I just got back from a business trip in which I spent a good deal of time in the airport world. People watching is a favorite past time of mine, as I enjoy analyzing human behavior and apply the key findings of my observations to my every day life and the advertising marketing world in which I work. While the business of travelers moved around me, I had about 45 minutes of people watching. As I watched people move in and out of shops and boarding lines, it occurred to me that all people really want out of their purchasing power is for you give them what they want, not what you think they need. As I pondered this concept , I wondered what sort of analysis could be performed for a company to assist them in this marketing endeavor. Times are hard and money is limited, so how do you make a marketing budget truly impact the bottom line? The logical answer is a thorough analysis on your customer base so that Identifies the drivers of profit, hooks that help retention, and markers to find more profitable clients. I know it sounds simple, but the reality is most companies don’t have the resources to dedicate to finding out what really is working, and most importantly what is not working. If you think about what really drives your own buying behaviors, I suspect you will find that you are drawn to companies that have what you want (fulfilling your need), have excellent delivery channels (can buy it on-line, in person or by phone), and you are endeared to their brand at some level. In my life, there are many times where my emotional wants and desires trump my logical needs. It really is the world in which we live.
As part of the Reflex blu team, we understand the need to know your customer, know what drives profit, and how to market through multiple channels to get your message heard. Don’t settle on marketing what you think the consumer needs, find out what they want and fulfill the need. Long-term profits will be the return on your investment, when you marketing to the right person, at the right time, with the product or service they need.
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