Knowing Your Customer: The Key to Building a Lasting Brand
Clients often wonder where it all starts.
From what we've seen, brands often forget to begin by listening to their customers because they think they know best. But we strongly believe the customer is always right—they instinctively know what they want, even if they can't always put it into words.
Are you really listening to your customers to understand their needs and preferences better?
Nike faced a similar challenge.
Despite making $12.4 billion in Q3, Nike admitted their growth had stalled because they focused too much on selling directly to consumers through their own channels, like online stores, and didn't pay enough attention to creating new products and understanding what customers wanted. This focus let their competitors catch up and steal some of Nike's customers.
Nike's experience shows how important it is to balance selling directly to consumers with creating new and exciting products that customers love.
This situation resonates with us because it shows a common problem in the industry: brands often don't make their customers the most important part of their plans. We're passionate about changing that.
When you make decisions about your brand, are you thinking more about what's best for your brand or what's best for your customers?
Recently, Anthropologie got a lot of attention by starting to sell clothes that are easier for people with disabilities to wear. This move shows they're focusing more on what their customers need and making sure everyone feels welcome when they shop there.
In today's competitive market, understanding who your customers are is the first step to building a successful brand, whether you're just starting out or have been around for a long time.
Figure out what problem your product or service solves: Start by thinking about what problem your product or service helps people with. For example, if you make tools to help people organize their projects, think about how you can make it easier for teams to work together and talk to each other. Look at what other tools like yours don't have to make your tool better.
Think about who your product helps the most: Once you know what problem your product solves, think about who would get the most out of using it. Think about things like how old they are, what they do for work, and what they like. Think about people like small business owners, freelancers, and other professionals who might have the same problem your product solves. Also, think about how they live their lives and what matters to them, so you can make your product work for them.
Understand what your customers really need: To really get to know your customers, find out what they really need and what problems they have. Talk to them and make a map of their journey with your brand. Find out how they find out about your brand, decide to use your product, and ask for help later on. By watching how they use your product every day, you can find problems that you might not see with just numbers.
Watch how your customers act: Customers don't always do what they say they will. It's important to watch what they do to know what they really like and want. Use tools to see what customers do online and in person—look at what they look at and buy. Pay attention to how they use social media and talk to your company in emails. This will help you see what they like and how they make decisions. This information can help you make your product or service better to meet their needs, which can bring more people to use it.
Understanding your customers—what they need, what they do, and what they like—is very important for making good plans for your business. It will help you make a plan to get the right people to like your product and make them happy with what you offer.
LET'S BUILD TOGETHER
A technology company faced declines in profitability. To counter increasing pressure, we studied customer actions to identify which ones drove lifetime value. With this clear picture of customer behavior, we set a growth strategy reinforcing these actions throughout the customer journey.