No business can survive without having a large customer base. The success of any business establishment depends on how well the company is able to roll out great products and services to meet the needs of its growing customers. However, today’s customers are slightly more complex, so if you think you can guess their preferences without actually getting to know them individually, you risk losing your customers. And if not rectified, this could also lead to total business failure.
Successful organisations ignore hunches and use innovative tools instead, to tailor their marketing campaigns with stunning precision. About 90% of top business executives believe that customers are the reasons behind their success.
Want to increase your conversion rate? Here are the top 5 ways to get to know your customers better.
1. Stop Making Assumptions
Though your business instincts may have worked for you in the past, they may not necessarily work today because customers are continuously evolving with time.
Running a business on assumptions can launch it into an unpredictable future. Instead of assuming that customers are this way or that way, business enterprises must look into the customer relationship management (CRM) system for useful insights.
2. Use Social Media
The facts speak for themselves. Business leaders do not need to be reminded again that social media is a powerful tool.One recent survey found that a whopping 38% of marketing teams harness pools of data from social media outlets to fine-tune the targets of their campaigns. Businesses are encouraged to create social media accounts on Facebook, Twitter, and Instagram. As customers interact with your posts on these social media platforms, they are actually revealing a lot of valuable information about their likes and dislikes. This is one cost-effective way to understand your customers in great detail.
3. Ask Questions
More often than not, business leaders don’t bother to ask their clients some important questions. Asking your customers simple questions such as “how” and “why”, can break the barrier to discovering your customers’ big data. According to one Yesmail Interactive survey, roughly 80% of business brands lack sufficient data to execute their marketing campaigns.
4. Use Innovative User Research Software
The tech industry has more than enough user research software for business purposes. Also known as user experience (UX) testing, this software is increasingly being used by many business organisations to probe into their customer landscape. These tools assist companies to gain better insights about their customers’ emotions, actions, and thoughts during their journey through the sales funnel.
5. Use Analytics Tools
The digital age came with a wave of limitless information. Some companies sit on mountains of data but struggle to read between the lines of their information resources.But with analytics tools such as Google Analytics, organisations can dig out customer insights from their data sources. Analytics tools can take you farther than into your consumer landscape, unearthing your customer’s behaviour, preference and dislikes.
Knowing your customers is the key to making more money as a business owner. By leveraging the endless depth of information on social media, and integrating with technological tools, you are on your way to improving users’ experiences.
*this is a collaborative post