Using Customer Data To Reveal Your Target Market

By May 20, 2016Marketing

target-market

To connect with your ideal customer avatar, your target market, you need to become a detective. By this I mean you have to start collecting data on their behaviours and interactions with your business. Once you have this customer data you then set about analysing and testing to better understand the shortest route to connect with them.

To engage with your ideal customer start with a commitment to getting to know them better than they know themselves. This attitude will put you at a distinct advantage compared to your competitors. I have outlined some of the more critical customer data that you can collect and benefit from in the following sections.

1. Customer Points Of Difference

Most businesses have several different customer types they deal with. Identifying these differences and separating your customers into distinct segments means you can develop your messaging more precisely to match their needs. They may live in different locations or have seasonal buying habits that call for different approaches to how you promote, and when.

For example; One of your customer segments may have interests that consist of high end fashion, luxury cars, the best restaurants and holidays. Another segment (and price point) could enjoy cheaper getaways, fishing and off road vehicles. Obviously each of these segments would have different “watering holes” and associations.

You can see how an offer and price point that may be of interest to one, would fall on deaf ears with another. So, gather data on each of the differences and use it in your marketing.

2. Website Behavior

Every day your potential customers are visiting your website. This may be their first contact with you and your offerings. Gathering and analysing data that is created by your visitors real time behaviours is time well spent. From this analysis you can begin to answer questions like:

⦁    What pages/posts did they visit?
⦁    How long did they stay on the site?
⦁    Where in your website did they exit?
⦁    How many pages did they look at?
⦁    How many of them “bounced”?
⦁    What content did they share?

To gather all the above data you would need to have implemented Google Analytics or a similar service to capture the actions of your web visitors. If you are not currently doing this – I recommend you do.

3. Your Current Customer Records

What are your existing customers buying? How often do they buy and why? What does an ideal client look like on paper? You can review your customer database and identify which customers are buying the most, paying you on time, appreciating your services and referring you new business. An ideal customer is also good to work with and communicates honestly.

They’re in there! Just jot down the common traits of your best customer and use that to sift them out of the database. Once you have done this concentrate on winning more of them.

4. Where Are Your New Customers Coming From?

A simple way to understand where your new business comes from is to ask the question, “where did you hear about us?” Keep a spreadsheet, whyteboard or CRM record on what channels your new leads and customers come from. Knowing this information allows you to allocate more resources to your high impact promotional efforts for a better return on investment.

Some customers will not have a clear idea of where they heard about you, but typically you will find they mention:

⦁    Your website
⦁    Local directory listing
⦁    Recommendation from an existing customer
⦁    Your newsletter
⦁    Your promotional flyer
⦁    Referral from a colleague
⦁    Heard you present at a seminar/webinar
⦁    They discovered you on social media

5. Your Target Market & Social Media

If your business has a presence on social media, then leveraging these powerful platforms is a must. There is no better data mine than Facebook. One strategy to use is to upload your customer email list to Facebook and create a custom audience, within the Facebook ads function. You can run short ads to your target market and boosted posts that will be displayed to people with similar profiles to your existing ideal customers.

Now, that’s what you call targeted marketing. You can also post surveys and ask questions within your timeline that engage your followers to glean valuable preference data.

The main take away from this post is – get to know what your ideal customers look like, and you’ll know how to get more of them!

Share

Join the discussion One Comment