Why Knowing Your Clients Characteristics is Important
Understanding your customers–their similarities, their differences–is one of the most fundamental and important steps in quantifying the customer’s relationship with your product and company. Not only does it tell you how to better serve current customer demographics, it also allows you to discover unmet needs and deliver better products and services to new groups of people.
For example: When using a CRM (database) tool you could filter on zip codes or cities to find out exactly where your clients are located and focus your marketing efforts on these outcomes.
Here are some valuable things you can do with different client-base analysis:
- Identify the most and least profitable customers
- Better focus marketing efforts
- Improve customer service
- Build loyal relationships
- Price products differently
- Develop better products