Proper market research gives businesses the opportunity to improve and personalize their customer experience based on their specific habits, wants, and needs.
In fact, 80% of customers believe the experience a company provides is equally important as its products and services, according to Salesforce. Additionally, 40% of consumers purchase more from businesses that personalize the shopping experience across channels.
Meanwhile, a study conducted by SuperOffice revealed that most business professionals (45.9%) consider customer experience (CX) to be their top priority in the next five years. Remarkable customer experience also leads 86% of buyers to be willing to pay a higher price.
In this competitive market landscape, embracing and implementing insights from market research becomes the compass guiding businesses towards enhanced customer experiences and sustained success.
Toggl Expert Weighs In On CX
Conducting market research and refining customer experience extends beyond surveys and focus group discussions (FGDs).
Ilia Markov, Marketing Director for the productivity software company Toggl, believes the key to truly serving your customer base is simple: to "go and talk to your customers."
"By talking, I don't just mean getting on a call with them — although that's important too. I mean immersing yourself in their world," Markov told DesignRush in an exclusive interview.
The seasoned marketer also suggests reading forums customers frequent, browsing through Reddit threads they might be commenting on, and watching Youtube videos useful to customers.
With over 1.6 billion monthly users as of 2023, Reddit is one of the most powerful tool for market researchers to gain valuable insights on their consumers — information that would otherwise be difficult to obtain through online surveys and customer feedback alone.
"Understand their challenges, their lifestyles, and their needs. Become a geek in your domain. The goal isn't just to echo what your customers are saying but to develop new insights and innovative solutions that they will find valuable," Markov concluded.