Customers make purchases when they see something they want
This is one of the most obvious and well-known business principles known to man. Yet, it is amazing how many businesses fail to take this simple statement into consideration when trying to drum up sales.
If you’re just getting started, you need to identify what customers are looking for. Alternatively, if your company’s sales are falling, you need to identify how you can revamp your business and put your brand back on the map.
So how do you do this? Easy — the answer is ‘research’. It is up to you to find out as much as you can to ‘hit the nail on the head’ and provide exactly what customers want, boost your conversion rate, and make sure that you’re always one step ahead.
Using the Internet To Your Advantage
The internet is not just a place to list your business. The internet is an infinite resource of information where you can carry out endless market research. Best of all, you don’t need to be an expert to figure out what you need to know.
Not only can you scope out your competition and see what other similar businesses are doing, but also more importantly, you can check out what customers are saying about certain products and services online.
Find out what people are saying
There are many different ways that you can discover what people are saying online. The easiest of all these ways is to sign up for Google Alerts. Google Alerts monitors specific search terms, and sends you email notifications on your chosen topic directly to your inbox. You’ll be sent coverage across all media forms including blogs and video. As a subscriber, you don’t have to worry about time spent on independent research – the news will come to you.
But don’t stop there – there’s always more to check out. There may be some useful discussions happening under the radar. Search online for community-oriented websites where users can post comments and share ideas and reviews. This is forum crawling – you can find some really valuable information that you’ll want to use when thinking about your next advertising campaign. A good place to start looking is magazine-based websites. For example, if you’re interested to see what people who like kickboxing are saying, check out the forums on International Kickboxer Magazine.
One of the most undervalued resources online is Yahoo Answers. Yahoo Answers is a great way to see the latest questions that people are asking each other. If you are in the business of providing customers with financial planning advice, navigate to the Business & Finance category of the site to discover what people want to know. You can even go one step further and address their questions, answering them on the spot — you may even generate some additional leads!
Ask people what they think
On the other hand, Yahoo Answers is also a great way for your business to do research by posting questions online, such as, “What bothers you the most about…..” “What do you think is the coolest product and why?” or “How would you know where to look for…..?”
Doing this kind of research encourages discussion and helps you identify what consumers think about when purchasing your products. You can also find out what other factors affect your sales. Use these comments to your advantage when figuring out how to market your business.
Another way to compile objective market research is to send out questionnaires. Used by some of the biggest companies in the world, Survey Monkey is an easy (and almost free) way to collect data. Survey Monkey sends out your own customised questionnaires into cyberspace and collects responses for you!
Lastly, there is one crazily obvious and easy way to generate discussion: social media. Twitter is a great way to interact with other enthusiastic professionals online, perfect for those who want to source feedback and get ahead in the business-to-business field. Alternatively, if you have a Facebook account, quiz your own friends by typing out questions in your status update; sometimes finding out what customers really want is as simple as asking your friends and family.
To Conclude
By researching what people are saying online, you can address exactly what your customers want, and develop your products accordingly to meet market demand. Furthermore, you can quash any doubts or concerns that your customers may have about your products by listening to their feedback and providing them with solutions.
This simple but effective idea will increase your conversion rate and drive your sales figures in a positive direction. Best of all, it costs your business practically nothing other than time.
