Business

Why knowing your customers is essential.

You might think that you’ve got little time to spend delving into your customers and who they are. The daily grind of running a business is hard enough as it is without peeling back the onion of your demographic. As long as people use the site and buy from it, things must be going well, right? Not necessarily. Resting on the laurels of your success is one thing but knowing your customers is also vitally important, and here’s why. First, you must have set up a KYC (know your customer, obviously) system for them to access the site. This can be provided by someone like https://www.w2globaldata.com/regulatory-compliance-solutions-and-software/know-your-customer. It means you know who is trying to get on the site and use it.

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The other part is more challenging, but there are quick and discreet ways that you can find out more. Yes, you can look at sales figures for trends in the year, but this fiscal data is only going to tell you so much. Invest in a social media page. Put out some articles on it and see what likes you get. Have some fun surveys to ascertain their mood. For example, if you have a new product or service idea, offer it to the top 20 spenders first and gauge their reaction. Then, create an email list and send out a regular, fun and informative newsletter each month.

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After the last two years, it’s become harder to interact with people physically, but it’s never been easier to do it virtually. So it’s time to use that advantage to know your customers.

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