Not identifying customer needs correctly is just like building a house on a weak foundation. Why would you knowingly do that? A good builder will consult an expert that then conducts soil surveys and engages contractors to properly set a solid foundation.
Your customers are looking for businesses that understand their requirements. They are the experts on their problems and you need to ask about these, before you develop new offerings.
Are you listening to your market?
The importance of market research cannot be underestimated. With so many new products and services failing, we need to establish a solid foundation as early as possible. Of course, poor market acceptance can happen for many different reasons.
Just look at the product development and launch cycle and you’ll see that at any of these points there are challenges: gaining customer insight, understanding the competitive landscape, design and development you products or services, channel alignment, rollout planning and execution, and promotion.
But you need to start with a sturdy foundation prior to concept development. Proper customer data mining is the key.
It's an obvious statement to say that market research is about listening to your customers. When identifying customer needs it is very important to ask the right questions, listen, and ask more questions based on the answers. Then absorb what you hear.
"I know that you believe you understand what you think I said, but I'm not sure you realize that what you heard is not what I meant."
This quote is attributed to a U.S. State Department spokesman when answering a reporter’s question at a press briefing. It nicely sums up the problem we have in getting to the root of what customers want. Some of this is because we have biases and preconceived ideas on what they need.
Asking great questions and listening carefully helps to overcome this. Identifying customer needs this way sounds simple doesn’t it? But is it?
Here are the three keys to fully know your customers and set your foundation on solid footing:
The importance of market research in identifying customer needs before your go to market is critical. Let your prospects and customers be your secret weapon.
Share your thoughts and tips. Or tell your story about how you do this for your business.
Other Related Articles You’ll Enjoy Reading:
How Well Do You Know Your Customers and What They Really Need?
Amazing things happen when you truly know your customer base and how they measure success. You’ll develop better solutions to their problems and understand how to sell them.
Build a Powerful Value Proposition Into Your Story
What's your value proposition? You may be surprised how hard it is to answer this. Hint: Product differentiation is just part of the picture
The 7 Keys to Marketing Success
Plan, connect, sell, and then repeat this process.
Free Market Research Sources to Help You Stay Competitive
These free market research sources will help you keep a finger on the pulse of your industry and competitors too.
Marketing Strategies › [Tier 2 Page Name]
Find Another Topic on The Marketing Strategies Guide: