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Wednesday, 21 September 2016

Acquiring Customers of your Choice



Customers run a business, what will happen if business gets selective of their customers?
Yes it is very true that businesses are run by the customers. Every business is customer centric.
There is no such business (except Mafia) who do not follow this basics of business.
Somewhere in business world there are businesses, who have adopted the policy of Choosing their own customers and are excelling from it.

Let’s Discuss such businesses and their motivation behind selecting customers.

Choosing your customers at once feels like standing in front of the store with a beer in hand and allowing only few of the customers inside which they feel are their preference or by hanging a board on the door “Only Grandpas and Grannies Allowed”. Thats rude and unethical in terms of business.

Concept is same but the way it is executed is different. Instead of standing on the door, drinking 100’s of beers a day and restricting people, change yourself and the strategies in order to convert this customer flow to a relevant customer flow.

Why and How it can be done?
It is done for benefiting both, Business and the Customer.
It can be done by Implementing Customer Identity Management.

Businesses choose their customer base first so as to provide better products for the customers who were their base while developing the product.
Products like Baby Oil, Exotic perfumes, Health Drinks, Snacks directly or indirectly target specific Age Groups, Body Type, Behaviors etc.

Some products or services are demographic dependent, that means they are made for specific demographic like a SunScreen Cream with different SPF values. Some 50 SPF SunScreen Creams  are specifically for Cities like Hawai etc., specifically means the components are not general as a regular high SPF 50 Cream, but are specifically manufactured for people living in that area.

How Businesses can make use of Customer Identity Management platform?
A cIAM helps businesses providing the analytics of their customer base. These analytics are generated from customers itself, by getting data via registrations and progressive data collection.

That’s how business can define their choices and plan accordingly. Businesses with generic products can also opt for a cIAM for making future proposals and research ideas.

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