How to Boost Your Sales with 100% by Understanding Your Customers?

Before we delve into the topic, it's crucial to emphasize the importance of understanding your customers. This understanding is key to improving your conversion rates and ultimately selling your products more effectively. Have you ever considered how much better you could sell if you truly knew your customers? Have you ever wondered why some people excel at selling while others struggle? In this article, we will take a step further in understanding our customers, equipping you with the knowledge to boost sales and conversions. So let's begin.

Imagine you're walking down the street and stumble upon a $500 bill. Would you pick it up? Of course, you would. We all would. Because who wouldn't want to increase their profit, especially when it's so effortless? Understanding your customers is like discovering a path paved with $100 bills. In the following sections, we will explain how this is possible, but let's start from the beginning. Have you ever asked yourself, "How well do I know my customers?"

There's often a significant disconnect when it comes to internet and e-commerce stores. You rarely see your customers face-to-face, and in most cases, you don't interact with them directly, making it challenging to truly understand them. Sure, you can rely on tools like Google Analytics and Mixpanel to analyze their online behavior, but it will never be the same as having a real conversation or observing their expressions in person.

Despite the physical distance between us and our customers, we live in the 21st century! We should be able to leverage technology and innovative solutions to bridge this gap. Although it's possible, many of us have yet to fully utilize these resources. Let's explore the main reasons why stores struggle to understand their customers, starting with a lack of effort.

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Unfortunately, many stores fail to make an effort to understand their customers. Whether it's due to indifference or a lack of awareness about the benefits, they simply don't prioritize this aspect. They set up their store, start receiving orders, and leave the rest to chance. As a business person, reading this should send shivers down your spine! You should strive to improve this situation and make customer understanding a top priority.

Statistical insights reveal that over 95% of customers won't provide any feedback at all, leaving store owners operating in the dark. While you may be doing well, could you make even minor improvements with a little more insight? It's like walking along a narrow path blindfolded, with a cliff on one side and a pot of gold on the other. Removing the blindfold allows you to see exactly where you need to go. Understanding your customers removes that blindfold and illuminates the path ahead.

Pro Tip: Leverage the data from your eCommerce store. We allow you to do that easily with our CloudCart Analytics.

A Lack of Customization

Most existing solutions in the market rely on two common rating systems: 5-star ratings or Net Promoter Score (NPS). However, these systems often fail to provide meaningful insights to store owners. While it's great to have a perfect 5-star rating or an excellent NPS score, what do they truly tell you? It's like receiving a test with only a "pass" or "fail" written on it.

But where did you go wrong? What could you have improved? Did you score full marks on a specific question? Which areas need more attention and improvement? While these ratings are a step in the right direction (better than nothing), they lack the customized insights that each store may require.

One store might want to know if their orders are being delivered safely, while another may prioritize the appearance of their store. When you start asking the right questions, you can uncover the right answers. Every store is unique, and therefore, they need access to diverse and specific insights tailored to their individual needs.

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‍A Band-Aid Solution

Many stores attempt to solve only a small part of the customer understanding issue. For example, you might come across websites that have chat widgets prompting you to engage with them, while another site offers a 20% discount for subscribing, and yet another sends a handwritten thank-you card with your order. These are like looking at the whole picture through a pinhole - you only see a fragment of the complete image. That's why stores should strive to avoid band-aid solutions and tackle the entire customer understanding challenge. Always keep your focus on the ultimate goal: engaging with customers, gaining a deep understanding of their needs, and offering more value.

By taking a holistic approach, you can unlock the full potential of customer understanding and foster long-term relationships with your customers.

What You Have To Gain ‍

Remember that road of $100 bills we was referring to before? While a literal road would be decent, these advantages are the e-commerce business equivalent, all just from having the capacity to understand your clients.

‍Stop The Leaky Bucket ‍

Whether you can see it or not, your store is a bucket… with some holes in it. Guests pour in from everywhere throughout the web, however unfortunately, most are spilling out before purchasing anything. Understanding your clients is an approach to distinguish what is working and what isn't, and roll out the improvements necessary to plug as many gaps as possible. The more comprehensive your understanding is, the fewer gaps in your pail, and the more cash you will make. Envision every one of those $100 bills that would have never remained in your pail! We find that the more straightforward it is for your clients to communicate, the more you will hear from. That is the reason why you should search for ways to ask every time a customer make a purchase how do they fell and was is smooth and nice the purchase process. The information you will get from that it is just priceless. ‍

Existing Customers ‍

When you make an effort to understand your customers, they will undoubtedly take notice. They will see that you genuinely value their opinions and are committed to building a better service for them. Just like you and I, everyone enjoys feeling special. It's like that warm feeling you get when someone says "thank you," but amplified. This fosters a sense of loyalty within your customer base, leading to more repeat purchases and a higher number of referrals. This is where those metaphorical $100 bills come into play!

It's important to note that acquiring a new customer costs around 6-7 times more than retaining an existing one. So, why not invest significant effort into retaining the customers you have already won? Don't leave money on the table! By prioritizing customer satisfaction and loyalty, you can maximize the value of each customer and build a thriving business that benefits from repeat business and positive word-of-mouth.

‍Future Customers

When you have a deep understanding of your existing customer base, you gain valuable insights about your true target market. This knowledge helps you identify new niches to explore, pinpoint the most profitable demographics, and determine effective ways to reach them. By employing this approach, you can attract more customers and generate increased revenue. Fortune 500 companies invest millions of dollars into this process because they recognize its immense power. The good news is that technological innovations have leveled the playing field, allowing even the smallest online stores to compete on this front. Embrace the available tools and insights to uncover your target market's preferences, behavior, and needs, and leverage that knowledge to drive growth and success.

‍The Art of the Upsell

When you engage with your clients, it's an incredible opportunity to implement effective marketing strategies. Each interaction has the potential to be profitable! One strategy that I've found to be highly effective is offering a time-limited bonus to encourage customers to return to your store promptly. By providing them with a tempting incentive that has an expiration date, you can create a sense of urgency and drive them back to make a purchase. This approach not only increases the likelihood of repeat business but also boosts customer engagement and generates revenue. Take advantage of these moments of connection to implement strategic marketing tactics that resonate with your clients and contribute to the growth of your store.

Find many more tactics that will allow you to explode your store's growth in our Complete Guide To Conversion Rate Optimzation Mastery.

Where To Start

‍Yes, this is somewhat of an overwhelming task. Particularly in case that you aren't doing anything at this moment to understand your clients. In any case, don't stress, we have a strategy for each step of the process. ‍

Essential

‍Start small, as every action you take makes a difference. If you don't have a large customer base and don't want to spend much or any money, consider implementing manual strategies. Here are a few ideas to get you started:

1) Create a short survey on platforms like SurveyMonkey and send a personalized email with the survey link to each customer after their purchase. This allows you to gather valuable feedback directly from your customers.

2) Write a customized thank-you note and include it with every purchase, kindly asking for feedback at the end. This personal touch shows your customers that you genuinely care about their opinions and encourages them to share their thoughts.

3) Take the initiative to pick up the phone and call some of your customers to have a conversation about their experience. You'll be surprised how appreciative they are to hear from you and have the opportunity to provide feedback.

4) Engage with your customers on social media by posting small surveys or polls to gauge their interest in specific topics. This not only encourages interaction but also helps you understand their preferences and interests.

By taking these small steps to engage with your customers and gather their feedback, you can start building stronger relationships, improving your products or services, and ultimately growing your business. Remember, even the smallest efforts can lead to valuable insights and positive outcomes.

Intermediate Tactics

We understand that manually managing all these tasks can be challenging. If you're too busy to handle them yourself, it's time to start utilizing some tools. There are many great applications available at different price points, so make sure to research and find the right one for you.

Here are some key features to look for in a tool:

1) Ability to contact each and every customer proactively (this is crucial!)
2) User-friendly interface for easy feedback collection
3) Compatibility with different browsers to gather the insights you need
4) Analytics capabilities to easily understand the findings
5) Integration of Upsell strategies to encourage additional purchases
6) Cost-effective, with a demonstrated return on investment

While such tools are beneficial, there is always room to delve deeper into understanding your customers.

Here are a few advanced tips:

- Consider hiring a firm like http://www.affinio.com/ to leverage your customer data and gain deeper analytics on your cusomers behavior.
- Hire someone to personally reach out to customers who have submitted support tickets to ensure their satisfaction.
- Assign a dedicated role to manage your web presence, social media, and online reputation to ensure your brand image aligns with your desired image.

Now that you have these insider tips to help boost your conversion rate (and as consequence sales), it's time to visit cloudcart.com and start building your new online store. This will provide you with the playground to implement all of these strategies effectively and take your business to new heights.

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