A surprising number of companies aren’t aware of their average customers. They launch their business, think about the type of person that will be interested in their products, and then assume this is the person that buys them. For one year, five years, ten years, and beyond. What if the people who are actually engaging with your brand are different from what you expect? Or different from many years ago?

Ever wondered why some companies are like “Who is our average customer?” It’s like a real-life mystery, with possible explanations that’ll leave you scratching your head. Here are a few:

• Lack of market research: Too many companies overlook the importance of truly knowing their audience. It’s like relying on assumptions from the Dark Ages – not the best strategy, is it? Time to step up your game and invest in understanding your target audience. You could still be working with data that was collected way before COVID.
  
• Failure to adapt to changing demographics: We all know that people’s needs change – just think of your own needs. A product that used to “wow” the average customer five years ago might now be as relevant as a flip phone in a smartphone world (although they’re coming back right now!).
  
• Inability to keep up with the competition: If your competitors are always one step ahead, evolving and adapting to changing consumer preferences, they probably know your average customer better than you do. Time to catch up, friend. You might have some good data but you’ll always live in the shadows of every other company (sorry!).
  
• Not utilizing customer data effectively: We don’t need to tell you that data is everywhere these days. It’s everywhere you look. It’s like trying to catch a cup of water under the Niagara Falls. Not all companies are data wizards or know how to unleash its power. This can lead to a puzzling lack of insight into the average customer and their preferences.

The truth is that every company needs to understand its customers because it lays at the core of everything you do. From product creation to social media posts to everything else. Lack this knowledge, and you’ll squander resources on futile marketing tactics, missing out on a whole bunch of eager customers.

One way for companies to gain a better understanding of their average customer is by conducting thorough market research. Market research: the art of gathering data through surveys, interviews, and other sneaky tactics to uncover the secrets of your customers’ demographics, behaviors, needs, and preferences. Stay one step ahead by constantly spying on your target audience’s ever-changing desires. You’ll be glad to hear that it’s easier than ever to stay up to date with this knowledge because of the available data. Feel free to utilize the skills of King Kong marketing agency to get started.

Moreover, companies should tap into the treasure trove of customer data available to them through channels like website analytics, social media insights, and sales data. This data holds the key to unlocking valuable insights into customer preferences and behaviors, empowering companies to craft strategies that hit the bullseye. Sit down, grab a notebook, and look at some data. It’s only when you sit down and actively consider the data that you really start to learn about your business.

Good luck – go and smash 2024!