The key to being successful in your market
Upnify Editorial Team - 20 de diciembre, 2022
In this article, you will learn:
How does knowing your customers help you succeed in the marketplace
What information do you need to know about your market
3 Effective tools for gathering information from your customers
The heart of every product or service is to satisfy some need or desire of the consumers to whom it is addressed, this is the key to success in the market. The best companies know perfectly well what is most important to their customers and find ways to exploit that knowledge, starting with their advertising to let people know that this product or service is what they need.
You should also know that these elements are not always related to the price of your products, therefore, although many entrepreneurs decide to directly reduce the cost of their products or services, this does not always guarantee success in the market, in most cases consumers do not choose the lowest priced product, but the one that offers the benefits that are most important or attractive to them.
If you want your company to succeed in the market, you must know everything you can about your customers, remember, information is power, so use it to your advantage to increase your sales.
For this the most reliable way to achieve this is to ask your customers directly through a market study; many companies panic when they hear the phrase "market study", however, this does not have to become a complicated and tedious task for you, the simplest way to start is with a service satisfaction survey, this will help you to know what your points are and where you can improve, here lies the key to success for your company.
Be interested in your customers, they are the main element of your company, so ask them beyond the obvious; investigate what are their needs, concerns, tastes and interests, you can do it in different ways, but the most common and effective are usually surveys.
Here are 3 types of surveys that in our experience have worked for us to better understand the needs of our customers.
Use the technological tools that are available to you to design and optimize your survey, for example with the use of a system like the CRM of Upnify, you will be able to send your form and save a lot of time, you will also able to improve the follow-up and organization of the answers you receive. On the other hand, the disadvantage of online surveys is that they have a low response rate.
On many occasions you will have the opportunity to talk to your customers personally, especially during and after the sale, you can take advantage of those moments to get the information your business needs. This type of survey is the most recommended to improve the response rate, because it allows you to more easily dig into your customer's comments, but you must be careful because their answers may be biased by the desire to please, impress or not look bad in front of the interviewer.
This method allows you to interview unapproachable customers, has a low cost, and is relatively fast, however it has the disadvantage of limiting the amount of information you can get from each customer because not all of your customers will be willing to give you a lot of time during a call, so take advantage of every minute.
For your brand to be successful in the market your product or service must have features or benefits that can rival those of your competition, you must be able to differentiate yourself from them by one or two features that are relevant to your customers, it is at this point that knowing your customers will be the key to position your company in the market.
If you want to know more about the benefits of knowing your customers and how the results of your research will help you achieve success in the market I invite you to read the following article.