How to Use Numbers to Get Closer to Your Customers

Chapter 6 of "Measure What Matters" explains "how to use numbers to get closer to your customers."  This chapter talks about the slightly different techniques of listening to the marketplace and listening to customers and being able to respond appropriately.

According to the book, when listening to your marketplace, "the important thing is not how much you're getting, but if you're getting what matters to your business.  And, what matters to your business is what customers in your market are talking about" (100).  It is relatively easy to figure out what your marketplace is talking about by searching keywords and seeing how people come across your site.

"Measure What Matters" gives us a few ways to do this:

• Set up and Refine Your Search Strings:
• This can be done by setting up Google Alerts to search for those keywords and monitor results.  You should also set up alerts for competitors' names and brands to see how your company compares.
• Review and Track the Results
• Many mentions of your name may be irrelevant and need to be discarded.  Set up an Excel spreadsheet to keep track of the important results.
• Verify Which Outlets Matter
• After a few months you will discover that some channels and outlets mention you or your products or marketplace frequently.  Pay particular attention to the posts, channels, outlets and writers with the most comments.
• Determine What the Market Thinks of You and Your Competition: What Are Your Market Hot Buttons?
• Study the "hot buttons" to determine what issues are the biggest concern.  How does your business rank in comparison to your competitors?
• Determine How You Are Positioned in the Marketplace versus the Competition, and Use That Knowledge to Gain Advantage
• It does not matter what the market thinks of your brand or product, but what it likes and dislikes of the competition.

As it is important to pay attention to the marketplace, it is equally important to listen, learn and respond to customers.  Listen to social media conversations to see what your customers like and dislike and provide insight into people's relationship to your brand.  This will tell you what is working well for your brand and what needs improvement.

• Turning Feelings into Numbers and Metrics
• After collecting and categorizing information from social media, you need to quantify the data.  Percentages are key.  Use data from competitors, as well as your own data overtime, to benchmark your efforts.