Does Industrial Market Research Help In attracting Customers?

Listen to your customers:  Before listening to your customers, you should have them. Well, you are living in the era of digitization. You can rope in:

·         Internet marketing (which is quite inexpensive rather than opting for TV commercial or print media)

·         Creating your own web identity and optimizing it as per search engine optimization

·         Email marketing that can let you be in win-win situation if it has marvelous pitching as its follow-up.

·         Business meetings or conferences

·         Virtual reality programs pre-launching your products/ services

Once the starter-ups and veterans have begun noticing the footfall of their customers, they ought to learn how to listen to them. However, dealing with some may sound a bitter experience but patience can bring them ahead of the game. Let’s have a round-up of how can they do that.

·         Short-list frequent customers

·         Bring in front your analytical approach and check out digital analysis of your website.

·         Thoroughly examine their ethnography

·         Run loyalty programs, like offering coupons, discounts and free gifts etc.

·         Go through their compliments and demands while interacting with them directly or digitally.

·         Be regular with checking out their reviews on your commercial social media pages, advertisements.

·         Learn what their feedback tells frequently and add on what more they expect from your services/products.

·         Be in touch with them through emails, newsletters and offerings etc.

All these tricks will become their audience voice. And finally, it’s their successful journey to be a big shot.

Be an innovative performer: It’s all screwed up when customers notice nothing new in a product or service. Consider what market research companies India identified about a bulb manufacturing company. Buyers of CFL will be quite a few in numbers as the invention of LED lights has eaten-up its market. And why it should not be happened? An LED light lives for 5000 hours on an average with the same brightness while the former’s light goes dim. Even, the energy consumption of LED is 50% lesser than CFLs.

The foregone example clearly defines how innovation can take off to lead you in the queue of forerunners. Do your homework pretty well. For it, reading out customers’ mind is essential. Their feedback and reviews can make explain what they want. Thereafter, update and refine your product or service to stay competitive.

Don’t hesitate to drop newsletters and emails for letting them learn how your product/service has been revamped. Give them an extra dose of information as well as benefits that can be theirs if they pick up your product/ service.

Add on your own experience:  Experience teaches something new. Utilizing it can troubleshoot shortcomings. Puzzling! Take an example of a restaurant-owner. His start-up period might have 1 or 5 visitors a day. But their footfall brought down due to breaking of glasses, spilled drinks and lack of cleanliness.