Shifting economic priorities have transformed how many people shop and do business. Modern business owners know they must set themselves apart to remain viable in today’s market. One of the ways to do so is getting to know their customers better.

Current consumer behavior is defined by a blend of searching online for the best deals and discounts, and then being more deliberate about where money ultimately is spent. Business owners must identify the aspects of their offerings that will be in demand. Ensuring that customers choose quality over lower-cost alternatives often means stepping up customer service and interaction.

Here is a strategic plan for deepening customer knowledge.

Amass “small data.” The big numbers will show the trends in purchasing, but business owners can be in tune with the smaller clues that illustrate the people behind the transactions. Looking at what customers note on social media forums and other social groups can help business owners identify customer preferences and what they want to see more of.

Point of purchase surveys. Customers don’t have a lot of time to fill out exhaustive surveys. Instead, point of purchase or short post-purchase surveys can help business owners learn about what is driving customers to their shops, says Triple Whale, a business-building company.

Analyze any returns. Instead of just looking at what customers are buying, consider what a specific demographic is returning, especially if it is done frequently. It may signal a gap in the product description, or indicate a problem with quality.

Engage in direct conversation. No amount of AI technology or survey questions can beat direct conversation with customers. Business owners can spend time on the floor engaging with customers. They may want to invite a small group of the most loyal customers to feedback sessions to learn what is working and what is not. In a digital marketplace, heat map tools will show business owners where users spend time on their sites, according to Optimizely, a digital optimizing company.

Be part of the community. In addition to spending time with customers in-house, businesses can sponsor local events, teams and more to fully integrate with the community. Customers are increasingly becoming intentional spenders due to inflation fatigue, and they may be willing to pay more at a company that is invested in the community.