How well do you know your customers?
The success of any marketing activity depends on one thing – customer knowledge and whether you have it or not. Researching your customers is essential to develop a deep understanding and knowledge of them and the market place in which they operate.
Here are a few suggestions for how this can work:
- Survey your current customers – so you can understand why they buy from you, what you do well and perhaps most importantly what you do less well. By using the results, you can fine tune your offering, build customer loyalty and sell more
- Profile and categorise your customer database – this enables you to divide your customers into segments in order to find the most profitable, fastest growing etc. You can then focus your resources on segments that yield the greatest opportunities.
- Optimise your value propositions – in order to target your communications effectively utilise different messages for different market segments. You will then be able to correctly define your benefits, provide a tailored solution and maximise sales.
- Develop and innovate – research enables you to confidently identify and develop new markets, channels, processes, systems and/or products and services. This allows you to stay ahead of the competition, by focusing on profitable opportunities.
- Lower your risk – good research means you can plan and prepare for potential changes in the market place or your customer’s expectations. This allows you to increase your business’ chances of survival in a fluctuating environment.
For marketing advice and support, contact Vicky at Fuel on 07766 566690 or email vicky@fuelmarketing.co.uk