The emphasis of every company, every corporation is to provide the highest degree of customer satisfaction to solidify its customer base and build a reputation. This reputation is then used as a means to gain more customers through advertising.
Corporation invest a lot of capital in market research to keep a track of the behaviour and likes and dislikes of the customers and be prepared to respond to market trends as they change. The amount of money invested in keeping track of the customer data gathered through surveys and buying patterns to get a clear picture of the what the consumer is buying and what is now obsolete is a core strategy employed to ensure maximum profits for the corporations and to further increase its efficiency, it is imperative that the mind-set of the average customer be understood.
Unlike corporations, startups do not have enough budget for R&D, but they do have the option to learn from the researches conducted by these corporations.
This article will sum up multiple researches on customer behavior into 5 quick tips. So, here are 5 tips to better understand your customer?
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1- Customer Feedback
The best way to understand what a customer is looking for is to engage the customer in a constructive conversation a.k.a. effective customer feedback surveys to filter out the needs, likes and dislikes of the customer. Providing customers with periodic surveys and appraisals will provide powerful insights into what the customer is looking for when he/she visits your outlet or website.
2- Current Trends
The average person follows the trend. From bellbottoms and mutton chops to undercuts and ripped jeans, a trend is something no customer can stay away from. You must identify the current social media or fashion trends and try to incorporate these into your business as convincingly as possible. Trends generate huge hype and are a great way to gain publicity without having to invest heavily in advertisements. A great example can be of the Supreme T-shirts which themselves became a trend and drove the company to an insurmountable height.
3- Customer consciousness
Another way to understand the psyche of your customer is to have a thorough understanding of the likes and dislikes of the customer. You have to identify your target consumer and draft policies and create campaigns and launch products that suit the demographic you’re trying to target. What is the average salary of the customer, what does he do in his free time, his browsing and shopping habits along with the type of content that the consumer is most likely to respond to are important variables when thinking about sales strategies. Many companies, large and small, are turning to product-led growth strategies to get a handle on customer preferences. Learn more about Pace’s product-led sales framework that supports that model.
You have to predict what the future holds and there is no better tool for that than the past. The past holds the key for the future and you have to analyse the past trends and customer reviews designed on good review templates to have a better understanding of what was accepted by the consumers. Data regarding what your customers found the most valuable about your past products, the features they liked and appreciated along with aspects that drew negative reactions gives you a more than clear view of what the customer wants for himself.
5- Put yourself in their shoes
You have to put yourself in the consumer’s place to understand how and what led them to your business. Find out what was the reason behind them choosing you and whether that is an effective way to cater to more potential customers. You have to understand the factors that led a customer to your business and analyse the channels that made it possible for you to get in touch with them.
The Bottom Line:
The above 5 tips are good to start with, but understanding customer behavior and improving the customer experience accordingly is a continuous process and you must update yourself with the timely information to stay ahead of the competition.