The Importance of Knowing Your Customers

To outsider some businesses success might look like luck or extended periods of hard work.

Maybe they keep being in the right place at the right time with the right product.

Or perhaps they are trendsetters with the services they offer.

Underneath these things though is usually a founder or a team that has an innate understanding of their target customers.

They can see their wants and needs beyond the superficial level.

It might be knowing that customers aren’t just buying a premium car because they like the car but because there is status roles at play and they want to keep up with their peers or risk feeling inadequate.

Or it could be knowing that the customer is booking the holiday for a sense of adventure or getting a break from the norm because they feel like they are stuck in a dead end job with most weeks merging into one another and feeling too monotonous.

Both these examples won’t apply to the whole market and will likely just apply to a small subset of the market.

A good marketer though will have the research and understanding to know why the customers buy their product and are able to use this to sell them new products or service.

Or if they are really good they will get the product market first so right that it sells itself!

“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.” — Peter Drucker

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