Disclosure: Some of the links in this post may be "affiliate links." This means if you click on the link and purchase an item, I will receive a small affiliate commission, at no extra cost to you. Regardless, I only recommend products or services I use personally and believe will add value to my readers.
The question “why do your customers buy from you?” may seem like a strange one for small business owners to contemplate. After all, with one eye on your bottom line, surely your only concern is that your customers do buy from you, and their reasons for their choice remain largely their own prerogative.
However, this isn’t the way that you want to approach your business/consumer relationship. Yes, of course, it’s important that your customers are buying from you, but it’s almost as important to evaluate the choices that lead them to that purchasing decision. Here’s why.
You need to know what you’re doing right
Let’s say that your business suffers through something of a slump, and you realize that you’re going to need to trim your budget somewhere. You decide that you’re no longer going to offer two-day shipping as standard because it’s (what you view as) a luxury you can’t afford during belt-tightening times.
So you cut the two-day delivery offer, expecting to be able to make some savings… only suddenly, you’re not receiving as many orders as you usually are. Suddenly, the financial problems that your business is experiencing are made even worse.
Now, look at the situation again for a company who does know why their customers buy from them. The same cost-cutting need applies, but you’ve commissioned market research surveys through the likes of www.Lanla.com, so you know that your customers love the two-day shipping and see it as a major plus for your company. So, you ring-fence it, cut from elsewhere in the budget, your orders remain the same, and your company survives the temporary financial glitch.
This is just one way that knowing why your customers like your business is vital to your continued success. Ultimately, you have to know what you’re doing right so that you can keep doing it.
Your brand and ethos
If you read about branding, identity, and ethos for businesses, these terms are used as if they are something you issue to your business. You decide that your business is going to be representative of X, Y, and Z, and you impress these values upon the business at every opportunity.
That is, of course, possible; www.columnfivemedia.com have some great tips on shaping your brand’s identity if this is something you have yet to do. However, a huge amount of your brand’s identity is found in what you actually are, how your customers perceive you, and what people think of using your service.
If, for example, you try and suggest that your brand stands for “innovation and creativity”, then that’s fine– but not if your customers are more likely to describe your business as “reliable and intelligent”. You need to know exactly what your customers think of your brand and use this to shape the direction of your business operations in the future.
If you don’t know why customers buy from you, then you can make costly mistakes and suffer from difficulties in understanding your customer base. Do the research, ask your customers what they think, and then take things from there.