Explore this, analyze this
What do you know about your clients? Are you interested in them? And how often do you think about your products and your services from the point of view of buyers?
Now, ask yourself a few questions. Are you familiar with your clients? Who are your consumers? Do you know them? What are their passions, habits and values? What do they like and what do they disapprove of? Take an interest in them sincerely, and not for a formal gathering of information in order to use it to determine the NPS index. You see, only when you know your customers, your customers well, and most importantly, correctly, only then can you create competitive and relevant services and products and effectively promote them.
Here are some examples. Company X launches Facebook advertising campaign. She spends a solid budget on this. Hires a dedicated employee. He not only monitors the activity of users, but also answers their questions. The budget and the entire program are scheduled for 2 years. Time passed, and the company received absolutely nothing, only spent money. The hired person is fired, the program is closed. What was the conclusion? That the wrong person was hired to be active on the wrong network! After that, a decision is made to promote through youtube. This time the company is acting more prudently and adopts the program for a period of one year. He does not hire full-time employees, but applies to a specialized agency. Videos are shot and money is spent on their promotion. But after a year this program is also closed.
When I happened to meet with the head of this company at a conference, he asked me: can I explain why everyone succeeds, but they, despite the efforts and costs, do not have the desired result. We began to figure out: who is “everyone who succeeds”, what exactly is all, “what works,” and most importantly, what goals were pursued by all these programs. The most obvious thing was found out: the company’s clients belong to a fairly age group and live mainly in regions where these social networks are not very popular. That is, the company created great content, but showed it to a different audience. Their products are not of interest to young people, and videos on YouTube do not reach the seniors of the older generation.
It is important to know not only your customers, you need to know consumer sentiments and preferences in general. By the way, there are business areas where the main marketing strategies still work to expand distribution and increase brand awareness and do not imply any targeting.
Let me give you another example. A customer purchases your product through auto parts stores. You know about this, and therefore you are focusing on this sales channel. And most likely you don’t even know that the global trend is that every year these products are bought more and more through supermarkets or, say, through car services. If you do not have such information, then you will not be able to properly promote your products.
This information cannot be obtained without research and analysis. Moreover, without conducting regular research, you can miss very important trends and be left without information about customers, their preferences, desires and expectations. And without that, all your marketing work will turn into firing a cannon at sparrows.
About the Author
Alexander Gruzdev is an extraordinarily experienced consultant in business analytics. Since he was 14, Mr. Gruzdev was working in the market research industry and started several businesses including gambling organizations, retail shops, and real estate.
Since his first entrepreneurial endeavors began, he never quit market research – in fact, during the last 15 years Mr. Gruzdev held the positions of general manager and shareholder in this segment. His experience in global market intelligence spans over 20 countries including Europe, Russia, Asia, and the MENA region, for more than 100 different customers.