do the business you want with the people you want.

Thank you for reading to the end this month as well.