Customer insights are key. Know your customers and prospects and you know what they need, the best way to reach them, and how to craft an effective message. Start with demographic and geographic data then add psychographic information to understand what your customers are really passionate about. Taken together, these insights can tell you who are most likely to be your best customers and what motivates them to buy.

Things to Consider About Your Customers

• Geographics. Do most of your customers come from a certain radius around your location (hyperlocal market), do they come from a larger area (local/regional/national/global), and/or does their location not matter (vertical market) ?
• Demographics. What are the demographics of your customers or prospects?
  • Age
  • Gender
  • Income Level
  • Children at Home
  • Profession
• Psychographics. What are your customers and prospects interested in? What do they value most?
  • Lifestyle Interests
  • Support of causes and charities
  • Shopping Attitudes
  • Personal Goals
  • What motivates customers to buy what you sell?
• Shopographics. How much and how often do your most valuable customers buy?
  • Big ticket purchase intentions
  • Big ticket purchase frequency
  • Annual household spending

Why Proper Research is Important:

Even experienced business owners can benefit from customer research. Today’s markets and consumers are constantly changing and insights can help you stay ahead of the game. Ad-ology’s Customer Interest + Attitudes reports include detailed psychographic data to help you identify creative advertising opportunities. Each report includes media usage, lifestyle interests, shopping attitudes and what your customers and prospects are truly passionate about.  Consumer Spending Forecasts feature estimates and analysis of annual consumer spending on your choice of 600+ products/services – down to the zip code level – to help you connect with the top spenders in your market.

Customer Insights Do’s and Don’ts:

• Do research what the ‘typical’ customer base is for your product or service. If yours is different think about why.
• Don’t just rely on your ‘gut.’ You know a lot about your business, but consumers and markets change.
• Do use information you already have – for example how and when people buy – to help understand your customers.
• Do compare the profiles and attitudes of the customers you have with the customers you’d LIKE to have. If they are different, you will need to take a different approach to attract these new customers.
• Don’t rely on a Google search for insights into your prospective customers. Think outside the search box. True insights are rarely available on the free part of the Internet. You also have to figure your competitors have already done the same search, so at best, you’ll have the same knowledge, not an intelligence advantage.
• Do consider the competition. What sets you apart from the other choices your customer have, and how do you better meet their needs?
• Don’t assume that customers in every market are the same. Every market is different in some way and so too are the prospective customers within it to some degree.