Why you need to understand your customers for marketing
Understanding your customers is essential for successful marketing. It's so important that companies spend millions of dollars on market research a year in an attempt to find out the needs and wants of their customers.
So why do you need to understand your customers for marketing? A few reasons include:
- To meet the needs of your buyers. The better you understand your customers, the more you will know about them, including the things they want to buy. Understanding your customers means knowing what they buy, what their exact needs are, and what they are looking for in terms of products and services. That way, you can better tailor your marketing efforts to them.
- To take advantage of timing. Regardless of what type of service or business you provide, timing will be an important aspect of the buying process. Understanding where your customers are in regards to the buying process can help you better influence their decision, or market your product to them at the right time.
- Establish a relationship. By understanding your customers, you can better earn their trust and repeat business. You will also increase the chances that they will recommend your services or products to others.
- Satisfy their needs. A satisfied customer is one who will not only come back for business, but will also recommend others. Understanding your customers means better satisfying their needs the first time around.
A few tips for getting to know your customers include:
Know what they buy.
Understanding the lifestyle of your customers will help you determine which of your products and services you should can market to them. For example, if you have a day spa, you can market pampering packages to the busy moms who like to get massages or manicures on weekends or who could use a break.
Know how they spend your money.
Knowing how your customers spend their money will be able to help you market the right products and services to them, as well as help you know how to market them. For example, if your customers are wealthier and drive expensive cars, you might assume they don't mind paying for higher status items. Or, if your customers are more frugal, they might be more apt to purchase from you with a promotion deal.
Know when they are buying.
People tend to make purchases at major times in their lives-for example, your customers who are having a baby will be more likely to consider purchasing a roomier vehicle. Or, customers who have just gotten married are more likely to buy homes for the first time. Understanding your customers means knowing crucial buying times in their lives and marketing your products at the correct times.
Not only that, but understanding when your customers buy during the day is important too. For example, if you know the majority of your customers work day shifts, then you can make sure you keep your store hours a little longer than normal, so people can shop when they get off work. The same goes for budgeting. Marketing big ticket items will be more successful when people have a little more money to spend, like around tax season when they get their rebate checks back.
Understanding your customers will go a long way in marketing. It helps you better anticipate their needs and wants so you can better adjust your marketing efforts.