Understanding the needs of your customer is an important aspect of entrepreneurship. However, those entrepreneurs who can anticipate the needs of their customers and are able to exceed their expectations are the ones who are able to establish sustainable customer loyalty.
In the present scenario, customers have more power than ever before. They have at their disposal social media, review sites, and other comparison apps, which provide them with innumerable choices. Customers are more suspicious and less loyal than they were earlier, and understanding them is getting harder.
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To launch and sustain an effective marketing campaign, marketers need sufficient amounts of data. According to a new study, 80 percent of the marketers at different brands say that they lack in fulfilling this requirement. The result? A lack of deep understanding of the customer, and corresponding losses.
Identifying who your customers are
When you are creating your customer profile, you need to ask yourself relevant questions so that you are able to define your customers better. Your customer profile should cover all the basic demographic information like age, occupation, and marital status, but that in itself is not enough. You also need to understand the key behavioural aspects and motivations of your customers as to why they would want to engage with your brand.
Perception from the customer’s viewpoint
For doing this, you need to minutely analyse and study the points where the consumers come in direct contact with your business. According to a content marketing strategist at Pipedrive, putting yourself in the shoes of the customer is made possible by an advance technique called customer journey mapping. This is a method through which companies provide a detailed representation of the customer journey based on critical touch points, the interactions between the customer and the brand prior, during, and after purchase.
Making use of data
Every single action by consumers, like the amount of time spent on a page or clicking on a specific link on the webpage, is useful in generating data about the customer behaviour. There is a variety of information like behavioural data, web analytics and so on to which marketers might not be giving enough importance.
You can employ a user behaviour tracking tool to understand how customers interact with your website. Google Analytics can work as a useful tool for getting insights. If the marketers want to remain competitive in the rapidly growing digital channels, then they have to use all the available information on their customers.
Engagement is invaluable in understanding your customers. Alex Turnbull, Founder of Groove, schedules regular follow-up calls with his customers so that he can understand what they like or hate about the product. Engagement channels serve as a means of collecting insight about the customers. Data collected from this interaction helps in providing a better understanding, as well as in filling the gap between expectations and action.
Generate patterns and use the gathered insights to move forward accordingly. Creating good customer service strategies will encourage your customers to share their own thoughts and ideas. You can also use customer satisfaction surveys to get real-time data. If you get your customer engagement strategies right, they will serve as a source of customer insights, which in turn will serve as a source of revenue.
In conclusion, we can understand that understanding your customers is a fundamental requirement for running any business. If you want your customers to stay, you need to provide them the experience they desire, and for doing that, understanding them is a prerequisite.