Vancouver Business Coach | What Do Customers Want
When entrepreneurs first opened the doors to their business says Vancouver business coach. They often think that customers want the lowest price. And tried to compete in the marketplace on that factor alone.
Unfortunately, this is not a great idea for many reasons. First, because when they try competing on price alone. They are not going to be running a viable business. Because they may not even be making enough money to cover their expenses.
And even if they are just barely covering all of their expenses. This is not a scalable business model. And they will not be able to grow their business. By constantly selling the lowest price products and services.
As well, Vancouver business coach cautions entrepreneurs. By saying they also will likely not develop a relationship with their customers. And those customers will likely continue shopping there.
As long as they can get the lowest price. And when they can get the products or services for a lower price elsewhere. They will leave, and they will have no sense of loyalty to the business.
Therefore, entrepreneurs should consider how else they can stand out from the competition. Without having to compete solely on price. The way they can do this, is by thinking about who their ideal and likely buyers are.
Many business owners think that everyone can be their customer. That this will not help them develop the focus they need to says many business coaches. To attract customers to their business.
Instead, they should think about who they want as their ideal and likely customers. And then, think about what is most important to those customers. In order to figure out what they can offer in their own business.
Once they know what their ideal and likely customers want. They can focus on delivering that an extremely high level. So that they can not only stand out from other businesses in the marketplace.
But because they will be able to attract your ideal and likely customers. Because they are providing something that they want. However, this is not the only strategy they should utilize.
They can also think about their competition directly. And what they are doing to attract customers to their business. And then provide that better than their competition can.
If entrepreneurs are struggling about how to find the right ideal and likely customer to focus on. It can always make an appointment with Vancouver business coach. In order to help figure this out.
Once they know what makes them unique. The next thing that they should focus on. Is creating an amazing customer experience. The reason why, is because their ideal and likely customers will want a great experience.
And most people will pay a bit more money. In order to have an exceptional experience. And to have great customer service. So entrepreneurs need to ensure that they are providing that consistently.
By figuring this out early on in their business. Ideally before they even open the doors to their business. Will help them find the ideal and likely customers they need. To sell their products and services to to grow their business.
Vancouver Business Coach | What Do Customers Want
When entrepreneurs are talking to Vancouver business coach, they are told to focus on delivering what their customers want. So that they can attract their ideal and likely buyers to their business consistently.
In fact, this is so important. That entrepreneurs that do not do this, are far more likely to fail in business. Because they are unable to find enough customers to be viable, and are forced to shut their business down.
According to industry Canada, who did a survey of small business owners in Canada. They discovered that not only did 50% of small businesses in Canada fail within five years.
But the single most common reason why business is failed. Is because they were unable to find enough customers to sell their products and services to. And while there are likely multiple reasons why they were unable to find enough customers.
Vancouver business coach says it is likely because they did not identifying their ideal and likely buyers. And were unable to stand out in a crowded marketplace. Or, because they thought it would be easier to find customers and did not try and marketing.
Therefore, by understanding what their ideal and likely customers want. And then delivering that to an extremely high level. Can help entrepreneurs figure out their differentiation factors.
That will not only help attract customers to their business. But also help them stand out from their competition. Particularly in a crowded marketplace. To help them sell products and services and remain viable.
In fact, Seth Godin said, in a crowded marketplace fitting in his failing. Not standing out is the same as be invisible. Boring is invisible. Marketable people in products get talked about.
It is so important to stand out from the competition. And have customers notice them. However, without understanding their ideal and likely customers. This is going to be hard to do.
But once entrepreneurs know who their ideal and likely customers are. They also need to focus on creating an outstanding customer experience says Vancouver business coach.
And when way they can do this, is by utilizing all five senses into the customer experience. So that they can have an exceptional experience. That will have them coming back for more products and services.
Think of going to a spa, where there is soothing music being played as soon as customers enter the doors. As well a water feature in the corner, soothing customers with that sound of water.
They also likely have a beautiful smell, such as flowers that can start helping people relax. Perhaps they are offered a delicious beverage, herbal tea or water. Which will continue to elevate their customer experience.
The more senses they use, matter what business they are in. Customers have an amazing experience. That not only are they happy to pay a bit more for. But also, can help them come back over and over. The same amazing experience.