So what’s your favourite colour? Why do I ask? Because once I know your favourite colour I can better predict what choices you’ll make if I want to sell you something with colour options – it’s called market research. The more I know about you, the better I get at marketing to you. Eventually, if I learn enough about you (my market), my offers will become irresistible to you.
Effective marketers spend a lot of time and money studying their markets. Think about it, Facebook and Google already know you better than some of your closest friends do.In Zimbabwe though, very few companies invest in or understand the importance of market research. It’s considered too difficult or expensive – but it need not be so. Even if you’re on a really tight budget, make every interaction with people in your market a learning experience.
Do two things.
- 1) Watch their behaviour. What are you watching for specifically?
- Watch for which choices they prefer
- Watch for how they respond to offers and situations that affect your sale.
- Watch for what they do before, during and after they engage you.
- 2) Ask them questions.
- Why do you choose this one option even though it costs more?
- What convinced you that you absolutely had to buy the product?
- Who influenced you into the buying decision?
The more you watch, and ask, the better you’ll get at marketing to your market, the cheaper your marketing will become, the faster your sales process will move and the easier life will get. Market research really pays off, yes even in Zimbabwe.
Don’t assume your market thinks like you or does things for the same reasons you do. Find out first.
Need help with your marketing strategy or with starting a business in Zimbabwe? Get in touch.