The best way for marketers to avoid not hitting monetary goals is to understand the customers who buy the company’s products and services. Fortunately, the ideas below can improve revenue for any marketer.
Read Product Reviews
This can especially benefit companies that intend to release a product or service similar to what the competition already has on the market. Reading product reviews alerts marketing teams to the features that customers do and don’t like about existing products, which allows them time to prevent the same mistakes. Since people tend to be brutally honest writing product reviews, reading them provides insights they might not otherwise provide to brands voluntarily.
Analyze Patterns of Customer Behavior
Marketing teams would be wise to create a customer profile for everyone who has bought from the company in the past and appears likely to do so in the future. While it’s impossible to predict future actions, studying past behavior can shed more light on the next move the customer might consider. Each time a customer makes a purchase, marketing personnel should update his or her profile with answers to the following questions:
- How long has it been between visits or purchases?
- Does the customer appear to shop with the company more during certain seasons?
- How much does the customer typically spend with each shopping session?
- What has the customer specifically purchased from the company in the past?
The purpose of completing this exercise is not to be intrusive towards customers. Instead, it gives marketers a better idea of how to create personalized offers and target them to the customer in the future.
Use Chatbots to Determine Each Customer’s Personal Preferences
Tracking customers across their buying journey is vitally important for marketing teams. However, it doesn’t go quite far enough. The best way to find out what customers want is to ask them and using a chatbot is one of the most convenient ways to do that. While people tend to ignore website forms that seek to learn more about them, many are willing to provide the same information to a chatbot.
Chatbots allow for conversations with people in real time. As a new visitor lands on the website, the chatbot should greet him or her and offer assistance right away. If the customer doesn’t need any help, programming the chatbot to ask questions such as where they work, their spending budget, and how they prefer brands to contact them are all useful. They allow marketers to fine-tune customer personas as well as better personalize future correspondence and offers.
Form Strategic Partnerships for Increased Customer Satisfaction
The term strategic partnership refers to two or more companies that work together to serve the same customer. To make this work, the partner organization should not be a close competitor. Each partner benefits from the resources of the other and can combine their marketing efforts as well. A good example is a bank with a partnership with a financial planning company. Each can refer clients to one another and potentially receive commission based on their partnership agreement.
While these represent only four ways to get to know customers better, the possibilities are truly endless. It only requires the willingness to do whatever it takes to provide customers with memorable experiences.