Customer Analysis | 10 Tactics for Expert Customer Analysis

When it comes to winning online, few brands have found foolproof ways to stay ahead of competitors – but all of that is about to change. We have 10 tactics for expert customer analysis to share with you below. And these items will enable brands implementing them to connect with customers in ways that can revolutionize your category, with your brand leading the way!

READ NOW: GLOBAL CONSUMER INSIGHTS ANALYTICS REPORT 2021

What is Customer Analysis?

Customer analysis is the act of analyzing your current and potential customers to better understand their wants, needs, likes, dislikes and even hates as they relate to your brand and its offerings. It requires in-depth consumer intelligence data capture from all possible sources, including everywhere on the social web.

A business wants to know what consumers are posting and reacting to on social channels, both about their products and about the world in general – and definitely what consumers are saying about competitors’ products and personas online. This insight is not restricted to social channels, but includes blogs, forums, news and review sites, and it should fold in all internally gathered consumer data as well. Brands will want to analyze their customer call logs and any CRM intel sales folks have captured recently as well as historically.

How is Customer Analysis Used?

Once a brand has consumer intel in-hand and has analyzed it, this insight should inform every consumer-facing strategic decision that is made across the organization. And this intel needs to be regularly revisited to ensure everyone is on track and that the customer base hasn’t shifted in some way that requires a corresponding shift in your product line or marketing campaigns. This is why real-time, accurate intel is crucial. Without it, the foundation of one’s customer analysis will be flawed and costly, preventable, mistakes will result.

How does one conduct a customer analysis and how can brands use it most effectively? Here are those 10 tactics we mentioned at the outset. These expert customer analysis actions will help your brand better understand consumers, what inspires them to buy and ways to enhance both your share of voice and ROI in the market!

1. Find lookalike audiences

Understanding audience age is important, but the ability to track other demographic and psychographic intel is what can really make or break a customer analysis. For example, understanding the predominant interests of your audience reveals ways to connect as well as potential new groups of people to connect with.

consumer-interests

2. Uncover key purchase indicators

Depending on when you connect with shoppers, you’ll want to offer them very different things. Your consumer analysis should offer intel around various stages in purchase path to help move consumers along – intel that is very specific to whatever is blocking them from buying, along with clues to help move them along.

customer-journey-dashboards

3. Monitor the right forums and channels

Forums are fantastic, and top dog in the arena is Reddit; more specifically – subreddits. These niche forums are where current and potential customers are talking about you and your products right now. And you need to have a way to perform a customer analysis that pulls in the raw, super valuable insight. If you do not, you’re missing out!

And there are other source channels and forums where you’ll want to engage with consumers – and not every channel is equally relevant. You’ll want to become familiar with a variety of locations on the social web depending on your purpose, your category and even to the specific products you’re messaging out about.

sources-where-consumers-are-engaging

4. Identify influencers and KOLs

Key Opinion Leaders (KOLs) are typically famous folks that everyone knows, but this is not always the case. “Famous” is subjective and a famous gamer, for example, may be someone people in that category know but others do not. You need to become an expert yourself in this and not assume you know every up and coming KOL in your niche. The same goes for influencers.

What’s the difference? KOLs are influential for their expertise and they do not seek sponsorships typically, like Greta Thunberg for the sustainability space. KOLs are more behavioral in their approach, meaning they inspire people to take action or learn about something. But influencers are just that. They influence large swaths of the population to purchase specific products based on their own reviews and usage of said items.

So, if you want to get messaging out and shift behavior, it’s good to see if your ideas align with existing KOL messaging to associate your brand with that in some way. And if you want to sell to a niche market, it’s time to perform a customer analysis and see which influencers are resonating with your target consumers – and why. And then connect with them for a potential partnership.

READ NOW: GLOBAL CONSUMER INSIGHTS ANALYTICS REPORT 2021

5. Understand detractors

Knowing who dislikes your brand or its offerings is as important as knowing who loves you. And these detractors are often influencers in their own right – and can wreak quite a bit of havoc if left unchecked. These are conversations you’ll want to get ahead of, often by directing your influencers to help change up the narrative to something more beneficial.

6. Engage at the right days and times

Your customer analysis should offer insight around the times when your target audiences are active online. You should be able to quickly track this intel in your tool, revealing not only days that experience the highest volume online, but also the times.

hour-of-day

7. Recognize regional and cultural differences

Depending on where in the world – or, where in the U.S. – your target audience is interacting, there will be cultural or regional differences to be aware of. Does your consumer analysis tell you where in the world your audience lives and allow you to click through to explore specific regional conversations? It should!

geographic-location

8. Speak your consumers’ language

It’s important to relate to your consumers, but you also need to walk a fine line and not overdo it. Brands are super cringy when they go overboard and try to incorporate Gen Z lingo and fail. When it doubt, use consumer analysis to sort it out before proceeding – or you’ll become a lesson learned in our next item.

9. Monitor competitor conversations

Specifically, monitor the conversations competitors are having with consumers to understand what is working for them so you can do that even better and win again. It’s also valuable to learn from their mistakes, allowing them to fall flat for you. This can also provide opportunities to pick up the pieces with frustrated consumers and demonstrate your exceptional understanding of their needs and concerns.

10. Level up your internal customer analytics IQ

Last, but not least – make sure your entire customer facing team has a solid grasp of what customer analytics entails and how they should be folding it into everyday operations. Customer analysis is valuable to every part of your organization and should be used by teams that expand beyond marketing. The real-time insight available can save your brand many hours chasing an idea a competitor already tried, and reveal new income streams that your brand may not have discovered first – or at all – otherwise!

Ready to put these customer analysis tactics to work for your brand? Reach out for a demo and we’ll show you how that should look, and why NetBase Quid is the best platform to help you master these capabilities.

READ NOW: GLOBAL CONSUMER INSIGHTS ANALYTICS REPORT 2021

NetBase Product Line

Premier social media analytics platform

Tailored platform for growing businesses

Expand your social platform with LexisNexis news media

The power of social analytics for your entire team

Customer experience analytics platform

Out-of-the-box integration with other data sources

Actionable data to drive your business decisions

AI, Image Analytics, Reporting Tools & more

Product configurations to meet all needs

Quid Product Line

Media analytics and market intelligence platform

Enrich your media analytics with social data

Media coverage for historical & real-time monitoring

AI algorithms, NLP, data sources, and visualization

Tailored, configurable solutions