Why Knowing Your Customers is Important?

In the business world, knowledge about your market is power over your competition. But what kind of information do you really need to know about your customers? And how do you gather all those precious data?

Of course, you want to find a lot about the people who bought from you. But you can focus on the really essential ones and eventually get started to having a more efficient, more targeted business.

Who, Why, and How

There are three vital things you need to discover about your customers – who they are, why they bought from you, and how they reached you and bought from you.

You need to know, of course, who they are. This means their age, gender, location, and occupation, at the very least. Marital status, hobbies, interest, and other personal information are also important. But you can already commence reviewing your business and improve it with the first four mentioned.

These details will give you a good idea of the people who need you. You can then zero in on where and who you’ll market to. You’ll also be able to determine better strategies for marketing and pricing. Knowing these information can definitely help you have a more efficient day-to-day business.

Next question you’d want your buyers to answer is why. Why did they buy that product from you and not the other model? Why did they buy from you and not the store next door?

Knowing the reason a person went to you and bought that particular product will give you a lot of ideas on what to do next in your company. It will help you know the strengths that you can maximize on. This knowledge can also provide you direction for your branding efforts.

Also important to know is how they got to you and bought from you. Knowing where they saw your name listed or advertised will let you know where you can spend more of your marketing money on.

If you have both an online and a physical store, you might want to compare how many bought from the Web and who went to drive and stepped inside the shop. This will give you a look at the purchasing method preference of your customers. If they’re going towards buying online, you might need to gradually prepare to pack up your shop in the neighborhood and go full blast on your online store.

How You Get to Know Them

Fortunately, you now have more options on how to get valuable information like the ones mentioned above. With the aid of technology, searching for details about customers isn’t so difficult anymore. Not to mention, the methods now are more precise.

• • Analytics programs can now be easily acquired to measure online-based sales and marketing efforts. Many are even free of charge. The results of these programs can give you a full view of the performance of your company’s every aspect, including “small” details as the keywords you use for ads.

• • Phone solutions today now often feature call tracking numbers, Interactive Voice Response (IVR), and other programs that can help you trace every customer’s location, method of buying or entering the site, etc. These are very useful for both online and offline marketing.

• Also useful for any type of business is surveying. But this time, you’d need to do it through mobile or Internet-based means. Polls and single open-ended questions have become more and more interesting to people using Twitter, Facebook, and other social media.

Once you know your customers, you’ll know how to improve your production, marketing, pricing, and every other aspect of the business. If you haven’t yet, you need to make this a priority task to boost your company’s growth.

It’s also worth mentioning that knowing your customer is also applicable to your business’s protection from fraud. ApplyingKYC in banks, for example, is very crucial.

Shared by calldynamics.com.au