Find out How to Succeed Big with Market Research
Your customers’ needs and expectations may be changing, and the only way to find out exactly what they are is to ask your customers. An independent research project gives you all the answers to guide you clearly toward increases in your revenues. Here are some areas that would be helpful to explore.
What’s most important to your customers?
It’s easy to forget why your customers are interested in your products and services, because it’s so obvious to you. You need to remind them always that you are providing the things that are most important to them when they are looking to purchase what you offer.
When you need a part, for example, price is probably not the most important consideration. Delivery is what you care about, so quick delivery is always the selling point for parts.
Some people will argue, though, that it will always come down to the price. That’s true for some buyers, but it’s usually a very limited group; the average group of price buyers is around 20% in most types of products and services. Those buyers will always shop for the best price, so it’s a tough group to appeal to. But 80% of the market is looking for attributes that are most important to them. What are they?
We’ll ask respondents to rate a series of attributes, then have them hone down their list of the most important ones to a handful. Then, we can have them provide their opinion of which in that smaller group are most critical to them, and compare them to each other. The result is that we have a very narrow group of attributes that your customers care most about when considering where and what they will purchase.
What offers will they respond to?
Easy! We’ll just ask, and in our experience they actually do respond to exactly what they said they would.
What type of communications do they react to?
Again, we’ll ask, and they will tell us. Imagine knowing in advance that a particular type of communication truly is the best way to maximize your sales.
Prepare your strategy
With the information from the research, you can lay out a strategy that you know will be successful. Your customers and prospects have told you what is important to them, what they will respond to, and how you need to reach them.
When you’re ready for easy, just call Winsby, and we’ll walk you through the steps toward success!