They have a greater need for it. How to Gather Psychographic Data. Leo Widrich, the co-founder of Buffer, says “Giving the best customer support possible is at the very top of our list. Not only do you know who your customers are, you now know what motivates them to buy. With a traditional punch card, all you’re doing is getting customers to return to your business, which is great. While knowing your market’s demographics give you the power to spot potential customers in a crowd, understanding your market’s behavior will enable you to attract them to your offerings. For your business to thrive you need to know who your customer is. Cha-ching! What motivates your target customer base? This information allows you to create messaging that’s more personalized, for individuals and groups that have similar experiences. The more you know about what drives your target customers’ buying decisions, the more Knowledge Commerce products you can sell. Walmart which is one of the biggest retailers of the world has been very successful in motivating its employees, by the uses of both Intrinsic and Extrinsic rewards. When creating a referral system, make sure that, as a user, you would be enticed. Information on demographics is pretty easy to obtain. This is a much more effective and affordable way to reach your customers and generate business. Knowing your customers will help you to target customers who are willing to pay for your product or service. The fulfillment of those needs can then motivate them to make a repeat purchase or to find different goods and … 2. But for many customers, there is a preference to shop in stores that have other customers or activity taking place (just go to your local mall for an example of this). Since you probably don’t have billions or trillions of dollars to spend, however, you have to get creative about collecting and analyzing consumer behavior data. Now that you know who your target market is on a superficial level, you can use that information to deepen your understanding of your customers as individuals, and learn what drives them. For your business to succeed, it must have enough customers to buy the product or service offered. For example, have customers send texts with a photo of their receipt and after 10 submissions they receive a gift or reward. When your customer is about to retire, they may be more inclined to buy luxury products associated with travel. Providing not just good, but excellent, customer service makes your prospects feel like you value them, which makes them more likely to buy from you. Figure out whom you expect to be your most likely customers -- in other words, your target customers. Before you launch your new business, take time to evaluate your potential customer base. Why it works: Again, the added value here is the reward you’re offering in exchange for customer loyalty. A decent, sturdy handbag can be bought for $50, yet people will still spend thousands on a brand name. To help accomplish this, schedule special events, trunk shows and other promotional events to help lure many customers into your store at once. Consumer motivation is an internal state that drives people to identify and buy products or services that fulfill conscious and unconscious needs or desires. Luxury goods exemplify how irrational we can be. Motivation Motivation is the set of forces that initiate, direct, and makes people persist in their efforts to achieve the goals. True, but, there is a difference between knowing what gets a customer to buy and knowing when that customer will be in that "what" situation. In turn, you should be able to reach your audience with much greater efficiency and get more bang for your marketing buck. Your potential customer base a brand name a much more effective and affordable way to reach your customers are you! 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