You can’t Have the Profits without Knowing Your Market First | Maptechworks.org
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To Count the Profits, Count the People First

Knowing Your MarketMen are creatures of habit. Taking a closer look at how one reads a newspaper for instance, could reveal the buying habits of the reader. A food enthusiast would predictably check the food section of the paper first, while a basketball sports buff would look into NBA matters more. It’s certainly no exact science but learning the buying behavior of your retail market could spell the difference between a successful marketing campaign and a lackluster one – reason why people counters are spot on.

Behavior Patterns Matter

Americans aged 60 and over are more likely to keep up with the news than the younger generations, 18 to 29 years old, recent survey show. It seems the older one gets the more relevant news stories become and a whopping majority – 89 percent to be exact – of seniors make a daily habit out of news consumption. Surprisingly, younger people give attention to breaking news more than any age group.

These data may sound irrelevant to most everyone but for an entrepreneur wanting to create a news channel to rival CNN, it’s a treasure trove.

Knowing the behavior of your consumer is central to carving a huge share in your target market. As one retail pundit quip, there’s just one thing you need to remember when prospecting new customers and it’s that: behavior matters most.

Getting a Competitive Edge

For your retail store, availing of a people counting system could provide just the momentum you need to win customers big time. By being able to quantify how many people got in your store at a particular time, you will be able to tweak your marketing campaigns accordingly. Thus, knowing that there are more people coming in on Mondays but less sales could reveal a potential weakness in your product offering, for instance. Or as the case maybe, you could be putting your less-capable staff on peak days leading to sub-par sales figures even when people are coming in.

Thus, by providing greater knowledge on customer behavior, people counters allow you to corner greater profits for your store.

  • Posted by Admin on March 2, 2016