Importance of knowing your customers
Many successful companies have one thing in common, they know and understand their target audience. In a previous blog, we discussed getting to know your millennial customers as a special audience due to their unique characteristics. In this posting, we will speak on a different aspect of knowing your customers. It is very important for companies to understand the wants, needs, and behaviors of their buyers. This is not always easy to uncover nor is it an exact science. However, the more you focus on knowing your customer, the more likely you are to continue your success.
The first way to begin learning about your customers is to decide who comprises your target market. Not only do you need to know about your current customers, but also your potential customers. In order to understand your potential customer, you need to know your market. There are many things that you can learn about your customers, but we will discuss the most important things to know in the next paragraph.
The most important pieces of information to know about your customers includes who they are, such as their name, age, gender, address, marital status, children, hobbies, education, etc. It is also good to know what they do as far as their profession, why they buy, what time of day do they buy, why they like to buy from you, their expectations of your business, and what they think of your business. Knowing your customers in depth is key in order to be a highly successful business. You should be paying attention to visitor profiles as well. It is important to know your audience and know who is looking at your site. There are programs, such as Google Analytics, that can help you monitor information like who is visiting your site, who is buying your products, their location, how long they visit, and which pages they visit. This information can help you tailor or construct marketing strategies in order to reach your target audience. This will also help you plan your advertising campaigns and track how effective they are at reaching your consumers.
In order to attract your customer, you need to have a Unique Sales Proposition (USP). It is important for you to know why they buy from you. What is it that sets you apart? For example, BMT Micro sets itself a part with our customer service and our advanced automated fraud screening services. We take great care to ensure the safety of all transactions through our system. Our vendors set themselves apart from their competition by offering multiple payment options to their customers for convenience and providing safe and secure transactions, as well as having a full time customer service center through BMT Micro. Your USPs are very important to your customers and you need to be aware of them in order to retain these customers. It is also good to leverage your USPs when promoting your brand. However, keep in mind that you need to constantly check up on your competition to ensure that your USPs are still uniquely yours. If the USP does not set you apart from the competition, then you need to find a new USP to promote. The more your know about your customer, the better strategy you will be able to put together for your marketing and sales efforts. These strategies should be driven by emphasizing your USPs.
Something that very successful companies forget to do at times is to keep the future in mind. Consumers’ interests and your market are constantly evolving and changing. It is important to keep up with trends that may influence your customers and plan to offer the latest innovations to your customers ahead of your competitors. You never want to become complacent. You can conduct your own market research or purchase industry reports to help determine where your customers’ markets are going.
The more you know about your customers and the more you use this knowledge to your advantage, the more successful your company will be. Knowing specifically what your customers wants and needs are, and delivering products to fill these voids can have a large impact on your business. You should also offer your products at the right locations and at the right price. Lastly, make their experience enjoyable. When you treat each of your customers as though they are your most important customer, they will keep coming back!