A strategic business person is not only responsible for creating a profitable business plan, but also needs to invest considerable amount of time in understanding one's market and prospect. There’s no greater pain than not hearing back from a potential customer. There must have been instances when you would have connected with a customer who seemed awestruck with the deal you offered, and promised to get back in a few days or perhaps weeks. Wasn’t it disappointing to not get the call back? Should you call to know what is causing the delay? Have they dropped their plan to buy from you? Instead of pouring your focus on these doubts, maybe it’s time to reflect on your customer acquisition strategy.
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Perhaps the biggest misconception about customer acquisition is that a successful interaction is a conversion. This is not true! As business owners and salespeople, we have a sense of responsibility towards the evolving needs of our audience. Think about your confidant(s). When you share your problems with them, do they simply respond in one syllable, or try to dig deeper by asking counter questions? These counter questions, or let’s just say the strategy to evaluate the current situation, help them give you the best solution possible. Don't you think the same should be applicable to your business and customers?
What if we understood customers’ apprehensions before they address them? What if we answered the questions they never ask but always thinking about?
Here are a set of three questions that your customers are probably thinking about, but hesitant to ask.
Do you really have the solution that I am looking for?
According to a report published in Harvard Business review, people don’t buy things because of their age, gender or location. They buy things because at some point, while living their regular life, some situation arises in which they need to solve a problem, and so they “hire” or “buy” a product to get the work done. Businesses which are incapable of leveraging on the specific needs of their target group often have to face the wrath of their competition that does. This ultimately leads to disruption and before you know it, more than half of your market share will shift to the competitor who is making all the effort to understand the eloquent needs of their customers and taking effective measures.
Building a strategy around accurate customer data is the first step to gain momentum and sustain the existing force. Whether it’s fix that you’re considering to offer or a revolutionary product, there’s a great chance that your customers have challenges that you can solve with your expertise and ability. All you need to do is empathise with their need and offer them exactly what they are looking for.
Am I getting good value for money?
This is one of the most common, yet neglected aspect of a potential transaction in a business environment. Most businesses simply try to oversell and hence, lose a substantial number of customers in a short span of time.
For instance, if your customers are looking for a service that can manage their property in a different state, providing them with something that only caters to a specific segment, such as furniture placement, cleaning service or lease management, will not do any good. In this case, what they are asking from you is a “complete” property management service catered by a team of professional realtors. The word “complete” is the key to the solution. Under most circumstances, an oblivious salesperson won’t even pay attention to the actual requirement of the client and imperceptibly keep selling the product, which may or may not be relevant to the customer’s actual need. How long can you survive with that strategy? This is just another way to lose a good customer!
Customers want to know that you HAVE what they WANT and that they are paying for a worthy product or service. They gravitate toward people who bridge the gap between their need and acquirement. It is hard to forget and calls for repeated business.
Are you a trustworthy company?
Let's face it, a customer would never ask you whether they should trust your business, but this is one question that occupy their mind as soon as they begin the interaction. Whether you are selling a product or offering services, your client needs clarity that you are qualified to deliver and that you have a good record of delighted customers. An impressive website, complete contact details and genuine customer testimonials usually work best in this case scenario. Here's what you need to do to make a good first impression.
It would be much easier if we could simply read each other’s mind. But until then, the game of anticipation and proactive actions can help create profitable relationships for years to come.