Know Thy Customer

How well do you know your customers?
 
To attract potential target customer and maintain your current customer base, it's essential for small business owners to know their customers - better than they know themselves. Large companies spend enormous amounts of capital and resources to gather data on their customers including names, gender, age, income, jobs, education, family status, hobbies, likes, dislikes, and more.  If there is one thing small companies can, and should, do like the big guys, it’s getting to know their customers – inside and out.
 
But understanding our customers is only half the battle.  The second part is to deliver what the customers want.  This is a key driver in the success of any business, and once successful it will be mutually beneficial for both parties – the customer and the company.  Here are a few tips for getting to know your customers that go beyond standard demographics.
 

1. Know what channels customers prefer for your small business’s product or service.  In other words, how do customers you get your product or service into the customer’s hands.  Do you sell or market through an intermediary, or directly to the customer.  Which is more convenient for the customer?
   
2. Explore social analytics to get a feel for how customers interact with your brand, and at times take the extra step and reach out directly to your customers and ask them their opinions.  Doing so can increase your small business’s customer lifecycle.
   
3. Know what motivates your customers to purchase your product or service, and act accordingly when the time is right.  Don’t wait for them to come to you.  Being proactive in your approach shows superior customer service practices.
   

 
Do not assume that what has worked in the past will work in the future, taking the approach of “if it’s not broke, don’t try to fix it.”  To be creative and innovative, it requires small business owners to step away from their comfort zone and explore new and exciting approaches to customer relationships.  So get to know your customers well and they’ll come back again and again.