As an entrepreneur your focus is on growing your business, and part of this strategy should be tracking customer trends. By using your accessible customer data you have the potential to highlight business opportunities, anticipate potential risks and gain a competitive advantage. LEAP investigates seven customer trends for the year ahead.
Do your customers shop on impulse? Do they thoroughly research offers? Are they regular shoppers? By analysing the habits of your customers you gain better insights into their spending patterns and this will help you choose the most suitable way of marketing and promoting your products and services.
Customers are becoming increasingly concerned about social and environmental factors and these will impact their buying decisions. These customers will choose to buy, or be associated with, socially responsible businesses over companies that use irresponsible practices.
A business usually engages with their customers on several different types of communication platforms. By monitoring these methods, along with the transaction history of your customer, you should be able to see which type of marketing is the most effective for that customer.
Mobile commerce is growing at a rapid rate and customers are anticipating being able to search, buy and communicate with companies through a mobile device. Mobile apps are becoming a prerequisite for businesses and websites need to be mobile responsive to accommodate modern customers.
THE RIGHT CONTENT
Build a relationship based on trust, by providing your new and prospective customers with the right information. It needs to be engaging, effective, current, and above all – useful. By having original, quality content your search engine results are also rewarded with higher rankings.
As mobile usage continues to expand, so too does the demand for video content. It gives customers insight into what your products or services can actually do. This is a powerful tool for business owners as it makes your business more innovative, and when done well it’s usually quite memorable.
Geo-targeting allows you to provide customers, who are within in a certain radius, with real-time, local information that they can use. This is an effective method of reaching your target audience based on data such as their location, mood and the time of day.
We live in an exciting, changing, dynamic and competitive world, where staying relevant is more important than ever. So, by incorporating applicable trends into your business strategy, you stay a step ahead of your competition, create opportunities for growth, maintain customer loyalty, and keep your business innovative and visible.