By Hakeem Ogunniran Managing Director, UPDC plc.
Find the right Customer
• Competing in a crowded market is suicide.
• Continuous segmentation of potential customers is key.
• Focus on identified segments / customers
Key Drivers of Segmentation
• Social Class
Income, Occupation
• Benefits
Customer Values and Preferences
• Lifestyles
Predispositions
• Geography
Distributions Channels
• Personality
• Family size
SALES DRIVERS
1.Sell What People
Want To Buy (Right Product)
2. Get Customers’ Insights.
• Determine which housing variants they want
Terraces; Detached houses; semi detached houses; flats; Bungalows etc.
With or without servant quarters
• What Recreational Facilities do they value?
Number of parking lots / visitors car park; Children play area; Swimming pool; Gym, lawn tennis court etc.
• What is their budget / what can they pay for a particular type of offering (value proposition)
• What services & facilities can they afford to pay for: 24 hours facility management; Provision of electricity with back-up power supply and PHCN); Water Supply; Security Services; Fumigation; Refuse Disposal; Sewage System Management; Gardening and cleaning Services; General maintenance
• Location
Certain locations or ambience may be more convenient
• Price
Some customers will buy the lowest- priced product; others
will buy the product they feel has the best value.
• A solution
The product solves a problem that no competitor solves
• Quality
This relates to how well the product is built.
• Features/ Benefits
The customer considers one feature or benefit particularly
Ascertain The Reason For Purchase
• Performance
Most people will buy products that work best.
• Comfort
This is especially important for busy executives and
middle aged.
• Image
The product can reinforce the image customers have for themselves, allows them to feel good or impress people.
• Relationship: Some customers buy because they like the way the company
does business
• Services:
Backup service, correspondences (Demand notices, Acknowledgement, customer complaints resolution)
