It doesn’t matter how good your product is or whether you offer the best service. Consumers will not purchase it or hire you if they don’t want or need what you’re offering. You also won’t be able to convince anyone of your product’s importance unless you’re clear on what your customers really want.
A keen understanding of what the customer really wants is at the heart of every successful company. Once you figure out what that is, you can begin to utilize this knowledge to persuade current and prospective customers that buying from your company is their best option.
Importance of Understanding Customer Needs
It’s a sad fact that many entrepreneurs and company owners do not always know what their customers need in a product. And according to research conducted by a Fortune 500 consultant, 90 percent of companies are wrong when it comes to what their clients want. This presents a glaring problem since knowing what the customer wants is the first step to ensuring that your product best suits your market.
Companies should also be able to give a reason as to why a prospect should buy from them and not their rival. This will become your Unique Sales Proposition (USP). For instance, your USP could be the same day delivery you are offering or the 15 percent discount clients who spend more than a certain amount per month in your store can avail. You won’t be able to establish your USP if you don’t know what the client desires.
The information you have regarding your prospective client can also be used to customize user experience, content, and marketing campaigns.
How to Figure Out What Potential Customers Want
Business owners have to realize that they should know more about their target demographic than just the basics if they want to have an advantage over their competitors. So how do you go about this? Here are some suggestions:
1. Determine Who Your Prospects Are
Time is a valuable commodity in business and life in general. You don’t want to waste your time selling to someone who doesn’t need your product or service. You need to determine who your customers are so you’ll know who to target. Information like whether they need your product, how badly they need it, and whether they can afford it are crucial.
2. Discover Their Feelings About the Product
Once you have determined who your potential client is, you’ll then need to start learning if they’re happy about a particular product or service you offer, and what they want to change about it. You should also know what they want to see in the future with regards to the product. Ask your customer questions like how much they want to change things, what effect they think these changes will have on their lives, and what they’ll feel when they finally get what they want. Never discount your customer’s feelings. You have to appeal to their emotions since 95 percent of consumers make buying decisions based on emotion.
3. Learn Their Pain Points
Aside from learning your customer’s hopes and intentions, you also have to discover their pains and frustrations when it comes to products and services. You need to figure out what problem they want you to solve. Know these things:
- What roadblocks are in the way of reaching their objective?
- What paths have they taken to overcome these roadblocks?
- How much do these obstacles frustrate them?
- What can you do to help?
It’s crucial that you understand what your customers’ problems are so you can provide the best solution.
4. Get Customer Feedback Early and Test Often
It’s always a good idea to get customer feedback quickly and to test your product or solution as early and as often as you can. Do this when you develop new products, upgrade features, or design a new ad campaign. Don’t wait until the product is released to get the customers’ reactions.
Some companies would release a prototype or conduct a dry run. Having a small, controlled group test out your products early will make it easier to make changes or to realign your goals. Working alongside your customers will save you money since you don’t have to drastically revamp your design or do numerous A/B testing. Your team will also feel better knowing that they are making changes that real clients need.
5. Pay Attention to Consumers Who Rejected You
You should also pay attention to those consumers who chose to patronize your competitors. They can provide you with invaluable information on where your product or solution is lacking.
Ask them for their feedback. Prospects who didn’t like your proposal can give candid answers regarding their reasons for choosing another company. Pay attention if the reason was the price. Was your expensive solution lacking the features your clients need or did it have what they want but the price was prohibitive?
Understanding what your prospective customers want is a vital part of the sales flow. You’ll need to invest time and effort to really know your target market and what they think before you can even come up with the right solution. Ask your customers the right questions. It will provide you with the right information while also establishing consumer trust.