Stop Copying Best Sellers and Choose Your Customer Instead!

Stop Copying Best Sellers and Choose Your Customer Instead!

Table of Contents:

1. Introduction
2. The Problem with Copying Best Seller Listings
3. The Alternative: Choosing Your Customer
4. Building a Business Based on Profitable Customers
5. How to Determine Profitable Customers 5.1. Income Level and Spending Habits 5.2. Expensive Hobbies and Activities 5.3. Aesthetic Preferences 5.4. Life Phase and Future Potential
6. Case Study
7. The Power of Targeting Customers
8. Developing a Product Mix for Your Target Market 8.1. The Seven Types of Products 8.2. Creating a Brand that Lasts
9. The Benefits of Building a Market Leader
10. Conclusion

Stop Copying Best Seller Listings: Choose Your Customer Instead

Introduction

In the world of online business, it can be tempting to take shortcuts and copy what others are doing to achieve success. However, simply copying best seller listings is not a sustainable or long-term business plan. In this article, we will explore why chasing best sellers and focusing on products alone is a product-centric approach, and how choosing your customer can lead to a more profitable and consistent business.

The Problem with Copying Best Seller Listings

Many YouTube videos promote the idea that copying best seller listings found on platforms like Everbee will guarantee success. However, this approach is far from the truth. Everbee may provide some direction, but it is not always accurate information. Copying a listing does not guarantee that you will suddenly start making thousands of dollars a month. It is misleading to believe that copying someone else's ideas is the best way to build a successful business.

The Alternative: Choosing Your Customer

Instead of chasing best sellers, a better alternative is to choose your customer. Building a business based on profitable customers who have consistent spending habits is the key to long-term success. By selecting customers who have higher discretionary income, stable jobs, and value time over money, you can create a solid foundation for your business.

Building a Business Based on Profitable Customers

To build a successful business, it is essential to target customers who will provide consistent income. This involves analyzing factors such as income level, spending habits, expensive hobbies or activities, aesthetic preferences, and the phase of life that the customer is in. By understanding your target market, you can tailor your products and offerings to meet their needs and preferences.

How to Determine Profitable Customers

1. Income Level and Spending Habits: Identify customers with higher discretionary income and secure, stable jobs. These customers are more likely to spend money on quality products and services.

2. Expensive Hobbies and Activities: Look for customers who already spend a significant amount of money on hobbies or activities related to your niche. This indicates that they are willing to invest in products within that area.

3. Aesthetic Preferences: Determine whether your target customers prefer timeless or trendy aesthetics. This information will help you make informed decisions regarding font choice, color, and branding.

4. Life Phase and Future Potential: Consider the phase of life your customers are in and the phase they are entering. By serving customers for at least four to seven years, you can increase the lifetime value of each customer.

Case Study

To demonstrate the effectiveness of this approach, let's look at a case study. An attorney who joined the program initially wanted to target the wedding market. However, after going through the program and understanding the importance of choosing a profitable customer, she decided to target a different customer segment. Within a few months, she was able to quit her job and focus on her Etsy shop full-time, thanks to the high profitability and consistency of her chosen customer.

The Power of Targeting Customers

Targeting profitable customers allows you to build a brand that serves people for a long time. By consistently attracting and retaining customers, your business will experience compounding growth, as satisfied customers refer others and make repeat purchases.

Developing a Product Mix for Your Target Market

To serve your target market effectively, it is crucial to develop a product mix that caters to their needs. The "Seven Types of Products" framework offers a comprehensive approach to building a balanced product assortment. By diversifying your product offerings and providing different types of listings, you can drive up your order number and revenue simultaneously.

The Benefits of Building a Market Leader

By choosing your customer and building a brand around their needs, you position yourself as a market leader rather than a follower. This allows you to charge higher prices and enjoy higher profit margins. Furthermore, building a business with consistent income leads to peace of mind and opens up opportunities for financial growth and stability.

Conclusion

Instead of copying best sellers, adopting a customer-centric approach is crucial for building a successful and sustainable business. By choosing profitable customers, understanding their preferences, and developing a product mix that meets their needs, you can create a brand that stands the test of time. Consistent income and customer retention will provide you with peace of mind and the opportunity to grow your business for the long haul. So, rather than chasing best sellers, embrace the power of choosing your customer.