How to develop customer insights

17 Jul , 2017 Articles

How to develop customer insights

Developing customer insight is one of the biggest ways to optimize your business success. Most companies fail to develop good customer insight which is very crucial if the relationship between the firm and consumers is to survive in the competitive environment. Many other companies offer similar goods and services that you offer, having insight into customers’ wants and needs, can set you apart from the other companies.

However, customer insight is not something that is done and managed overnight; it takes time. But there are some things you can do to develop customer insights to fullest.

  1. Research your customers fully. Finding out about your customers’ behavior is not an easy thing, but you have to find it out. Find out your customers beliefs, behavior, needs, wants, and experiences – that is if it is relevant to your business (if it is not relevant to your business, then you are just researching for fun).  Know everything you can about your customers, and even your competitor’s customers. Always ask yourself “why?”; “why are the customers doing this?” “Why did they go for that instead of this?” Asking yourself why would give you the zeal to research and find out more about your customers.

  1. Always take note of your customers’ business situation. You should have an accurate perception of the financial situation of your clients. Knowing the financial situation of your customers would allow you converse with them swiftly without hassle.
  1. Don’t forget the corporate culture of your client. Customer insight doesn’t only require learning about the customers’ social life and business situation; you should also take note of your customers’ corporate culture – knowing how your customers’ functions internally and how your contacts prefer to interact with others outside the company’s structure.
  1. Always structure your communication according to the customer’s preference. Everyone is different, and it is crucial your business knows that. Some customers like to go with a phone call, while some prefer the email communication. The best thing you can do is to set up a schedule for each of those preferences (for example phone call, email communication). Doing this would open a better line of communication between you and your customers which is beneficial.
  1. Always ask questions. Never take the customers wants or needs for granted. What your customers wanted last year might not be what they want this year. So instead of assuming you know, simply ask your customers some questions.

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