Acknowledging changes in consumer behaviour is a reality for retailers. Therefore, retailers need to know their consumers to understand their changes in behaviour. We know consumer behaviour is changing and adapting alongside the digital age. They are moving away from seasonal buying, making more informed decisions and finding value for their money. As a result we looked at these changes in our article on ‘5 ways consumer behaviour is changing’.
Whether the cause is due to convenience or inconvenience, knowing what is driving the changes helps to predict the next ones.
Here’s some helpful tips on how to get to know them better:
Talking is key!
Inside retail named talking to consumers, unsurprisingly, as its number one method for getting to know consumers better. Inside retail stated that “there’s no substitute for talking to consumers, preferably physically when they are shopping, in focus groups or through social media sites and survey platforms”. Listening to a consumer’s opinions and needs helps build a knowledge base of what they like and what they don’t. This is extremely valuable and can help shape your platforms and promotions to them.
Don’t ignore social feedback
Social media provides consumers with a platform to express their opinions. These opinions count, because they are valid opinions from consumers. If consumers are voicing the same opinions, the problem needs to be fixed. Having the opportunity to see and hear these opinions through social media is valuable to retailers, and taken action from them can lead to happier consumers.
Business news daily reported on how to get to know your consumers, they stated that “when searching for insights, it never hurts to ask consumers. Most will readily give feedback so long as they give something in return.” Utilising any information from social media to create surveys for consumers is a great way to see exactly what they are thinking.
A day in their shoes
Take a step back from the business and take a look at what your consumers choices are. Inc.com’s article on understanding consumers looked into why stepping into a consumer’s world helps retailers learn. By standing in a consumer’s shoes, you can help deepen your understanding of your consumers and your competitors, helping to better anticipate both of their next moves.
Implicit Data
Amazon and Netflix know what their consumers want, before the consumer knows themselves. It’s not magic, it’s implicit data! Data accrued from observing consumer behaviour is called Implicit Data. This is instead of explicit data, which asks them what they like. Responses from consumers don’t always show the bigger picture, but their actions do. Looking for unfiltered feedback is what will give businesses a true depiction of a consumer’s opinion on the business. You don’t need a big budget for this, you can use an array of tools like Usertesting.com and Kissmetrics.
