Do You Really Know What Your Customers Want?

Whether you are just starting out in business or you've been operating for many years, it's always important to periodically ask yourself, "What do my customers want?" Here's why.

When you're first starting a business, you've got some great ideas. Most of the individuals who have gone into business for themselves have worked for one or more companies for some time and have become convinced they can do it better. Perhaps you've seen a customer need that has gone unmet. You may have even said to yourself, "Why should I make someone else rich when I can run my own company and serve customers better?"

This isn't all that bad, but what happens is that most new business owners don't go into business with a great deal of pre-planning under their belts. They're typically technical people who have a great idea, but have no clue what it takes to run a successful business. So they get out there and jump right in, working in their business instead of on it. The problem is that they haven't done sufficient planning to really find out about their target customers and their needs.

Ok, now let's look at the seasoned business owner. They've been in business for so many years they have the attitude that they know exactly what their customers need. They believe they are so in tune with their customers that they don't need to periodically ask them how they feel about their products or services. There's a very serious problem with the seasoned business owner who thinks he or she is doing it all perfectly.

First, it's important to remember that times have changed. The prime motivators for buying in today's market may not be the same they were 5 or even 10 years ago when the economy was booming. People had more disposable income back then. Now, buyers are much more cautious and do a lot of research before making purchases.

Think about this... If you have seen a slowing trend in your business, is it because times or tough or is your marketing message off target with your customers? Go one step further and ask yourself, "Was my really meeting the needs of my customers or was I just reaping the benefits of a good economy?"

Through the power of the internet, buyers have more information at their fingertips. They've also become accustomed to receiving products and services that are highly customized to their personal wants/needs. As a business owner, it's always important to keep asking the question, "Am I providing my customers with a product or service that meets their needs and exceeds their expectations?"

So how do you really know what your customers want? You've got to ask them. Here are some tips you can use to solicit feedback from your customers:

1. When you are going through the sales cycle, listen to your customers. That means they do all the talking and you periodically ask questions to confirm you understand their needs. Too many times we're trying so hard to "sell" someone on our product or services that we just give our usual canned commercial and don't really hear what our customer is saying to us. By actively listening, we'll know the exact issue they're facing and we'll be able to provide them with the very best solution.
   
2. If you've got a brick and mortar business, at the point of sale, give your customer a brief survey on a note card and ask them for their opinions. People really do want to see you succeed, especially if they've been loyal customers. In the survey ask about each area where a customer has direct contact with you.
   
3. Send them a survey by email. There are a lot of great on-line survey programs you can use to solicit feedback from customers. Each step of the way let them know you value their input.
4. You can hire a pubic relations or marketing research firm to conduct a focus group. This is an especially good idea if you are just starting out in business. You'll be able to identify your target audience, their needs, and how they make their purchasing decisions.

Regardless of the method you use, it's important to accurately identify the needs of your customers. Never assume you know exactly what your customers want. Always take the time to listen and periodically re-evaluate how well your products or services are meeting customer needs.