KNOW YOUR CUSTOMERS

In 1973, Peter Drucker advised business leaders   to “know the customer so well the product fits them and sells itself.”

This may sound like an impossible dream, but in order for a small business to be successful it needs to understand both its own environment as well as how customers in that environment think and act.

The following are several questions that need to be answered:

• Do your potential customers have tasks that could be made easier?
• What kind of problems can your product/service solve?
• What are the motives that drive buying decisions for your target market?
• What value does your customer place on price?
• What other forces, i.e. technology, social, financial, affect your customers?

Without the customer’s desire or need, there is no impetus for customers to buy your product/service. Remember that when your customer buys something, he is not thinking about the product or service itself, but about the usefulness of it to themselves. Remember, value lies in the problem solving ability of the purchase.

Technology has made online information readily available to help small business owners gather the needed information. Social media and online communities have encouraged people to define themselves by an ever more specific set of characteristics, likes and dislikes.

Spend some time searching for information on your target market, it will help you improve the “selling” communication with your customers.

Work harder than you think you did yesterday!