2229: How To Uncover Customer Insights For Your Business by Michael Levitt of Breakfast Leadership on Market Research

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[00:01:00] This is Optimal Work Daily. How to uncover customer insights for your business by Michael Levitt of breakfastleadership.com. Your customers are the reason your business is still on its feet. If they stop supporting your business, you are as good as done. However, they cannot continue supporting you if you do not give them what they need or solve a challenge they face. Customer insights help you provide quality service, build a robust and accurate buyer persona, and influence their purchase decisions.

[00:01:31] Keep listening now to learn how to uncover customer insights for your business.

[00:01:35] Number one, use Google Analytics and Search Console. Apart from being a powerful search engine, Google also collects data about internet users that you might find valuable. You can find a host of data on Google Analytics, such as behavioral data that shows you what keywords your target audience is searching for. You can also use demographic data to determine the age bracket, gender, geographic location, and interests your clients might have.

[00:02:01] Number two, conduct customer interviews. Even though customer interviews are not as common as online surveys, they are still an effective way to gather insight into your target audience. Most interviews are done one-on-one, where you send your employees out on the street and ask people questions. You could also do video calls or telephone interviews. Spontaneous interviews are great because the client doesn't have time to think of an elaborate response, meaning it will be more authentic.

[00:02:28] Number three, partner up with other businesses. We live in a digital era where almost everything is intertwined in one large web. It's unlikely that your business will survive on its own without help from other companies. Keep in mind that not every business is a competitor. You could integrate your business operations with another complementary business and share insights about your prospective clients. Partnering with others will give you a different perspective and uncover the information you wouldn't have thought to find.

[00:02:54] Four, track your client's purchase activities. You can quickly determine purchase activities with an e-commerce platform or a CRM that tracks purchases. For instance, you might notice a specific group of individuals within a particular age bracket usually buy skincare products alongside facial cleansers. You can then use this data to notify them whenever a new product comes up that you think they might enjoy. In addition, after you have analyzed client purchase activities, you can anticipate demand and stock up.

[00:03:24] You can also use this data to prevent turning clients away because you don't have enough inventory. Five, showcase success stories. Success stories and testimonials are powerful pieces of social proof that encourage your audience to trust you. You can also use these testimonials to determine whether your product solved your client's problem and worked as well as it should. Once a client has bought a product from you or paid for a service, it would help to ask them to leave a review on your website, which you will post for the public to read.

[00:03:53] Six, use online surveys. Surveys have been an effective way to gather customer feedback and insights since time immemorial. However, combing through hundreds of pages and reading through each response became harder. Technology has made our work easier and introduced online surveys. One of the advantages of online surveys is that they're fast. The system also accurately tallies up all the responses and presents the data in an easily digestible way.

[00:04:22] Here is a list of questions you could include in your survey. How did you learn about our business? What do you like or dislike about us? And what do you think we should improve? Seven, analyze the data on your competitor's website. By now, you've probably used SEO tools like Ahrefs to determine popular keywords in your niche and the level of engagement your website gets daily. Even though you can't use these tools to snoop through your competitor's website, you can still determine which keywords their content targets.

[00:04:52] Once the information is within reach, you can tweak your posts to target similar keywords or adjust how your adverts reach your clients. Information from your competitor's website can also help you find potential link-building opportunities to leverage. Eight, read online reviews. Customers constantly leave feedback and reviews about a business they interacted with to share their experience with other internet users.

[00:05:16] You can navigate websites like G2, Capterra, and TrustRadius to learn precisely what your clients say about you. Clients also communicate the overall customer experience and what they think you should improve. Since each user needs to create an account to post a review, you can be sure that the responses are legit. Nine, leverage social media. Users on social media hardly hold back when they encounter a brand they like. They will shower their praise and recommend their services.

[00:05:46] Unfortunately, the vice versa is also true. Clients who don't enjoy their experience with a particular brand will get that information on their social media page in no time. Therefore, social media is an excellent place to learn what your clients think about your business. You could watch the comments and trending hashtags about companies in your niche. Alternatively, you could ask for their feedback directly through polls and posts. And ten, gather insight from your competitors' reviews.

[00:06:13] It is always a good idea to look out for what your competitors are doing and use it as a reference point for your business operations. In addition to reading reviews about your business, you could also find out what your prospective clients say about your rivals. A deep dive into competitor reviews could uncover client expectations you didn't know. You will gain the upper hand if they have any complaint you think you can correct. Final remarks.

[00:06:37] A better understanding of your audience will help you deliver prompt messages, meet and exceed customer expectations, create a solid emotional connection, and give your business a competitive edge in the crowded market. In the long run, gaining customer insights boosts retention rates and customer loyalty and increases revenue. Now that you know all the benefits of gathering data about your clients, we hope you will use these tips to take your business to greater heights.

[00:07:06] You just listened to the post titled, How to Uncover Customer Insights for Your Business, by Michael Levitt of BreakfastLeadership.com. UKG is the workforce operating platform with unified HR, payroll and workforce management, built to solve the unique challenges of frontline work. Powered by People First AI and decades of labor data, UKG turns workforce intelligence into real-time decisions around staffing, pay, compliance and productivity, enabling every worker to confidently take action as work happens.

[00:07:36] Because when work works, everything works. Learn more at ukg.com slash work. UKG, HR, pay and workforce management. Black Friday is happening now at the Home Depot, and we've got just the tree for your style, space and budget. Keep it merry and bright, then make it yours with ornaments and trimmings for every holiday style. With festive favorites starting at just $49, shop for the perfect tree at the number one Christmas tree retail.

[00:08:06] Find the tree that feels just right with low prices guaranteed at the Home Depot. Exclusions apply. Visit HomeDepot.com slash price match for details. Thanks to Michael for those great tips today, and let me tell you a little bit more about him. Michael Levitt is the founder and chief burnout officer of the Breakfast Leadership Network, a San Diego and Toronto-based burnout media firm. He is a therapist certified in NLP and CBT therapy, that's neuro-linguistic programming and cognitive behavioral therapy,

[00:08:35] and he's one of the world's leading authorities in burnout recovery and prevention. Michael is also a Fortune 500 consultant, number one best-selling author, and the host of the Breakfast Leadership Show, which is a top 200 podcast on Apple Podcasts. In addition, he's a two-time top 20 global thought leader on culture with Thinkers360, and a former healthcare executive, CIO, and CFO overseeing $2 billion budgets.

[00:09:00] So tons of experience and tons of content you can check out at breakfastleadership.com, and again, a big thank you to Michael for letting us share his work. So with that, I hope you are having a fantastic day and weekend if you're listening in real time, and I'll see you back here tomorrow for the Sunday episode, and that is where your optimal life awaits.