5 Ways to Identify Your Customers

Understanding your customers and providing them with what they need is the most important part of a successful business. For any service or product, customers are presented with multiple options. So convincing them to use your service or product is not easy. In this week’s article, we will outline a stepwise guide to strategically identify your customers and understand them.

The first step is to create a list of 5 competitors who are doing well in your market. Then start analysing them on the basis of their marketing strategy, persona in the current market, sales process and market authority. Based on these details, create a list of activities that may help you grow your market potential.

Based on competitor analysis, it is important to analyse your market positioning and understand your key strengths and weaknesses. Once you understand where you stand, there is some key recurring activity – review your Google Analytics weekly, review your MOZ reports weekly, review your marketing data weekly (use tools such as Infusionsoft for marketing automation), review your sales report with source detail (use tools such as ZOHO Invoice) and analyse your goals and conversion in google analytics. From all these reports, one thing that you will be able to gather by doing all these activities is to understand the activities that are working. It is recommended you use a Customer relationship management system such as Salesforce or Infusionsoft to understand your funnelling.

Using these tools, you will have data such as the demographics of the users(age, gender, location etc.), the nature of purchase with the user journey and the impact of marketing automation and remarketing. You should draw a workflow for each unique audience and create an attraction strategy for these customers.

The survey may be boring these days but get answers below question from your existing and future customers. You can use the below guide produced by HubSpot.

Now that you have enough data about yourself and your competitor, you should get engaged with a marketing guru and get them to analyse your data. Your marketing guru should provide you with insight into activities that you may have overlooked. It’s generally better to try up to 3 marketing gurus, one in-house, one in your location and one overseas with a similar business structure.

You have enough data in your table to succeed. However, only half of the work is done. All the hard work that we perform in analysing the business is worthless if we don’t set goals and create short-term and long-term benchmarks. Create a benchmarking report based on your attraction strategy and link it to your CRM to forecast your progress. Remember, things will change quickly so never stop analysing your data. Use as less tools as possible – our recommendation is to use Hubspot or Infusionsoft.