Entrepreneur Tip #3: Define Your Customers' Need
You may not be able to satisfy everyone all of the time, but by knowing what your customers are looking for, and then providing it to their complete satisfaction, your business will grow.
When you understand your customers’ needs, you can design your business to meet their needs. Don’t set up a system and force your customer to do business your way. Find out how they want to do business and make it happen.
Plus, when you understand who your customer is, you can create a profile of your ideal customer. Then you can go find more ideal customers through targeted marketing. Your ideal customer won’t always find you; get out there and get in front of them!
You’re actually solving a problem your customer has by providing them with your product or service. Sometimes they don’t even know they have a problem until you give them a solution. That’s the one thing Steve Jobs loved to do with Apple products; make something that people didn’t realize they needed until they saw it.
Now, if your customer’s tastes, needs, or problems change in any way, you’ll need to change your product or service. When you suspect your revenue is declining, be on the lookout for signs of dissatisfaction like poor online reviews, complaints shared by customers with any of your employees, and customers who stop buying from your company.
Customer complaints aren’t all bad; you can turn them into true opportunities by reaching out and asking for direct feedback, so you can make it right with them and also learn exactly what to do to meet their future needs through improved processes, service, product quality, etc.
The big wins in your business are also opportunities! Take a deep dive into how you met your customer’s need and what led to the win. Then you and your team can fold these new learnings into your existing process to make it even better.
As a business owner, I’m often looking at areas where we can improve, and how we can do things better, and I’m guilty of not always mapping out what led to a giant success. Let’s not overlook the good while we’re trying to fix the less-then-good.
Stay aware of your customers’ evolving needs so you can continue to provide complete satisfaction.
And when you’re ready to protect your business, RaisinBread will be honored to help choose the right coverage at the right price. We’re entrepreneurs, too, so we know the importance of defining the needs of our customers, who are business owners just like you.
Please give me a call (402.540.0066) or email anthonywashington@myraisinbread.com. I’d love to learn more about your business and contribute to your success.
Anthony Washington has 30 years in the insurance industry and now he has created RaisinBread, an insurance tech company that makes commercial insurance simple for business owners to understand and purchase.
