Understanding Your Customers
The inability of understanding your customers is the greatest loss, you, as a potential service provider can face. Since you are nothing without your customer, your first priority should be to know them and what they want and expect from your company or product.
Moreover, knowing them not only increases your chances of selling them more goods, leading to your profit, but also causing the inflow of more customers through recommendation. Hence getting to know your clients, greeting and treating them to their liking is crucial to the success of your business venture.
This kind of rapport with your client is even more essential if you keep in mind the nature and the degree of aggressive marketing your fellow business rivals conduct everyday. Your primary asset in business are your clients, this is because if you know their mentality and gauge their buying trends and their preferences, you have the market in hand.
This kind of valuable customer information will also enable you to replenish stock, get the most viably trendy products in the market, thereby satisfy your customers and in the process entice them into come back again to be serviced.
Moreover not knowing your customers will only hinder your chances at success to a greater degree because if you do not know what pleases your customer, you will never know how to approach them. Some might like curt matter of fat dealings, while another might like that occasional chitchat and “hello.”
So if you do not know who likes what you will only end up causing them dissatisfaction and yourself economic loss, due to sheer ignorance and simple lacking of planning. Moreover if you sit down and think about it this abstract ‘market’ that you talk about is no one but the sum total of your customers. So if you want to target the market, then this is the bunch you have to satiate and cater to.
What your customer says is very important for you and your overall success. After finishing one deal you instinctively try to convince them to buy something else; this is only natural and can be called maximizing profit.
But what you should also be doing simultaneously is trying to egg out information about their economic status, what they can afford and what not, what thy need next in their household which might come from your shop.
All this will help you in fixing future deals with them and wooing them back to your shop. So always engage in conversation with them and most importantly listen to them, they might be unconsciously divulging information that might eventually give you an edge over you’re your next door rival service provider.