🤩 Desire More Sustainable Growth & Brand Resilience?? 💪🏼

I'm curious... How well do you actually know your customer?

Quite often, the response sounds a lot like, "I know my customers because I've been in business a long time". Or, " My customer is like me, they want what I like".

What data do you have to support your knowledge?

With the way the economy is right now, you can't simply rely on "what you know". Sadly, that's not going to cut it in today's marketing environment!

Your time must be spent on the numbers to control the unpredictable nature of the future.

In this weeks feature article, I challenge you to better understand your customer to discover their values and spending habits! Below I share how you can tailor your product offerings, refine your merchandising and effectively spread brand awareness. 

First, look at the data you already have. Analyse sales records, loyalty programs, and social media interactions. Who are your repeat customers? What products do they buy? When do they shop? This data reveals valuable patterns about your customers' preferences and behaviours.

Next, segment your customer database. Group them by demographics like age, gender and location, as well as psychographics like lifestyle, interests and values. This segmentation allows you to create targeted marketing campaigns and stock products that meet the specific needs of each group.

Consider conducting surveys or focus groups to get direct feedback from your customers. Ask what they value in a shopping experience, what products they wish you carried and what would make them shop more often! This direct input is gold for making informed decisions!!

According to a survey conducted by MailChimp, 49% of "habitual" customers (who favour routine, accessibility and convenience for their purchases) would purchase another brand from a different store, if their preferred one wasn't available!

49% is a huge potential pool of customers that shouldn't be ignored!

Use this information to re-evaluate your product offerings. Are there gaps in your inventory? Are there products that aren't selling? Make data-driven decisions to expand or niche down your selection to better meet your customers' needs.

Re-merchandise your store to highlight products that align with your customers values. Create attractive signage that speak to their interests and needs. This not only enhances the shopping experience but also encourages higher sales.

Finally, spread brand awareness by sharing your understanding of customer values in your marketing. Use social media, email newsletter and in-store promotions to communicate how your products align with their values. This builds strong connection with your customers and fosters loyalty.

By identifying your customers and their values, you can better predict their spending habits and make strategic decisions that drive sales and enhance your brands reputation!

So, if you "think" you know your customer, ask yourself...

🤷🏻‍♀️ How much research and analysis are you doing to find out what your customers want and can afford?

🤔 How often are you making assumptions about their desires instead of conducting data-backed customer surveys?

🫶🏼 Stock the brands consumers trust and are familiar with!

👀 Provide curated content that combats choice fatigue i.e. show your customer products that speak to their desires and help them in some way!

🎁 Tailor reward programs and promote gift-giving that suit customers lifestyles

♻️ Report on your social and environmental initiatives