Knowing your customers is key to a successful marketing strategy
A successful marketing strategy is dependent on how well you know your customers. Smart businesses find ways of learning more about their customers and below are the main ways to increase your understanding of your customers:
1) Research customers: identifying the “why” is as important as the “what” in a purchase decision.
2) Analyse competitors: what are your competitors doing right and where are their weaknesses.
3) Learning more about your customers on a personal level, often helps in delivering a better product or service.
4) Review customer feedback and comments: if your customers are already engaging with your business or brand, the chances are they are telling you how they feel about your product or service. There could be an opportunity within the feedback to improve your product or service.
5) Observe customer behaviour – either directly (in your premises) or indirectly (through communication) – what customers are doing now is a good indicator of what they will continue to do in future.