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Companies like to believe that they understand their customers fully. After all, they’re selling products and making money. Surely, that’s the litmus test, right?
Unfortunately, that’s only a part of the story. You could be shifting a lot of goods - but your business might not be secure. Customers might only be sticking with you because there aren’t any alternatives. However, the moment one comes along, you could find yourself haemorrhaging sales - not what you want.
So what can you do to understand your customers better? Check out the following ideas.
Ask Them What They Want
If you really want to know what your customers are thinking, the best thing to do is ask them. Don’t assume that you already understand what they want. Usually, you don’t.
Ideally, you need to get them to provide no-holds-barred feedback. So if you send out a survey, make sure that it’s anonymous. Also, make it clear that you have thick skin. You want to hear their complaints, criticisms and things they believe will make your company better
Remember, once you have this information, it helps you improve your bottom line. You can make changes and completely overhaul your offering, increasing your profits in the future.
Revisit Your Buyer Personas
Creating B2B buyer personas has always been a challenge. Unlike the consumer market, appealing to other companies in the supply chain involves reaching out to multiple stakeholders and creating quasi-personalities.
Even so, it helps to revisit your buyer personas and think about whether you’re capturing them correctly. Remember, if your appraisal is even a little bit off, your marketing will fall flat, and you’ll reach out to the wrong enterprises.
Learn About Their Values
Like it or not, values, ethics and morals are playing a larger role in the modern economy than ever before. Nobody wants to associate their brand with companies that operate illegal or unscrupulous practices. Everybody wants their audiences to see them as holy.
Before you embark on multiple corporate responsibility initiatives, take the time to find out a little more about what your customers and clients actually find important. For some, the overriding issue will be the environment; for others, freedom of speech. You don’t know until you ask.
Discover What Makes Them Loyal
Loyal customers know why they choose the same company over and over again, but relatively few will write you a letter explaining their decision to stick with you.
Finding out what makes people loyal, though, is critical for ensuring that you continue to win their business. You don’t want to inadvertently make changes that rock the proverbial boat!
The best way to find this out is via questionnaires and just asking people what they think. After enough probing, common themes will emerge that you can then use to boost your business and avoid certain types of changes.
Given the pandemic and current business conditions, it’s never been more important to understand your customers. Getting under their skin and recognizing what they want is your best defense against the current uncertainty.