Do you know your customers?
– Customer Analysis and Analytics for your Business
Knowing your ideal customer is to see the demand – the need to which you are the supply. Strangely enough, many parallels can be drawn between a successful life of dating or marriage, and you guessed it – business. Before any person can meet a loving partner for life, they have to tackle the hard task of getting to know themselves better. To know yourself better is to understand what you can offer – what you can supply to a possible future wife or husband. Knowing this leads to the next part:
Getting to know the type of partner that would find your supply valuable. Not everything you like will fit the bill of what you can supply to if you’re getting this analogy.
The same goes for your business. You’ve envisioned what your company will work to become and you know what you can offer, but what customer out there has to benefit from what you’d have to provide them?
Any successful boxer will tell you that swinging anywhere will bring you nowhere. So as a business finding your ideal target group or market will bring you one step closer to narrowing down your marketing strategy. Knowing which customers can benefit from your offering leads to our next step.
Narrowing your market down with previous data.
Jumping back to our initial analogy of relationships, both parties in any successful marriage would know the needs of their partner and how to satisfy each of those needs. Whether it’s your love language to require touch, an act of service or words of affirmation, these needs need to be addressed and cared for otherwise you’ll be headed for rocky waters. Again, the same goes for your customer. Each of your customers has different behavioural patterns or trends when it comes to declaring their needs and satisfying them. Customers don’t complain about their mouths. They protest with their feet. They just don’t come back. Knowing when you are not addressing the right need at the right time could unequivocally decrease your clientele.
Predicting where and when specific needs will arise will help you better your stock intake, having the gun ready to fire at the right time. You wouldn’t like to have any unnecessary stock clouding your warehouse or store. Overstocking can mean that your business is trying to meet the needs of customers that don’t fit your target market, keeping more around just for the off chance that one of them will buy into what you have to offer as an extra. You may miss out on your customers’ needs and what they like in general — leading in damaging your business, making you overspend on a stock that will eventually have to be discounted to get off your shelves — wasting money and time.
According to Forbes, 81% of businesses today rely on some form of customer analysis and analytics. Are you part of the 19% that doesn’t know the value of knowing your customers?
Will you be creating the right honey to draw your ideal customer out of a buzzing market and assure a better leads generation to fuel your business?
Having an unhealthy clientele that contains customers that don’t benefit from your offering could lead to your business changing into what it is not. Attract the right client that will accept what you have to offer and which benefit from it time in and time out.
As you’d think, no loving partner would like to change to fit another partner. In the end, you’ll turn back to what you do best and fail to satisfy a need that doesn’t provide your offering, causing you to lose valuable time and energy.
DRIVATIC specializes in creating the ultimate get-to-know dates with your customers, helping you to analyze the behaviour of your clientele base and designing a great analytics solution to better the understanding of your stock intake to save you time and money in offering the right products for the right customers at the right time. AVDW.