Posts Tagged ‘Market Research’

What are your customers thinking?

Friday, November 4th, 2011

Do you know what your customers are thinking? Do you know what really matters to them? You should find out! It will make your marketing more effective and efficient.

Sometimes what your customers think and value might surprise you. I had a conversation with a contractor who learned by accident that his customers preferred slightly rusty service vans to pristine, freshly-painted ones. He had purchased a fleet of used vehicles, but unexpectedly needed to put them in the field before he could get them painted. Many of his customers (most of whom were selling their homes, so didn’t want to invest too much capital in the improvements) mentioned they preferred a less expensive contractor who didn’t spend thousands on the appearance of his vans. They believed “the savings were passed on to them,” so to speak. Now, the contractor doesn’t worry so much about keeping the paint jobs up-to-date.

A large part of marketing is learning what matters to your customer through research. How will you know what to say to them in marketing communications unless you know what they believe?

Getting started with research can be as simple as asking a few customers for their opinions, but to get the most value out of research, it’s best to engage a marketing firm. Customers are more likely to give their honest opinions to a third-party, and a marketing firm will have methodologies for getting customers to speak freely.

Oh, did I mention Zoo in a Jungle Marketing excels at qualitative market research? We do!

Your employees want to be cross-trained

Friday, September 9th, 2011

How do I know your employees want to be cross-trained?

They’ve told me.

In my work with Yastrow & Company, we do extensive, in-depth employee research, and cross-training is the most universal request we hear. Practically every group of employees, in every industry and every job role tells us, ”I wish I knew what everyone else in the company did everyday. It would help me do my job better if I understood where my coworkers are coming from.”

Restaurants can schedule back-of-house staff to individually work the front of the house for a shift. Companies with IT departments can have IT staff rotate through the various departments they support– and show the other employees the demands of the IT department. A retail store can ask their purchasers to work a few hours on the floor.

Sometimes management gives pushback to the idea of cross-training, and their reluctance is understandable. It’s a cost, and it takes valuable employees away from their work for a time. But the investment in cross-training helps build teams and breaks down barriers across departments. When employees understand what their coworkers do in the course of their jobs, they will be more helpful to requests. Asking back-of-house employees to work with customers for a day will make them realize the importance of the customer experience.

Offer some cross-training. I guarantee your employees will find it valuable, and it will help unify your business.

Know Your Customer

Friday, July 8th, 2011

An effective marketing team knows their customers. They know where to spend their marketing dollars to get the most effect and what messages will resonate with different groups. This customized marketing approach yields a valuable return-on-investment.

However, a one-size-fits-all approach to marketing guarantees marketers will spend more money for less effective results. When they don’t know their customers and their preferences, they must send a variety of messages using many different media.

Yet, many businesses don’t put much effort into learning about their customers.

Below are three examples of differences in customer behavior. You can see how different marketing strategies could be taken to meet their preferences and needs.

  • If your customers are primarily women, you need to know they behave differently from men. Marketing to women expert Marti Barletta writes about consumer behavior frequently, but in one particular post, “Guaranteeing Sales Success with Women,” she emphasizes that women are risk-averse and value warranties and guarantees more than men do.
  • If your customers are young, from 18-33, 80-89% of them can be found on social networking sites. But of those 74 or older who use the Internet, only 10-19% engage in social networking sites. This information is from Pew Internet.
  • If your customers are older and affluent, they might be choosing an urban lifestyle rather than a retirement community. Boston Consulting Group’s Michael Silverstein reports on his firm’s research that these consumers enjoy cooking at home and increasingly have more time to learn new hobbies.

How well do you know your customers? How many of them are women? What age groups buy from you the most? What are their incomes? Being able to answer these questions will help you customize your marketing plan with strategies that will reach your customers without wasting time and money on people who won’t buy from you.

Making Change Simple

Friday, May 21st, 2010

Keeping your small business marketing approach current with your customers

You know that the marketplace changes rapidly, and you have to change your business model with it. But how do you know which changes to make? It’s simple. Ask your customers.

In this small business marketing podcast, I discuss changing business strategy with David Weatherholt and Russell Ball. Russell successfully changed his marketing approach- and company name- to fit the needs of his marketplace. I detail how all small businesses can keep their fingers to the pulse of the marketplace by conducting simple, thorough research with their customers.

Listen or download below:

Small Business Marketing Research

Download the small business marketing research MP3 file here. (12.8MB)