Business Mentor: Do you know what your customers want?

Armando Bartolome

Posted at Aug 06 2022 09:41 AM

Entrepreneurs should keep in mind that for their business to remain afloat, they need to focus on what their customers want. Entrepreneurs should have the products and services that are solutions to the problems of their target market.

It is sad how some entrepreneurs have overlooked this important factor when the success of their business relies on how the customers will support their business. Some companies think that they know what the customers want, but don’t “listen.” 

So, how do we improve the way we provide our products and services to the customers? Let me share with you some tips.

1. Identify who your best customers are. When we talk about the best customers, we are not referring to the celebrities who randomly check out your store and buy something. The best customers are those who have the highest lifetime value, and highest average order value, and have the best results from your products and services. 

Customers with the highest lifetime value and average order value are those customers who frequently buy from you. In our native tongue, “suki”. You can check on this by using your POS system. Customers who have the best results from your products are those who leave positive reviews after purchasing from your store. You can know the results if you have an existing website or an active social media account where your customers can share their experiences online. 

2. Provide a suggestion box by the counter so that your customers may share with you their insights on their shopping experience. You may have a great vision of your products and services. However, some people may feel that it may need a bit of improvement to make them stand out. This is why asking about others’ views about your business can be helpful. And who could help you best? Of course, your customers. There are customers who just want to see their favorite store succeed. And helping them with a few insights may just be the key to a longtime success in the business.

3. Send an email. While most businesses have used this tool in letting their customers know about their latest offerings, it is also a good way of checking on your customers by sending them a personal email. Ask them how they knew about your business and what has been their experience so far. Gather all the data sent back to you by responders as it can help you modify how to run the business and create products and services that are more appealing to your customers.

4. Let your customers fill in a survey form which will allow you to know how they feel about the business and its offerings. You can have the responses right away when you give these forms while they are paying for the things that they have purchased. Remember to keep the survey short, thus only asking important questions. 

The results of the survey may astonish you! It can help you make better choices that can encourage more customers to support your business. One fun way too is to create a small campaign wherein you can announce through social media that whoever has shared the most interesting idea can win something like a voucher or a free item. So, this is like hitting 2 birds with one stone!

5. Never disregard any negative feedback. I believe that a dissatisfied customer is a way of finding what is wrong and being able to fix the problem. Keep in mind, though, that when you solve a problem, it should not be just a momentary solution, but a permanent solution so that the problem does not recur ever again. Some entrepreneurs just shrug off negative feedback, while others feel disheartened. Filter all feedback and determine what is serious from nuisance comments. Once you have identified all pertaining to their real experience, determine how to sort out the problem and go ahead in rectifying the issue.

It is always important to listen to what your customers say. Even if we think that we have the best plans laid out, still, sometimes, we may have overlooked something which may be important. And that is where others’ perspectives come into play. Your customers opinions should be heard to help improve your products and services.

------------------------------------
For more information, you may contact Armando "Butz" Bartolome 
by email: business.mentor@butzbartolome.com
FB Page: Butz Bartolome
website: https://www.butzbartolome.com