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I. Potential Customers – The Key To Business Success
In an increasingly competitive business environment, not everyone who shows interest in your product or service is a true potential customer. Identifying the right audience helps businesses save time, optimize marketing costs, and increase conversion rates.
According to a study by MarketingSherpa, only about 27% of identified potential customers actually convert into real customers. This means that without a proper selection strategy, businesses could waste up to 73% of their resources on audiences that do not generate revenue.
"Not every customer is worth pursuing. Success comes from choosing the right person, at the right time, in the right way." – HRDept.vn
II. Criteria For Identifying Potential Customers
1. Genuine Needs
A potential customer is someone who has a clear need for your product or service. If they are merely exploring options without an intent to purchase, the likelihood of conversion remains low.
✔ Real-World Example:
A company needs accounting software to improve financial efficiency – this is a potential customer.
A newly established small business without a concrete financial plan – this is not yet a potential customer.
2. Financial Capability
A potential customer must have the financial ability to pay for the product or service. If they have a need but lack the budget, the transaction is unlikely to happen.
| Customer Segment | High Demand | Financial Capability | Conversion Potential |
|---|---|---|---|
| Large enterprise upgrading management software | ✅ | ✅ | Very high |
| Newly established startup with a limited budget | ✅ | ❌ | Low |
| Individuals merely browsing | ❌ | ❌ | Almost none |
"A true customer is someone willing to pay for the value you provide."
3. Level Of Interest And Engagement
One of the key indicators of a potential customer is their level of interest and engagement with your product or service.
✔ Ways To Identify Potential Customers Through Engagement:
Reading emails, responding to messages, watching product videos
Actively asking about pricing, functionality, and usage process
Having used similar products before and wanting an upgrade
HRDept.vn leverages AI to analyze candidate behavior on its platform, helping businesses identify highly engaged candidates, preventing resource waste on individuals who are merely exploring options.
III. Effective Methods To Identify Potential Customers
1. Applying The BANT Model
BANT (Budget – Authority – Need – Timing) is a model that helps evaluate potential customers based on four criteria:
| Factor | Guiding Question | Level Of Importance |
|---|---|---|
| Budget | Does the customer have sufficient financial capability? | Very important |
| Authority | Do they have the decision-making power? | Important |
| Need | Do they genuinely need the product/service? | Very important |
| Timing | Are they ready to buy now or just exploring? | Important |
"An ideal customer not only has a need but also the decision-making power and budget to pay."
2. Leveraging Data And Technology
Today, technology enables businesses to filter potential customers with greater precision.
✔ Ways To Apply Technology:
CRM (Customer Relationship Management) to track customer interaction history
AI & Data Analytics to analyze shopping behavior and predict potential customers
Smart Chatbots to automatically categorize customers based on their inquiries
HRDept.vn’s platform utilizes AI to help recruiters identify truly potential candidates, rather than wasting time on unqualified profiles.
IV. How To Handle Non-Potential Customers
Not every customer is worth investing time and effort in. Businesses must know when to walk away and focus on higher-quality targets.
✔ Effective Handling Strategies:
Politely decline customers who are not ready to pay
Move them to a long-term potential list for future monitoring
Use email marketing to nurture them without excessive resource investment
"Not all potential customers are ready to buy immediately. Maintain relationships but avoid over-investing in those who are not ready."
V. Conclusion: Focus On The Right Audience For Maximum Efficiency
✔ Identifying potential customers requires assessing not just needs but also financial capability, decision-making power, and purchasing readiness.
✔ Applying the BANT model and AI technology helps businesses optimize customer filtering.
✔ Knowing how to handle non-ready customers prevents resource wastage.
"Business success doesn’t come from reaching more customers but from focusing on the right customers."