Welcome to Ask an Expert New Business Series with information provided by Misty Lambrecht, the owner of Webfoot Marketing and Design. "With over 15 years of experience in business startups and advising in Lincoln County, I've learned that it's crucial to gain a clear understanding of your potential customers. By delving into what motivates them, their lifestyles, and their decision-making processes, you can effectively align your business to meet their needs and preferences."
Understanding how your customers shop, including the time of day they prefer, as well
as their values such as organic, green, sustainable, and kid-friendly options, is crucial.
Many buzzwords influence their decision-making process. Take the time to engage with
potential customers in conversations that focus on information gathering rather than
sales. Pose questions that prompt descriptive answers, such as asking about their
favorite college restaurant or coffee shop, or what factors they consider when choosing
a hairdresser. These types of questions can provide valuable insights into your
customers' values when it comes to selecting services like yours.
You can gain even more valuable information by asking these questions to total strangers. To truly understand your customers' behaviors and needs, it's crucial to engage with them directly. Challenge yourself to interact with five unfamiliar individuals who would
potentially seek out similar services to yours. Customer decisions are rarely influenced by price alone. While competitive pricing is undoubtedly important, there are other factors that play a significant role in their decision-making process.
Responsiveness to their needs, commitment to eco-friendliness, and offering locally made products are just a few examples of elements that can attract and retain customers. By considering these aspects, you demonstrate a genuine understanding of your customers' values and can differentiate yourself from competitors. By unraveling the complexities of your target customers' buying decisions, you can refine your business strategy, fine-tune your offerings, and create a strong foundation for success. Remember, successful entrepreneurs are not just passionate about their products or services; they are equally passionate about understanding and meeting their customers' needs.
