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Business bitter truth you should know

In this article, we put together statistical data about business that helps you to refresh and improve your business
posted on 14th May 2018
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Technologies are changing so fast and new opportunities appear. If you are an entrepreneur, you should know trends and even be able to predict customers’ desires to be ahead of the competitors.

Here, we put together statistical data to show you trends of modern world. 

⭐ 1 in 3 smartphone users have purchased from a company or brand other than the one they intended to because of information provided at the moment they needed it.

⭐ In fact, 53% of visits are abandoned if a mobile site takes longer than three seconds to load… Actually, for every one-second delay in site load time, conversions fall by 12%.

⭐ Businesses risk losing as many as 22% of customers when just one negative article is found by users considering buying their product. If three negative articles pop up in a search query, the potential for lost customers increased to 59.2%. Have four or more negative articles about your company or product appearing in Google search results? You’re likely to lose 70% of potential customers.

⭐ Smartphone users are 50% more likely to expect to purchase something immediately while using their smartphone compared to a year ago.

⭐ 45% of people watch more than an hour of Facebook or YouTube videos a week.

 Some tips to improve your business

About information provided at the moment, customers need it

To be sure that your product comes on time and to predict customers’ desires you should learn your customers carefully: their demands, habits, and interests. At the same time, using special tools you can track your customers’ behaviour on your website with the goal to improve conversion.

Here is a list of useful content that will help you to understand your customers:

👉  Applied neuromarketing

With the help of neuromarketing, you can “draw” a psychological portrait of your audience to understand their real needs and learn the best ways to communicate with potential customers.

You can learn more about neuromarketing and its application to a business outcome from the record of webinar “Applied neuromarketing”.

👉 Customer development guide

Here you will find out questions you should ask to improve your relations with customers. You can also download the list of “good” and “bad” questions.

👉 The Tools Early-Stage Startups Actually Need to Understand Their Customers

In this article, Peter Reinhardt, CEO, and co-founder at Segment tells how his company grew from 4 to 60 workers during 2 years, how they got thousands of new customers and $44 mln over several rounds of financing. What was the trigger for such a significant inflection point? Segment team started to heavily lean into qualitative feedback tools.

In this interview, Reinhardt draws from his extensive evaluation of tools to share how and when resource-constrained startups should select them. Here, he weighs in on the build-versus-buy debate, provides recommendations on which tools to consider across eight distinct categories, outlines the pitfalls to avoid when choosing tools and when to declare tools successful.

👉 Understanding your customers and visitors using analytics

In this article, you will find tools to analyse your website visitors to understand your customers and improve conversion.

About time to load your website

Advice about it is simple: hire a specialist to create professional and “light” website, if you cannot create it yourself.

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About bad reviews

In general, unhappy customers prefer to keep silent. But if you have negative reviews, don’t hide from an answer. Let people see that you are open for discussion and ready to change something in you work.

Give your clients your email address: it is easier for people to write about some inconvenience or unsatisfactory quality than tell it personally. And make sure you answer client emails within an hour, not within a day or within a week — it actually makes quite a big difference in how potential clients perceive you and your company.

About purchasing a smartphone

Here you should think about an application for smartphones. It will help your customers with purchase and be connecting with your company.

If you don’t have money to create an app here is the list of free platforms where you can design an application for smartphone:

👉 The easy way to create your own app

About video

The video became a format for viral content. For many people, it is more comfortable to watch or listen than to read. You can show customers how to use your product and record live video to get closer to your customers.

Here is the article about how you can promote your Youtube channel:

👉 18 Smart Ways to Promote Your YouTube Channel

Good luck to you!

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