Do you know your customers?

For every business out there, the key to success is having customers, and being able to fulfill their needs properly. You need to know your customers better, in order to serve them well.

One of the main reasons why so many startups fail before they even break-even, is that they don’t understand what their customers want. And for those that do, they fail to fulfill their customers’ needs properly.

If you are in business, these are the key questions that you need to ask yourself;

Do I know my customers?

Do I know what they need?

Am I fulfilling their needs the right way?

Unless you answer these questions effectively, you will not make your business successful. Below are some of the ways in which you can understand and serve your customers well, in order to win in business.

1. Know your customers’ demographics

This is very crucial for any business to succeed. You need to understand the age, gender, education level, etc. This will help you to know how to approach your customers, especially when marketing. Marketing strategies are highly dependent on your target audience. To know your customers’ demographics, you can conduct surveys, or use social media to aggregate customers’data.

2. Know your customers’ problem?

Before you even start serving your customers, you need to know what their problem is. Most businesses fail due to creating products/services, without first understanding what the customer’s problems are. It is crucial to know the customer’s problems, in order to tailor your products/services to solve the customers’ problem.

3. Create a solution to solve the customer’s problem

Once you know the customer’s problems, it is now time to come up with solutions. These differ depending on the customer’s problem, and at times they may even call for outsourcing if you are lacking the skills required. But whichever the case, you must ensure that your product/service solves the customer’s problems.

4. Get customer feedback

After solving the customer’s problems, you need to follow up with the customer to know how satisfied they were with your service. This will also give you a chance to learn where to improve on in future products/services. Where applicable, you can request a customer’s recommendation, to help build your trust with other customers.

5. Offer after-sales support where applicable

This is one of the key ways in which as a businessperson, you can cement the customer’s trust in your services. By being available to support the customer after you complete the sale, you are indicating to the customer that you are reliable, which is a win when it comes to customer relations.

6. Be truthful with the customer

Lastly, when going through the stages listed above, always be truthful with the customer. If you are unable to deliver on time, or you feel the project is beyond your scope, let the customer know. One of the main reasons which make customers lose trust in you is not being honest in the service/product negotiation or delivery.

These are some of the ways that will help your startup grow past and beyond the breakeven, to success.

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