Women's Business Blog

Entrepreneurs Ask: What Do Customers Really Want?

Posted by Vicki Donlan on Tue, May 29, 2012 @ 07:05 AM

The old adage "Give a man a fish and he eats for a day. Teach a man to fish and he eats for a lifetime" may not sound like a quote entrepreneurs should pay attention to, but it should.

If an entrepreneur starts a business that gives a customer something (s)he needs and wants,   (s)he will keep coming back. To be a successful business you need customers that come back.

So ask yourself - does your business offer products or services that require your customer to return for more? Can you change your model so that this is true? Teach A Man To Fish

One of the smartest marketing strategies being used today is the sales receipt that offers something free or a discount on your next purchase at the same store. It encourages repeat business. Kohl's does this very well. I am very willing to go back to a store to redeem a $10 off coupon - particularly if it is with a store or merchant that fits into my shopping routine. Which brings me to another very important marketing strategy for all entrepreneurs: what do your offer that saves your customer time?

The most precious resource/priority of every customer/consumer is TIME! We all have a defined amount of it and we are more careful than ever before at how we use it. It is important that your business offer customers a product/service that saves them or reduces their time. The days of customers wanting more and more attention from their providers is gone. This HBR article Three Myths About What Customers Want shares why customers want less interaction rather than more.

Your job as an entrepreneur is to provide your customers with products and/or services that meet their needs and wants, saving them valuable time and, at the same time, motivating them to keep coming back.

Of course, if this was easy every entrepreneur would be a success ---- but, unfortunately, not every business gets this message.

Start reaching for business success today by looking closely at your business model and changing what you need to to make sure your business sells something that keeps the customer coming back for more.

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Topics: business, entrepreneur, starting a business