How do I find out more about my customers?

Successful marketing needs you to know and understand who your potential customers are. When you’re planning don’t just look at the business you do today, but what you could do in the future with both new and existing customers. You may need to do some research on your existing customers. This can be as simple as asking them what they like and why they buy from you and if there is anything that would make them buy more from you. You can do this by phone or face-to-face. Make sure you accurately record honest opinions, and refresh your study regularly.
More structured surveys can be useful.

Web-based research tools can help you do quick polls of your customers. The Market Research Society (www.mrs.co.uk) can provide advice. Don’t just look for good news though, fixing common customer complaints could increase sales and result in attracting new customers through recommendations.

Find out who your best customers are – could you get more business from them? It generally costs ten times more to recruit a new customer then keeping an existing one, so don’t forget about them. When you prove to your customers that you know them and acknowledge the value of their business, you are more likely to inspire them to come back and recommend you.
 

Think about who you want to target. For example, you could focus your marketing on your biggest customers to keep them loyal, but do they have any more business to give you? In this case, marketing to groups that haven’t yet heard about your business could be more effective. Deciding this will be a key part of your marketing plan.

Use what you learn about your current customers to understand common characteristics that’ll help you identify new ones. If, for example, you are considering increasing sales by expanding your product range, check out what your competitors sell. Would you be the only business offering this service or product in the area – could you open up a whole new range of customers? If not, what will make you different and help you compete effectively?
 

When you prove to your customers that you know them and their business value, you are more likely to inspire them to come back. You can also reward their custom by devising special offers and loyalty schemes. Remember, customer loyalty is as much about your loyalty to them, as their loyalty to you.

A Barclays Business Manager can introduce you to a local Marketing expert for a free marketing consultation to help you develop a plan on how you can get to know your customers. The Finding and Keeping Customers training package from our online e-learning programme with Mindleaders includes courses and videos to help you make the most of opportunities.