By Obuekwe
In last month’s edition of the Marketing Masterclass, we explored why small businesses should focus on customers and not do competition if they want to be successful.
We said that customers are the backbond of any business, and it is important to focus on meeting their needs, instead of worrying about competing with other businesses. We noted that trying to imitate your competitor’s strategy or products rarely works, as each business has its own unique strengths and weaknesses; and the real competitor for any small business is actually the customer’s problem by not other businesses in your industries.
In this concluding part, we will look at three good reasons why small businesses should focus on its customers:
First, it allows small businesses to better understand their target on market. It is vital for small businesses to know who their target audience is and what they are looking for. What makes your customers tick? What are your customers’ pain points? What are they struggling with? How can you make their lives easier? How best can you serve them because you are in the business of solving your customers’ problems. The more time you spend listening to your customers, the more likely you are to understand their needs. This understanding can help you develop products and services that appeal to your target audience. It also helps you identify opportunities for growth, including new product lines or expansion of available ones.
You can use a variety of methods when determining the needs of your target market; interviewing or surveying customers or potential customers about what they want and observing how people interact with your products.
According to Steve Jobs “You have got to start with the customer experience and work backward to the technology. You can not start with the technology then try to figure out where to sell it.”
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