The ways we consume people are changing. COVID-19 has accelerated a process that had been going on for years to come. Consumption is not an aspect apart from the changes that are taking place in society, many sectors such as work, medicine, training, or culture are experiencing them towards the online.
According to an uppers article, a recent study by MasterCard reveals that 62% of Spanish people are making more online purchases since confinement.
These changes were occurring very slowly, but it is estimated that this pandemic has accelerated the process in 10 or 20 years, making it a key time to adapt to what is coming.
How does this revolution affect the analysis of my SaaS consumers?
We are in the age of data, which means that we have in our possession a huge amount of statistics about our business.
The online field favours sales but generates confusion for many companies when it comes to analyzing their customers. Consumers can reach you from anywhere on the planet, you don’t have that face-to-face contact with them, the relationship is colder, you don’t have a visual picture of them…
In our search for our ideal customer, this can be an inconvenience, but it is actually an advantage if you know how to act on it. To understand the behaviour of our consumer we must ask ourselves many questions:
- Who buys?
- How do you buy it?
- Why do you buy it?
- When do you buy it?
- Where do you buy it?
- How much do you buy?
- How do you use it?
It seems difficult to collect all this information, but it’s not that much. The value will bring to the company will be very great. It’s worth making the effort to get the data at our fingertips.
Consumer purchase process
When a customer is interested in purchasing something follows a routine that we define in 4 steps to make their purchase decision. We will develop the purchase process using an example to make it clearer:
- Discovery and learning: Carlos, a SaaS software entrepreneur knows about SEO positioning, researches it, but has yet to buy any programs to optimize his SEO.
- Recognition of the problem: After a few months of business, Carlos realizes that he doesn’t sell everything he wants. Your product is the best on the market, there are customers, but do not contact it. You start to think that the problem is that it doesn’t appear in searches.
- Finding solutions: Carlos has already looked for the tools he needs to improve his SEO, now he’s looking for comparisons and better options.
- Purchase decision: Carlos chooses to buy the option that has been best for him and that will help him more in all aspects.
Current consumer characteristics
Consumer behaviour is a very variable feature over time and is constantly changing. The time, the social context, the channels… there are many variables that influence have different attitudes.
If you look at today’s consumers, we can find the following features:
- Doesn’t like over-advertising
- Value of quality-price
- The Internet is your main tool for finding solutions
- They don’t want waiting times or paperwork, they want it now.
- He likes to feel part of the project.
- Before you buy, always checks the opinions of consumers.
- He’s interested in novelty, getting the first one.
- Trust the people you think you’re referring to or admire.
- Requires secure payment methods to make purchases.
- He’s concerned about the environment, sustainable products.
What should I know about my clients?
Large companies invest a lot of money in studying and getting to know their consumers. This gives them a competitive advantage over the rest. Knowing which public, you like about your product, the relevant features, or its needs, will make you adapt better to them and therefore give them a better service.
If we talk about SMEs, they can be considered at a disadvantage given the cost of these large analyses that make companies more powerful. Even so, SMEs can take advantage of some of its features such as closeness to customers or personalized treatment. They are two aspects in which they can specialize to know first-hand the tastes or preferences of their consumers.
If we had to highlight some relevant aspects to know about our audience, they would be as follows:
- What a percentage of men and women.
- What is its geographical location?
- How old they are
- What income they have
- Educational level
- Marital status
- Consumption routines (products, frequency, means of payment…etc)
- Price sensitivity
- Opinion about your brand
- Loyalty to the brand
As we have seen the data are very important for companies, whatever their size. Having the knowledge of your clientele and knowing how to act accordingly to them will make you much more efficient and be able to have more options in your business.
Generating a good marketing strategy starts by doing a good analysis of the data, so from Nementio we offer that, if you have any further questions, contact us to help you.