As a small business owner, how well do you know your customers? What do you do each and every day to better know your customers? Successful small businesses will cite that the key to their ongoing success is that they understand what their customers want and need. How are you facilitating this process in your small business?
Knowing what your customers want should be a main driver of what you provide, and how you provide it. The phrase “build it and they will come” is not a tag line, it’s actually a recipe for ongoing success. There are many ways to facilitate this process.
First and foremost is talking with your customers. This can be done formally by conducting focus groups or interviewing customers, or done informally by simply talking with customers when they are transacting business with you. Capturing information about what your customers want is only half of the equation. Actually delivering what they want is the hard part.
Small businesses that possess this information and knowledge use it to develop products and services knowing that they already have a market of buyers. Subsequently, they have a much better success rate in attracting and retaining customers.
Often times, small business owners spend their time on everything else other than getting to know their customers. Conversely, successful small businesses will cite that their knowledge about their customers is their most priceless asset for managing and growing their business. Knowing your customers should always be at the top of your to-do list if you own and run a small business.