SEVEN (7) BIGGEST LESSONS LEARNED FROM CUSTOMERS
In marketing, customers play greater role in purchasing of goods and services. You need to understand your target market, what they think of your business and your product or service. Your target market may be one or more market segments or sub-sets of your market, made up of people or organizations sharing one or more characteristics that cause them to demand similar . Here are some biggest lessons learnt from customers.
Every customer sees himself as the only customer and expects to receive , on-demand & priority services. Customers continually expect frontline reps to break policies, to prioritize their needs over those of other customers, and to essentially do whatever they ask because they see themselves as kings — Nārada Muni
A customer has more options than ever. This trend has prompted most companies to switch from being product centric to customer oriented. Thus, it is becoming more essential for the companies to communicate directly with their customers and to understand their every requirement. This is to retain and maintain their customer despite the costs. As they interact with their customers, they gradually realize that above everything, customers should be regarded.
The most ancient and, perhaps, still the most efficient kind of marketing is word-of-mouth. Customers in many ways task themselves with voicing their concerns and wants to their sellers and when such are considered, they advocate or recommend seller’s products and services to others. They’re ready to talk to anyone about a good or bad experience. Customers are 3times more likely to recommend a brand after they’ve had a positive interaction with them.
“Customers in today’s era are much more in control of their shopping experience, and they know they can dictate the shopping experience that they want” Gayatri Patel, eBay’s Director of Global Data infrastructure. They have the means to explore, research and share every purchase decision. And they can do it in a very quick way. If you lose them, it may not be just for that purchase. It may be for a long time. You have to be responsive to their needs immediately instead of trying to direct them. That balancing act is the biggest challenge.
Value purchasing is about prospects looking past the price tags and seeing what products and services are truly worth to them as individuals. Instead of focusing on the product, and what it costs, they look at what it does, and how they can use it. Once customers can envision themselves directly benefitting from a product, the price becomes related to the usefulness of the product, instead of just the value of the materials that it’s made from. This bridges the gap between what something is worth on the shelf, and what its worth in the hands of the consumer. After a prospect realizes that the value of a product isn’t what they put into it, but what they get out of it, it’s much easier to quit purchase.
Many customers see themselves as changing the world for the positive. This "self-image" can also drive buying behavior. For instance, for a company who has zero-carbon emission facility/es. They'll be interested in extending their "green" footprint and publicizing their eco-friendly stance. Here, customers help them do that by showing strong interest in patronizing their products and services.
They look at products they’re interested in across multiple channels and devices, and it’s likely any brand-owned channels are the last place they look. In this sense, a customer is seen to be professional when he or she obeys the rules of buying and selling. They are usually strong in negotiating on prices with sellers and most importantly, their predictions are usually strong. They respect and abide under the laws of demand and supply. For instance, customers choose to purchase substitutes of goods or products with lower prices. Moreover, they purchase more of a particular product(s) knowing the future expectation of increasing prices.