Are You Losing Out on Customer Data?

Ignoring the truth of what your customers think doesn’t help you sell more. Asking these 5 questions does.
Author, Profit First
March 20, 2013

One of the best kept secrets in marketing? There are really only five questions you need to ask to get a solid handle on why your customers buy or don’t buy, refer, or don’t refer, and like or dislike your product or service. If you can get someone to answer a 50-question survey, great. But according to Jeff Kear of BizJournals.com, you really only need the answers to five questions. Here are examples of two:

1. How likely are you to recommend our services/product to others?
2. How likely are you to purchase products/services again from our company?

The process of collecting data is easy and relatively inexpensive, yet so few (in other words, practically nobody) does it. Why? Because so many entrepreneurs are afraid of finding out the truth. Entrepreneurs are a lot like the folks who avoid going to the doctor for their annual checkup. They’re afraid the doctor is going to accurately diagnose that lump on their back and somehow think that avoiding the truth makes the reality of it go away. Bottom line? We’re all afraid of the truth.

Ironically, the only way we can heal ourselves is to know the facts and to know them as early as possible. This is true for your personal health, but it’s also true for the health of your business. Start asking your favorite customers questions about what you can fix and what you are doing well. Find out what you can do even more of to make people happy consumers. Once you master what they want, you are much more likely to attract customers just like them. Not a bad result for simply collecting the facts. Now you just need to do something about the lump.

[BizJournals]

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Author, Profit First