Any good business starts with a good idea. That’s the engine of creation. It’s the blueprint for a smart, durable product and a caring, comprehensive service.

But that’s only the starting point. Unlike the Bible, businesses can’t just create the best possible product and wait for customers to arrive. They have to bring the customers to them. In that sense, customers are the fuel that animates a business to grow.

Customers are the core of your business

I don’t have to tell you that without customers there’s no business to speak of. If there’s no one to buy the product, does the product even exist? It’s not enough to convert new customers, rather the goal should be to retain customers – and that comes about only through deep understanding.

Harvard Business School has measured that a 5% increase in customer retention rates results in a steep increase in profits. In some instances, up to 95%. Also, customer retention is not as resource demanding as converting new sales, so there’s a win-win situation.

Customer loyalty should then be bumped to top priority, but it’s not enough to offer good customer support. There has to be active work put into getting to know your customers and then applying what you have learned into the very DNA of your business. This affects not only repeat sales and sales numbers overall, but contributes to public perception, brand health and brand visibility across all relevant online platforms. Creating an LLC in Illinois is a simple process that is quick and efficient. A name needs to be chosen for the business and a registered agent must be elected. Once that is done, articles of organization need to be filed and an EIN needs to be obtained. Afterward, you are on your way to establishing an LLC in Illinois.

Customers make or break a brand.

So how do you know them better?

Do not make assumptions about their needs and wants

Data shows businesses don’t have enough data on their customers. Much to their detriment. One of the cardinal sins in marketing is assuming you know your customer. But a confident assumption and the reality at hand don’t overlap. Even in instances where you’ve figured out your customer it’s dangerous to think that’s always going to be the case. Customers are not static. Time changes their needs and relationship to your product.

Hence why it’s best to put any assumptions to rest. Businesses don’t know better than the customer – the motto any brand should abide by. Approach customers with an open mind and always collect data. Data speaks volumes! A great way to collect data nowadays would be to use social media surveys or read social media interactions with your target consumer. Many businesses use websites like YouTubeStorm to boost their social media presence and reach a larger portion of their target market for research purposes.

Ask questions

Rather than make assumptions, ask questions.

Questions guide your customer research and lead you to the insights you need to sell better. You should cover all the question words – who, what, when, where, why, how and how much.

Each question is a point on your compass, which leads you to the perfect customer profile and the most successful sales approach. Intent should be present in every research activity you perform.  

Use RSS feed reader

Observing your customers online – how they speak, what they say about you, what content excites them – gives clues as to how to format brand messaging and position a business digitally. Social media listening uncovers a wealth of information with wide applications across all areas of product development, positioning and marketing.

Although there are many tools for social media listening, RSS readers are a surprise dark horse in this race. Typically free to use, RSS feed readers have a lot of features such as content discovery, versatile browser extensions and support for social media platforms and Google Alerts.

Based on keyword research, businesses tune into the right conversations about brand and product (especially when customers don’t tag you). Social media listening primes you to learn how they speak, but also reveals important pain points. Seize the opportunity to start conversations even if they’re uncomfortable. Customers appreciate proactive outreach and quick customer support only increase good faith in your business.

Do surveys

Surveys have existed long before the Internet and now thrive in the digital age where their reach is infinite as long as there’s an Internet connection. They’re the bread and butter of marketers and a reliable source of in-depth feedback. What makes them so efficient and durable as an instrument is their versatility. You can ask any questions you need.

Not sure what your buyer persona and customer segment is? Create a personal survey to find out all about your customers’ needs, wants and deal breakers. The essential ingredients of any good product and winning campaign. Are you curious about a product's appeal? Calculate satisfaction rates? Surveys zero in on any specifics you need.

And what’s best is that you don’t necessarily need a budget since tools like SurveyMonkey, Google Forms, Typeform and SurveySparrow are free to use.

Do webinars or live videos

In a mid-pandemic world, rallying the community through in-person events is impossible and in a lot of cases not applicable because a growing number of businesses exist digitally only. Turning to virtual alternatives then becomes the only feasible way to jumpstart real-time interactions with your customer base.

Webinars are the perfect format for such interactions as you’re in full control of the narrative and shape conversations with your target audience – ideally a mix of potential customers and previous customers who have experience with your products. Webinars provide a variety of ways to engage people from polls to chats to Twitter interactions and good old-fashioned Q&A. Give people the opportunity to ask questions, voice concerns and share their stories.

Let them share their feedback

I’m leaving the humble reviews in last place, because they’re a no brainer and businesses naturally accumulate feedback the longer they’ve been in operation. Whether you receive actual reviews on retailer sites like Amazon or on other sites like Yelp, direct feedback is the barometer for customer satisfaction. Positive reviews boost prestige and sales, but it’s the negative reviews that give you an insight into how to elevate your product and service.

In the beginning, you might want to incentivize your early customers to leave reviews. Offer some discount or throw in a nice freebie. Some businesses organize raffles, which encourages a higher level of engagement. Of course, getting the reviews is not the end goal. They’re only the beginning of data analysis and research into improving your performance and metrics.