If only your consumers were more like the Spice Girls – ready and eager to tell you what they want, what they really, really want. They might not make it easy for you, but finding out what motivates your customer is key to the success of your business.
Say Goodbye to The Hit and Miss Approach
Too many companies try to identify what their customers want by tendering a variety of products and services. They wait and see what sells and what doesn’t, using this as a gauge to determine what they should offer.
For instance, Alexis Accessories might start out by selling gold bracelets, then introduce hair bows. The bracelets sell well but the bows don’t, so the company exchange bows for a new range of sunglasses.
This hit and miss approach isn’t ideal. Alexis Accessories isn’t proactively identifying what motivates their customers. Instead, they are merely testing out their manual research, marketing methods and their chosen products/services.
Surely, it’s better to pre-empt what the consumer wants and give it to them straight away – in this case sunglasses and not hair bows. But how do we find out this key information? How do we keep abreast of what the customer really wants right now?
The Danger of Stagnant Market Research
Market research works, but only if the data is fresh, up to date and relevant. The one-off customer survey you commissioned in March will only tell you what the customer is looking for at that particular time.
By April your target market might be looking for something else, and by October the customer base might have changed completely. Of course, you won’t know that if you only have insights from March to rely on.
Working with stagnant market research data is unproductive and there’s a good chance any decisions you make from the information will be flawed. This reflexive way of working can lose you customers, sales and profit.
A Better Approach - Connect, Understand, Act with Qualitative AI
Thankfully there is a better way. Conducting proper qualitative market research utilizing an AI platform will put your company ahead of the game. You can connect with your market via email, social media, messaging etc and stay with them throughout the customer journey.
By continually asking straightforward, open-ended, contextual questions you can obtain responses that will classify consumer motivations and desires without boxing them into your own hypotheses. Dynamic and regular answers, not just insights, will allow you to tailor your actions to meet the needs of you customer. Finally getting your answers to your “why” questions.
Artificial intelligence helps you uncover what consumers want on an ongoing basis, which allows you to offer the products and services they really want in a timely manner. You can also launch new incentives and schemes they will care about and create powerful marketing messages designed to boost ROI and improve customer satisfaction levels.
Powerful Results from Beehive AI
A proactive approach is essential in the quest to understand and connect with consumers. Qualitative Intelligence (QI) platform Beehive AI provides a winning combination of Artificial Intelligence (AI) teamed with iterative learning.
Beehive AI will provide insights to define your target market and tell you what your customer really, really wants right now. It’s time to optimize your market strategy, boost conversions and increase revenue. Beehive AI is buzzing to help you grow your business and achieve success.
