It’s no secret that customers are the lifeblood of every business, so wouldn’t it be in your best interests to know what’s important to them?
Knowing the specific things that are important to your customers is key to running a successful business, but you’d be shocked at how many entrepreneurs don’t have a grasp on what those things are. In fact, you may know less about what’s important to your customers than your think. Recently, I looked over a study in which customers were asked what was most important to them, and they ranked six of them in order of preference. Today, I want to go over that list and discuss how you can make the most of it.
What’s Important to Your Customers: Convenience
You go in, you buy what you need, and you’re done. That’s the ideal process that every customer wants, and it’s in your best interest to put as few obstacles in the way as possible. Streamlining this process makes for a pleasant, easygoing customer experience, the ideal strategy for bringing them back again and again. In this increasingly fast-paced world, this is more relevant than ever.
The increasing prevalence of online shopping–particularly the rise of Amazon over the past decade–is indicative of this fact. Customers no longer need to find the store with the item they need and hope it’s still there by the time they arrive. What’s important to your customers now, more than anything else, these days, is that all it takes to complete an order is a few clicks of a button, and then they don’t have to worry about it until it arrives. Human nature brought about this change naturally, so if you make it as easy as possible for customers to get what they want from you, you’re already doing the right thing.
What’s Important to Your Customers: Choices
Not far behind convenience, customers want a wide range of options when it comes to what they’re looking for. Flexibility goes a long way in keeping the customer satisfied at all points in the sales process. With this in mind, as you take inventory of your products, you’ll want to offer a “Good, Better, or Best” option.
Having choices like these will not only make customers feel more comfortable, but will also demonstrate your expertise–you understand each option and what they can do, and in doing so, you’re viewed as more reliable. Plus, when it comes to pricing (more on that later), your customers won’t feel restricted and will be less likely to seek out the same product elsewhere. Presenting a customer with a Good, Better, and Best option gives them a much greater sense of freedom, and generally, a much more positive shopping experience.
What’s Important to Your Customers: Peace of Mind
I’ve said this a million times before, and I’ll say it again now: When a customer comes to you, they have a problem that they want you to help them solve. If you solve that problem for them, you’ve boosted your reputation and likely gained a loyal customer.
Your goal is to make sure your customer walks away from a sale satisfied with their purchase and not having to worry about the problem they’re trying to solve. Everyone wants peace of mind, but that’s easier said than done. If you can provide that for your customers, you’re running your business effectively.
Keep in mind that your business may not necessarily be what they’re looking for. If you’re open and honest with them and are able to point them in the right direction, even if that direction is away from you, you’re building trust. Even if that doesn’t help you at the moment, there’s a good chance it can help you later, and in the end, long-term strategy is what keeps businesses healthy.
What’s Important to Your Customers: Value
What feels worse than making an expensive purchase that wasn’t at all worth it? Not much, I can tell you that. When making any kind of purchase, whether it’s for a product or a service, what’s important to your customers is feeling like they’re getting the most bang for their buck.
Whatever you’re selling to your customers, you need to make sure that they feel like they’re getting considerable value out of it. Nobody wants to feel like they’re having their time or their money wasted, so why not go out of your way to make sure your customers don’t feel that way? You can make your customers feel like they’re getting maximum value out of a purchase in many ways, including discount prices, bundling of services, and more.
Most importantly, however, if you want your customers to feel like they’re getting the most out of their purchase, you need to revisit the point I made in the last section: Solve their problems. When your customer comes to you with a problem and you’re able to solve it, they’ll feel like they got their money’s worth right there. As you move forward, especially into the holiday season a few months away, be sure to keep this in mind.
What’s Important to Your Customers: Quality Customer Service
It’s a sad fact today that high-quality customer service had become increasingly rare, and the pandemic hasn’t made this problem any better. While this is a disappointing trend, it actually gives you an advantage if you’re able to provide good customer service–it goes much farther today than it would have several years ago.
This ties into everything else we have discussed so far. You want to take care of your customers, help them solve their problems, and tend to their needs without pushing them. Even if your business isn’t what they need at the moment, direct them to a place where they can more effectively solve their problem. If your customers feel like they’re being taken care of, and you leave a good impression, it’s all the more incentive for them to come back to you down the line. Again, in today’s atmosphere, good customer service goes a very long way, so focus on that and you’ll be leagues ahead of your competition.
What’s Important to Your Customers: Pricing
You read that right: On the list of what’s most important to customers, pricing came SIXTH. This may seem like it doesn’t make sense, but the fact of the matter is that very few customers make their decisions on price alone. Online shopping has done a number on local retail stores, not just because of convenience, but because of competitive pricing. However, as we just discussed, low prices aren’t everything. There are FIVE other major elements that customers consider to be more important. If low prices are your only selling point as a business owner, you have a problem.
You may be offering the same thing as your competitors, and it may be at a lower price, but as we’ve just seen, the price isn’t as high on the priority list for customers as you might expect. If you do everything else well enough, competitive prices won’t be as much of an issue.
As you go through this list, take note of what you’re doing (or not doing) to accommodate your customers in these ways. Knowing what’s important to your customers will allow you to adjust your business model in ways that fully maximize your profits and allow your business to thrive. Remember that a good idea combined with action lead to massive profits, so use what you learned today to make the most of your business model.