Day of photography.
I bet all these phrases are striking a cord in your mind right now. It could be a nightmare you are facing in your company, just as it could be a goldmine of opportunity and growth for another. The business landscape we are in right now is so different, dynamic and in a constant flow than what existed barely a decade ago.
Ultimately, the end goal for any company is to meet customer needs. However, more than ever before, creating exceptional customer experiences has become an integral part of satisfying customer needs. The simplistic pick and pay business model that has existed for the past decades has become more of the endpoint of a larger buying process for the modern day consumer.
So since customer experiences counts a lot in satisfying today’s consumer, it is no wonder that this has become one of the biggest pain points faced by companies. The dynamism exhibited by today’s customers has made it less systematic and definite to study their buying habits and choices. Studying consumer behavior has thus become about gathering tons of data, using complex analytic systems to make the data sensible and useable, plus a host of other strategies.
What’s more: You can never get to a finality on the traits of your consumer base. Just when you think you’ve got right the ‘secret sauce’ to keep your customers happy and maintain their loyalty, they soon start expressing new behavior traits that will definitely perplex you.
So what does all this mean for any business?
The answer can be summed up in this one sentence: Never stop learning from the customer and adapting.
It doesn’t matter how ‘informative’ the market research, analytics findings and business forecasts highlight your business environment. If a huge percentage of the information gathered didn’t come from the consumers themselves, then you’re basically working with assumptions and even downright fallacies.
Learning on its own barely solves the problem. Adapting from the lessons learnt is like the uppercut punch in a boxing bout; success will surely start trickling in. This is the happy ‘ending’ to the all the hard work and investment made in studying consumer behavior.
Iterate, pivot, persevere or optimize just as the customers ask of you through their feedback.
Keep checking out our blog as we explore more on the intricate world of the modern day consumer and what it takes to win them to your business.