We often think that all we need is to create excellent products and find customers. That can be another way to look at it, but it’s not the right way to build a profitable business. That’s merely focusing on you and not your customers.
If you want to build a business around your customers, then it has to be about them, not you. That means you can’t create any product or service unless you are solving their challenges.
By following the latter, you will be creating products and services that have a ready market aka a highly profitable business.
We often try to identify the best tools and other resources that can bridge the gap between our customers’ problems and the solutions.
For example, I learned that even though I was good in automation and was teaching people all about it, I realized that they needed a platform that can enable them to achieve whatever I was teaching them.
Yes, it wasn’t right teaching automation and referring my students to tools that can’t do the work. And even if they work, they might not offer all the features needed for automation. The end result is we were referring them to more than one tool.
I thought, why can’t I develop an all-in-one automation platform? That’s when the idea of The Automation G.O.A.T. came to be. It’s a customer-centric, all-in-one automation platform with the right tools and resources to automate your business processes from lead acquisition to fulfillment.
Why develop a business around your customer
Why do you need to do this?
Improves their experience
One of our main objectives as the Big Marv brand has always been improving our customer experience. And by developing our business around our customers, we can achieve that.
That means we know the type of solutions we are bringing into the marketplace, the people we are serving, how we will solve the problems, and where we will solve them.
Every element in our business operational environment is poised towards that common goal. Even our sales funnels are streamlined to ensure the customer’s experience is unforgettable.
Do you have a business website?
Ensure it contains all the information the customer needs before making a decision. That includes your ‘why,’ which is your value proposition, and the kind of services or products you are selling.
Avoid junk elements on your website that could ruin your customers’ experience. Let everything be in line towards fulfilling your customer needs.
With improved customer experience, what follows is high conversion rates and faster business growth.
Increase the retention rates
Nothing retains customers more than knowing that they are being valued. Everybody wants someone who can understand their problems. Unfortunately, about 60% of customers feel they are not being understood.
If you offer an excellent user experience, the customers will keep buying from you over and over again. They will become loyal to YOUR brand.
Let’s say, for example, you offer them a value-packed lead magnet. They will feel that you have helped them solve a problem making losses for them.
Since they are on your email list, you will opt to present a comprehensive mini offer that tackles the same problem or a different one. Most of them will buy if the lead magnet was valuable to them.
The end is a pipeline of hot leads that convert on autopilot.
If you look for solutions to your audience’s challenges, you won’t be like someone creating products and services of a market that doesn’t exist.
But for someone with a ready market, you have no problem getting customers since you know precisely what your current audience needs. So, a customer-focused business will grow and reach its break-even point (BEP) faster.
How can you do this?
- Data is the new oil
Most big tech companies realize they can’t do a lot without understanding their customers’ needs. So, they have devised ways to capture all their interactions with certain elements online and use that to create a seamless experience for them.
That’s what companies like Google and Facebook are doing. Google allocated about 7 Billion of its budget into data, mainly collection, analysis, and interpretation.
Data is an essential element in marketing and innovation. It helps you make profitable and less risky decisions since you already know the event’s outcome.
- Customize their experiences
The moment you have data about your customers, it becomes easy to customize your solutions for them. That means you can customize how they interact with your app, website, and other essential business elements.
If you know that your audience is having a challenge when it comes to Facebook ads precisely, you can customize your course to fit precisely that.
And if you realize that most of them haven’t clicked a CTA to purchase your new course about branding, you will know that they aren’t into branding. That’s the benefit of having data; it enables you to make profitable decisions easily.
- Get feedback and improve
Once you customize your products and services, you just need to monitor the processes and see where you can improve. You see, customers’ lifestyle patterns are changing. That affects their buying behavior.
An entrepreneur’s most important thing is never to stop experimenting and innovating new solutions to alleviate customer pain points and grow their businesses.
You can get feedback through surveys, email replies, or just collect data from the cookies installed on their devices once they log into your site. With the feedback, you improve and grow your business.
When you are working towards developing a business around your customer, it’s essential that you collect data first before making any business move. With data, you will know exactly how to customize your products and services to meet users’ needs.
Want to learn more about building a profitable business around your consumers? Hop into the Wavemakers group and let’s make some waves together!