Customer Loyalty Market Research

Why Your Customers Will Buy From You?

Customer loyalty market research will inform your marketing efforts by helping you to identify why your target customers will buy your products and services.

What is it about your product or service that your target customers really care about?

Benefits

The first step in identifying why your target customers will buy from you is to work out what it is about your product or service that actually motivates people to buy. To do this you need to examine your products features and benefits.

Features of your product or service are the characteristics that come with the package. It might be the choice of color, or the level and type of service.

The benefits are the reason the customer wants the feature. For example, providing an after hours service number might be a feature of your service. The convenience of having their question answered or their problem solved at any time of the day or night would be the benefit to the customer.

What are the benefits of your product?

One word of caution though, just because you perceive a benefit in your product does not mean that your customers will, or that receiving the benefit from purchasing your product will be more important to them than the price or any one of a large number of other factors related to your product.

The only way to really know if your product is what your customers need and are prepared to pay for is to ask them.

Price

Are your target customers price sensitive? If not, then you should focus your efforts on identifying other aspects of product offering that will appeal to your customers.

Quality

Quality should be a given, especially if you want your customers to keep coming back.

However, the more your customers care about quality, the more likely it is that they will be prepared to pay for it. Conversely, regardless of the actual quality of your product, these customers are also likely to perceive your product to be low quality if the price is too low.

Customer Service

Is the level of service you provide to your customers one of the reasons that they buy from you? How is your product or service offering different from your competitors and why is that attractive to your target customers?

Convenience of Purchase

Do you make the purchase transaction easier for your target customers than your competitors do? Is convenience of purchase a important benefit for your customers? Will it influence their motivation to buy from you rather than someone else?

Location

Is your customer base going to be determined by geographical boundaries? Do your customers live locally, or are you targeting a national or international market?

The Next Step?

Now that you have identified and hopefully quantified the benefits you can offer to your prospective customers by undertaking customer loyalty market research, the next step is to work out exactly who those customers are!

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