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Hitsearch

Defining and understanding customers for enhanced CRM

By now, most businesses know that to create ads that work, they must be tailored to a specific target audience. By understanding your customer base and target audience on a greater level, you can build out better audience segments and map their behaviours.

 

At Hitsearch, we integrate both quantitative and qualitative research methods to understand target audiences for our clients. We believe that quantitative data allows us to get a broad look on consumers and believe that qualitative research methods allow for a more in-depth study of people's actions.


Whilst marketers have largely focused on quantitative data to understand consumer behaviour, we believe that there is data that cannot be found through quantitive research. This data is too precious to ignore. Various other factors influencing consumer purchases such as social, cultural, economic, personal and psychological circumstances play a major role in a customer's journey so must be taken into consideration.

Creating an audience persona allows us to present a richer model of customers and can be used to study different customer types. Demographic data can be used to build buyer profiles covering information like age, gender, occupation, and level of education. Psychographic data is gathered through analysis of consumers’ activities, interests, and opinions. This gives an insight into consumers' lifestyles and patterns of conduct that could affect buying behaviour and the decision-making process.

To create an audience persona and define customers, we ask seven questions:
Defining and Understanding customers for CRM


We also consider 6 metrics that we consider when developing personas. Understanding these metrics help us to tailor our strategy to achieve the highest possible conversions.

Expectation: Lead individuals to interpret later information in a specific way

Motivation: The force that activates goal-orientated behaviour and acts as a driving force that impels an individual to take action to satisfy their needs.

Past Experience: Leads us to interpret later experiences considering what we already know. The consumer uses the input selector to select clues and assign values to them. For example, the cues for quality are typically price, brand name and retailer name.

Beliefs and attitudes: Inform individual's views of the world and subsequently the decisions they make.

Perception: The information entering the brain does not provide a complete view of the world around you and any gaps will be filled in with imagination and experience.

The final goal would be to understand the customer first and subsequently understand the customer in relation to our client’s product to successfully advertise it.

 

TAKEAWAYS

- Quantitative data can show how many people of a certain age, sex or location visit your site, but qualitative data can help to explain why these consumers decided to visit the site.

- Creating an audience persona will help your business to test marketing strategies; simply ask yourself: how would Mrs X respond to this?

- Metrics that help a customer to decide whether to interact with your business are out of your control, but the research you do and the marketing decisions you make based off that information are not.

Want to understand your customers in a greater depth? Ready to level up your business and surpass your competitors? We’re offering a free copy of our latest CEO Report that can be downloaded here.
 

If you have a business in the financial sector and would like to up your marketing game or receive some expert information about digital marketing for financial services, then get in touch with a member of our team!

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