Market Research to Improve Customer Relationship

Market Research to Improve Customer Relationship
May 28, 2014 Kabir Raja

A marketing mantra which every business has followed for decades is that “the customers are always right”. However, the customer relationship has evolved over the ages, the modern marketers go a little further and concentrate on building personal connections with customers. Happy customers are the key for running a business successfully. The customer relationship strategy is a useful model that works well for any businesses.

Here are some effective tips to build up a healthy customer relationship:

Remember that happy customers will only be returning

Most of the renowned market players are of the opinion that strong customer relationship help in their business growth. There is a huge benefit if your customers are satisfied with your services and products. The customers will be satisfied when their needs are met, in fact exceeded. They will refer your business to their friends, families and colleagues. This word of mouth promotion is incredible.

In this age of connectivity, they will speak of your business online. Post positive reviews and give high ratings. This strategy will improve the brand loyalty and business reputation.

Set realistic expectations that you can manage

Most of the time, the marketers think they can excel setting up high expectations and conveying these to clients. However, the customers are most disappointed when they fail to deliver the promised services and meet the set up expectation goals. They will leave the business for good.

Instead of that, it is far better to think something realistic and achievable. The consumer will appreciate if you can achieve your aims and will no doubt be satisfied if you can exceed your promises. Therefore, promise something that you can deliver.

Keep track of the customers

You have to maintain relevant customer information. You may send cards or personal notes to the clients on their special days every year. In this digital era it is not a difficult task to maintain a client database. There are lots of applications that may help you out. Instead of traditional spread sheet, make use of the new applications.

Be proactive to begin a relationship

When you meet a new person, you should think what you can do for him or her? Everybody needs some kind of services or products. Help them to get hold of the products and services they are looking for.

Respond quickly

Customers expect prompt responses of their feedbacks, comments or customer inquiries. It can create a lasting impact if you can provide quick responses to the customers’ queries. Though, it may seem to you as a minor task, a simple real time message conveys how much you care for your clients. At the end of the day such minor details create a major difference in your customer relationship strategies.

It is evident that a better relationship with the customers and prospects will result in business growth. It will take a long time to build a loyal customer data base. However, the customers trust once lost will be hard to regain. In order to build up a permanent relationship with your customers you need to have insights of your target audience. Market research is imperative to understand your customers.

Importance of market research

Research helps to identify economic shifts, customers’ buying habits, demographic, market trends and information on competition. This information is essential for the survival and growth of business. When a business is planning to roll out a new product, the idea of customers’ needs will help them to manufacture something that will be really relevant for the market. The market research is not only effective for product launch, it also helps to:

  • Determine market trends and changes
  • Ascertain new products and services
  • Identify if the customers are satisfied or not
  • If not, what is the reason behind dissatisfied customers
  • Step ahead of your competitors
  • Recognise the trends and alerts for your business
  • Decide which medium is best for your business advertising
  • Introduce new technology in your organisation

Market research is a tool that helps a business to reduce risks and increase profitability. However, in most businesses very little researches are carried out. Actually, they are confused regarding the methods to be followed and its usability. There many professional firms offering market research services. Click here for more information.

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