Do not make the same mistake

Hello there,

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TGIF!

Just a quick one before we head fully into the weekend.

There is this mistake many entrepreneurs make that greatly affects their business operations. It is the simple mistake of confusing consumers for customers and vice versa.

Although related, customers and consumers are two distinct terms in business that have been used by entrepreneurs interchangeably over the years but wrongly by many.

While a customer refers to an individual, organization, or group that buys a product or service from your business, a consumer on the other hand is an individual, organization, or group that uses the product or service purchased.

Confuse? Let me break things down a bit.

I’ll explain with a simple example: If you sell children items like toys, bedtime story books, or maybe costumes. You know for sure that the people that get to use these products you sell are kids, those are your consumers, while your customers are their parents – the people that get to buy the items for the users.

Your customer can be your consumer, but your consumer might not necessarily be a customer.

Understanding the difference between these concepts is very important in two core areas of business - marketing and product development.

In marketing, this will help you create copies to trigger the right emotions in your customers to make a purchase. While in product development it will give insight into product features and values that will appeal to your consumers.

To help you better understand these concepts, we have written an extensive article on this topic which you can access here.

It’s Friday, make sure you make the best of your weekend and remember to rest.

Do have a lovely weekend ahead, cheers!

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Best regards,

Marvelous Igbayo

CEO/Co-founder Effe Towers