Knowing your customer should be your top priority. You waste time and money when you cannot pinpoint who you customers actually are. If you don’t know who your target audience is, how can you reach them effectively? How do you know how much they are willing to pay for your product? What do they think about your product and your industry overall? What would enhance their loyalty and referral rates?
Use research that is already out there. There is a lot of free research that is already out there. Simply start with census.gov to understand your industry’s basic demographics. Many times your local library may have access to business databases that you can utilize. Also, you can learn more about what your customers and prospects are saying by simply using keyword searches on Facebook and Twitter.
Seek consultancies that conduct secondary research if you need more information about your target audience. Agencies, like Provoke Insights, have extensive access to secondary databases. They are able to digest and analyze several sources quickly to help answer your questions about your customers.
If your questions are not available from existing sources, primary research can be conducted. While more costly, a company can utilize this method to identify specific questions they may want to ask about their customers. Primary research allows you to learn very specific information about the customer such as demographics, psychographics, behaviors, and opinions of certain products or services. It is also a great tool for testing marketing initiatives before prospects.
Use your website analytics. Finally, besides the traditional research methods of learning about your audiences, there is so much that can be done with analytics to get a good grasp on your customers. With website analytics, you can monitor where, when, and who visits the site. Once you analyze and understand your website visitors more, you can learn to engage with them in ways that resonate.