Understand your demographic.
By dictionary definition, a demographic is the statistical study of a population, in our circumstances the population is your customer base or target market. It encompasses the study of all the following: size, structure, distribution, age. It’s important that you can identify the demographic of your business, as it will be the core to everything you do. If you can understand the exact age range, gender range and overall similar qualities of your customers then you’re going to be able to target your marketing efforts, which in turn will increase your return on investment.
What are your customers’ pain points?
A customer pain point is a specific problem that your customer might be faced with, which is easier said than done. Some of your customers might share pain points, whilst others can be completely unique. Here’s an example of using the customers pain points to increase sales:
Example: If you’re the owner of a gym, you know that your prospective customer is looking to transform their body image or improve their overall fitness levels. You can use this fact to market an offer to them. If you think about where the customer is now, which is unfit, not in good shape and unhappy and then sell them the outcome of using your facilities, which is to be in peak body shape for the summer, you’ll increase the conversion rates of your marketing efforts.
As a business owner, marketing your own product and service, you should always use the pain points of your customer to drive your sales. Understanding what the customer has now and what they want and then positioning your service/ product to bridge the gap is how you’re going to be successful this year.
Understand what’s expected of your market.
There are several ways to review the market for your product or service in terms of your competition and your customer.
What are your competition/ the market leaders doing?
It takes one Google search to find out what your market expects, the leaders of your market will set a standard that you will have to match or beat. Check out the website of your biggest competitor and see what standards they’ve set. Look out for their policies on shipping and returns, delivery times and packaging processes. Customers also really like a streamlined process to actually purchasing, so see if you can take any ideas from their site.
What do your customers expect from your market?
You can simply ask your customer directly, via an email campaign or via social media, exactly what they expect from businesses providing the same product/ service as you. This would be better than looking at your competition as it’s coming straight from the horse's mouth and you know that if you implement the expectations of the customer, you’ll always be in business.
When does your customer make a purchase?
For this one, you’re going to have to look at the data your business already has which can be done through Google analytics. We’ve composed a blog which outlines how to set-up and effectively read your Google Analytics data, so check that out here.
Imagine being able to identify a time window in which your prospective customer is historically more active? This would mean that you could set-up an online marketing funnel or some paid advertisements to run in the time window you’ve identified to increase the sales. It’s not a guaranteed outcome, though history is proven to repeat itself as is human behaviour which can be proven with the study of patterns.
How does your customer make a purchase?
It’s very obvious, but identify through what medium your customer is known to purchase through. For example: Instagram, Facebook, Website or Ebay. If you know the most successful platforms for your business, you can double down on those and improve the checkout processes, the cross selling and up-selling opportunities within those selling platforms.