Many companies begin and many continue without a clear sense of their target customer. Some resist clarifying the target; they want to appeal to as many buyers as possible, and defining a target implies excluding some customers. Others are unable to describe in more than a cursory way who does or will buy their offerings. We have to serve the entire market, runs one common belief. Or sometimes: We can’t afford to focus.
Customer insight is not all about employing an analyst, or even a team of analysts. It requires organisational commitment to change. If it was easy, every organisation would have customer insight sorted.
Below are a few building blocks of customer insight:
Consider Customer driven marketing:
A customer-driven marketing strategy includes elements like identifying your target market and reacting to their needs. It should also detail ways to retain customers and use them to help you gain additional business.
Target Your Market A customer-driven marketing strategy includes elements like identifying your target market and reacting to their needs. It should also detail ways to retain customers and use them to help you gain additional business.
Build Loyalty Customer-driven marketing helps to build loyalty, which can lead to repeat sales as well as referral business. One method used by marketers is the implementation of a rewards program where customers receive points each time they make a purchase. The accumulation of points leads to free or discounted products or services.
Use Customer Feedback Use feedback from your customers to make changes or improvements to help you continue to meet customer needs in the future. For example, your customers may indicate that they want a cleaner store, a different product mix or a better customer return policy. Make any necessary changes and use your marketing strategy to get the word out to show that you're focused on serving your customers.
Clearly Define objectives:
A brand needs to be specific in defining its aims and objectives before dissecting the customer’s mind.
These building blocks help companies make strategic choices and carry them through to operational reality.