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How can you use customer research to stand out from competitors?

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Customer research is not only a way to understand your target audience, but also a powerful tool to differentiate your product from competitors. By conducting customer research, you can discover the unique value proposition, pain points, preferences, and expectations of your potential and existing customers, and use this information to create a product marketing strategy that stands out from the crowd. In this article, we will show you how to use customer research to stand out from competitors in six steps.

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Valentine Boyev

CEO at Halo Lab ? Helped 500+ companies to raise ??revenue and investments through digital design and marketing →…

1 Define your research goals

Before you start any customer research, you need to have a clear idea of what you want to achieve and how it will help you stand out from competitors. Your research goals should be specific, measurable, achievable, relevant, and time-bound (SMART). For example, you might want to find out how your customers perceive your product compared to other alternatives, what features they value most, or what problems they need to solve with your product.

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Valentine Boyev

CEO at Halo Lab ? Helped 500+ companies to raise ??revenue and investments through digital design and marketing → $500M+ in client total funding
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Your objectives will mainly hinge on the startup's development phase. For instance, Early Stage: Grasp the requirements of potential customers in your intended market. Growth Stage: Gain insights into how customers utilize your product and pinpoint chances for enhancement.

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Karen Burhans

Consumer Insights | Customer Experience Research | Brand Strategy
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For customer research to truly make an impact on the business, it must be fully embraced at the top (leadership/decision-makers). In a ideal world, research goals are defined by the decision-maker. The researcher then operationalizes those goals. When goals aren’t clearly defined at the top, the researcher is left searching for a story that might be of use, leaving a lot of room for wasted efforts.

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2 Choose your research methods

Depending on your research goals, you can choose from different customer research methods, such as surveys, interviews, focus groups, user testing, observation, or analytics. Each method has its own advantages and limitations, so you need to consider the scope, budget, time, and resources of your research project. You can also combine different methods to get a more comprehensive and reliable picture of your customers.

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Valentine Boyev

CEO at Halo Lab ? Helped 500+ companies to raise ??revenue and investments through digital design and marketing → $500M+ in client total funding
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? Surveys are suitable for numbers from many people, but they can feel distant and might be biased if not done well. ? Interviews get personal insights from a small group but are time-consuming and can cost more. ? Focus groups show how people interact, but they're tough to control and might be biased if not moderated right. ? Experiments are solid for cause-and-effect; I think it's the best way. My advice: when you're picking a research method, think about these things: ? What exactly do you want to find out? Your goals and research questions matter. ? Consider what resources you've got – time, money, etc. ? And hey, don't forget ethics – any concerns about your method?

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3 Segment your customers

To get the most out of your customer research, you need to segment your customers into meaningful groups based on their characteristics, behaviors, needs, or preferences. This will help you understand the diversity and complexity of your customer base, and tailor your product marketing messages and offers to each segment. You can use criteria such as demographics, psychographics, geography, usage, loyalty, or satisfaction to segment your customers.

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Valentine Boyev

CEO at Halo Lab ? Helped 500+ companies to raise ??revenue and investments through digital design and marketing → $500M+ in client total funding
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Once your goals are set, you can start pinpointing the key factors that matter most to you. For instance, if nailing down your marketing is the aim, you could slice up your customers by demographics like age, gender, or income. That way, you can tailor your marketing messages to really connect with your target audience. For cooking up more fitting products and services, diving into psychographics like interests, values, or lifestyles could do the trick. It lets you shape offerings that fit the bill for different customer groups. And if you're all about stepping up customer service, digging into customer purchase history or website activity is the way to go.

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4 Analyze your data

Once you have collected your customer data, you need to analyze it to find patterns, insights, and opportunities that will help you stand out from competitors. You can use various techniques and tools to analyze your data, such as descriptive statistics, thematic analysis, sentiment analysis, or SWOT analysis. You should look for common themes, gaps, trends, strengths, weaknesses, opportunities, and threats in your data, and compare them with your competitors' data.

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5 Communicate your findings

After you have analyzed your data, you need to communicate your findings to your product marketing team and other stakeholders in a clear and compelling way. You can use different formats and channels to communicate your findings, such as reports, presentations, dashboards, or infographics. You should highlight the key takeaways, recommendations, and actions that will help you improve your product marketing strategy and stand out from competitors.

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6 Implement your strategy

The final step is to implement your product marketing strategy based on your customer research findings. You should use your customer research to inform your decisions on product positioning, messaging, pricing, distribution, promotion, and evaluation. You should also monitor and measure the impact of your strategy on your customer satisfaction, retention, acquisition, and loyalty, and adjust your strategy accordingly.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you use customer research to stand out from competitors?

1

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3

4

5

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1 Define your research goals

2 Choose your research methods

3 Segment your customers

4 Analyze your data

5 Communicate your findings

6 Implement your strategy

7 Here’s what else to consider

Product Marketing

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How can you use customer research to stand out from competitors?

1

2

3

4

5

6

7

1 Define your research goals

2 Choose your research methods

3 Segment your customers

4 Analyze your data

5 Communicate your findings

6 Implement your strategy

7 Here’s what else to consider

Product Marketing

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