- 1 Physical Needs vs. Psychological Needs (Most Effective Market Research)
- 2 How are Customer Needs Determined? Conducting Research.
Conducting research to identify products that would satisfy customers is very beneficial for the future. People usually don’t open their wallets to spend money without getting anything. There is also an incentive to donate, such as feeling good about yourself or contributing to a cause.
Companies must take advantage of unmet customer needs and offer solutions to succeed. It sounds simple, but how do you know what’s on the minds of customers? Here are ways to research to identify products that will delight customers!
Physical Needs vs. Psychological Needs (Most Effective Market Research)
Physical needs are often easier to identify because they’re much more tangible. When we cough, we need syrup. When we’re hungry, we must eat. Therefore, physical needs are at the bottom of Maslow’s Pyramid of needs. It would be best if you met these basic needs for people to ascend to the upper steps of the pyramid.
The quality of a product or service in business is relative to the physical needs of customers. For example, those who enter a cafe hungry and tired need croissants and coffee. Also, a cold person in winter can stop by a clothing store and buy a pair of warm gloves. These behaviors may be related to specific physical needs. Still, they also link to more complex psychological conditions, such as a sense of belonging or closeness to a particular brand.
If there is an emotional reason behind being able to buy a product, psychological needs will immediately come into play. When basic physical needs are met, motivations to buy become emotional. Any pair of shoes can be acceptable to meet the physical need for dressing. However, we prefer a particular brand because it gives the needy one pair of shoes for every pair purchased, which aligns with our values. Making coffee at home is cheaper, but having breakfast in the cafe with an authentic espresso and a warm croissant is more appealing.
The impulse purchase is an excellent example of a desire that has become a need. The point is that humans are creatures as complex as their needs.
Psychological needs are a determining factor in brand loyalty. According to research, 84% of customers say they feel loyal to a particular brand or company, and 62% say they’re willing to put a lot of effort into buying from their favorite brands. Understanding the connection between loyalty and customer experience is crucial.
How are Customer Needs Determined? Conducting Research.
So how do you find out exactly which product your customers need? There’re some proven methods to consider:
1. Focus Group
A focus group is a group of people consciously chosen to participate in a discussion about a particular topic. These groups are run by market research firms and have a moderator who encourages everyone’s active participation.
Focus groups are beneficial for understanding consumers’ feelings and perceptions about a brand. They can also assist in the collection of psychographic data. These are information about a person’s values, interests, and attitudes and what motivates them to take action.
2. Customer Surveys
Surveys are a traditional way of collecting information from larger groups of people. Most are in a question-and-answer format to provide metrics.
Surveys can be beneficial for understanding what customers (current or potential) think about a product or brand. However, their effectiveness largely depends on the adequacy of their design. It is essential to be clear about what you want to know, the question formula, the demographic example, and how the survey is structured.
3. Listening to Social Media
Businesses increasingly realize the importance of being on social media for customer service. The data shows that customers want to communicate with companies as well as family and friends, which often includes using social channels.
Also, communicating with customers through their favorite channels helps build a more meaningful relationship. If the same questions or problems start to arise over time, it’s a sign that customers have an unmet need.
4. Searching by Keywords
When we want to find something specific (for example, the best pair of hiking boots), we most likely do an online search. This is what makes keyword research so important and helps a business identify the search terms and phrases people frequently enter search engines. By performing a confidential search, you can understand how far your company compares to the competition in the same industry or the same product. If the company doesn’t appear on the first page, customers are less likely to find it. This is an essential detail for both small and large companies.
Customers look for different information depending on where they’re in their shopping journey. For example, the phrase hiking boots will produce a very different search engine results page (SERP) than size 38 women’s hiking boots.
5. Customer Journey Mapping
You need to understand what they’re looking for to meet their customer needs and where they’re going from the information stage to the purchasing stage.
Customer journey mapping is the process of creating a visual representation of brand and customer interactions. It helps to see things from the customers’ point of view and gain insight into potential barriers and how to improve the experience.
6. Focus on Customers
Understanding what customers need and how to meet their expectations means putting them first. Successful businesses tailor their strategies to customers’ wishes and use data to deliver exceptional customer experiences.
It will help if you read our article, can you view a private instagram?