Whilst some businesses are busy refining their marketing strategy, updating their website or rebranding their look, there are another set of businesses who are investing in something more basic, vital and practical…
Understanding how their customer is currently thinking, feeling, reacting and behaving.
On 4th May 2020, the Australian Bureau of Statistics released a media article ‘Businesses expect ongoing COVID-19 financial impacts’ from their third survey which stated:
“Almost three quarters of Australian businesses (72%) reported that reduced cash flow is expected to have an adverse impact on business over the next two months”
You need to know these stats, but they can’t tell you what is going on in the lives behind closed doors of your customers. They are just a guide.
We know from the past that ‘Data is King’. Information about our customers is KEY to developing our marketing strategy, to map out the customer journey.
Small businesses have invested in many tools from CRM systems, to pixels, to software providing algorithms all designed to tell us the information we need to know to try and get out marketing message correct so that our customer would buy.
But trial and error are not only an expensive exercise, through beta testing Facebook ads, Google Adwords or investing in SEO it also takes precious time we don’t have.
Those who have lost their jobs are starting new freelancer businesses and flooding it with cheaper pricing.
When COVID 19 hit, these businesses realised they needed to try something different.
Something more targeted that would not just unveil the information but the emotions that data just cannot convey. The stories, the scenarios that impact buyer psychology and consumer behaviour.
They simply didn’t have the money nor the time for trial and error. They needed to know what their customers were thinking and feeling and what they wanted from their brand.
These businesses went back to basics and invested in ‘Connector’ businesses that could help them discover consumer insights that is more intensive than market research.
Connectors have people skills to engage and gain trust through real conversations, were engaged who were able to provide customer insights into what their customers wanted, what they needed and how they wanted it to be delivered.
Understanding core needs of your customer gives you vital insights as to what to do next.
Information, connection, comfort and escapism are dominating the behaviour of Australian consumers as they strive to get through the COVID-19 crisis according to a study by Spark Foundry.
You have one shot at gaining your consumer trust in coming months to get this right.
I have a 90-day Quick Start Intensive package that will help you find the information and consumer insight to determine whatever you are thinking of doing next will work.
The 90-day package will deliver:
Please email me email@example.com for more information and a confidential discussion in relation to your new business idea.