Black Friday Deal Ideas: How to Boost Revenue in 2024

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Another tactic is to gather feedback from current customers that you share with competitors or that you've managed to gain from them. You can gather this feedback through surveys or interviews with your key customers. Ask them what they think works best for your competitors and where they could improve.

Market research
The central objectives of market research are to define your ideal customer profile and improve relationships with existing customers to increase their loyalty. It involves understanding their demographics, preferences, and behaviors.

Customer relationship management (CRM) software is very architect database useful in this area. It helps you collect and analyze data on your existing customers' habits and preferences so you can translate it into marketing and sales actions . Study these metrics and identify what companies' customers value in order to adopt what's possible and thus have a business with solid sales strategies and excellent customer service .

In addition to your CRM data, you can collect customer feedback directly on social media through questionnaires and satisfaction surveys.

Note : Online platforms aren't the only effective channel for gathering feedback from your customers. You can further strengthen your relationship with customers by surveying their satisfaction via email. This, in addition to improving your offering, allows you to consider strategies to optimize the customer experience .


By studying the demographics of your existing customers (or your competitors'), you can also better understand what types of people are interested in your product and what new products might interest them.

From here, create your buyer personas or target customer model. Use data from your customer base, such as their social media preferences and demographic information. These profiles represent the potential customers your company's marketing strategies should target.