What Is Customer Analysis?
A customer analysis is a method that points to the target market, discerns their needs, and identifies how the products meet their needs. Through the data gathered from this analysis, your business will become successful in your marketing plan. You will now learn how to increase your sales' growth. There are also other types of analyses you can conduct for the improvement of your business, these are SWOT analysis and competitor analysis.
How to Write an Effective Customer Analysis
In order to have a better product analysis and to gain victory in your business, you need to meet your customers' need. Without your customers, your business will fail. It is important to conduct a simple analysis in order to better your product management and provide your customers with satisfaction. Here are some steps on how to start your business analytics:
Who are your present customers? Gather information about them. You can make use of customer relationship management (CRM), an approach to managing the company's connection with the present and potential customers. Another thing, your target market should be sub-grouped according to their similarities and drives which you call a market segmentation (see target market analysis). You can run an analysis of their demographics which include their race, ethnicity, gender, education, job, income, and civil status. Include the things that interest them, like food or brands or books they prefer to read. You can also study their psychographics which comprises their social class, personality, and motivation. Furthermore, you can investigate their communication preferences like where they want to get information.
2. Customer Buying Criteria
This behavioral or situational analysis focuses on the factors that make customers choose a certain product over other products. These factors are also known as buying criteria, which analyzes why your customers select a product that other products by other competitors. Price, quality, convenience, and prestige are the four factors that customers use to discern rival products.
3. Purchase Process and Patterns
This part of your sample analysis demands an extensive grip on how the customers really decide on purchasing a product. You can make a survey with questions like "What is the reason for purchase?", 'How many products were purchased?", and "How long does it take to decide to purchase?" Focus on questions like how frequent the purchases are made and how much is the amount paid for the product. This approach will help you grasp the habits and patterns of your customers.
4. Discover Your Customers' Needs
If you have information about who your customers are, proceed to their needs. In this way, you will learn what are the things that your customers need in order to serve them better and have your business growth. This includes their personal emotional information, the things that motivate them, are their needs satisfied by your products, and grounds why your customers do not use your product to fulfill their needs. To discover these things, you can use surveys, mailings, and online outreaches, or a needs analysis.
5. Analysis of Your Product
After you have gathered your customers' data, the next thing you'll do is to reflect and make data analysis of your product according to the met needs of your customers. You can start with writing your product's attributes, trace your product's features, the result of your customers together with the product's related convenience, and recount the changes the customers can anticipate from using your product or service.