So why do your customers buy from you?
Your customers are free to buy whatever they like from whomever they choose. If you can answer this question, You should be able to keep loyal customers and attract new ones. If you can't, it's time to do some work. The first thing is the value proposition. The value proposition behind a business is the morals and beliefs and thus why and how a business operates. It's a clear differentiator of what separates you from anyone else in your industry. Your value proposition connects what you do best with what your customers need most. The more clear and direct the value proposition you hold, the stronger your customer connection will be and this means more rapid and effective growth.
So how do you make your customers feel for you? There is so much consumer choice around these days that, customers don't buy products that just do the job, they buy products that make them feel something. Safe, special, valued, superior, attractive, secure. Your product is something many businesses can offer. A value proposition is not just about better products or cheaper products. Value is a perception - it exists in peoples' minds. So your value proposition must speak to your customers perceptions. Your value proposition is not WHAT you do it's HOW you do it. If you can make your customer feel their desired feeling you will ensure loyal repeat customers and a business that grows in multiples of ten. As a business owner you stay one step ahead of the game. So rather than hoping or guessing that your customers like your value proposition, create one that they need!
5 ways to establishing an approach to a strong value proposition.
1. Find out What your target customers Want.
What is their cake and icing? The more cake and icing you can solve the more successful you will be. Also find out what they don't want. If you're not adapting in response to your customers you are sending a message that says: 'I don't care'. No customer will give you their loyalty in return for a cold shoulder and bad service. The growth of your business relates directly to how much you LISTEN to customers and how much you ADAPT. Your value proposition must be based on what they want.
2. Stick with it.
Once your value proposition matches your customers' desires, make sure it is present in everything you do. Don't use it here and there. A shallow value proposition will work against you and unwind all your other good doings within the business. Tell and show your customers that you have listened to them. We all like to be heard. Then show them how you have put that knowledge into your value proposition. This will build differentiation between you and your competitors. You will create a niche where there is immense potential for growth and market share. The greater the differentiation, the greater the reasons for buyers to discriminate in your favour. It's then not a, we got to beat our competitor's prices, it's a quality campaign.
3. Give it to them Consistently.
Once you know what your customers want from you, make that consistent with everything you provide. Don't just do it here and there and offer specials. Build that emotional connection into all aspects of your business. From product development right through to marketing, communication, planning and daily operations. Doing this will really cut competition by basking your business in sunlight.
4. Customer service is the champion.
This is probably the most important one. Customer service is an integral part of our job and should not be seen as an extension of it. A company’s most vital asset is its customers. Without them, we would not and could not exist in business. When you satisfy our customers, they not only help us grow by continuing to do business with you, but recommend you to friends and associates. Identify and anticipate needs, customers don't buy products or services, They buy good feelings and solutions to problems. Most customer needs are emotional rather than logical. The more you know your customers, the better you become at anticipating their needs. Communicate regularly so that you are aware of problems or upcoming needs. Connecting what you do best with what your customers need most is the number one guide to customer service. A business owner takes that process further by ensuring the five basics of customer satisfaction are also answered in your value proposition. All of the below are critical in a customer making a decision to buy from you. Especially in their decision to continue to buy from you.
•Time (customers want things sooner and faster)
•Quality (customers want things better)
•Reliability (customers want to depend on)
•Cost (customers wish more for less)
•Consistency (customers wish for good service and quality to continue)
5.Conclusion, Know your competition.
What is the real difference between you and your competition? The assumption that your product is superior is dangerous and will lead to complacency and gaps in the market place. It's not enough to know where the competition is, you have to know where they're heading. Once you understand this it gives you the strength to say, this is what makes us different, this is our value proposition, our differance. The decision to buy is 80% emotional and only 20% logical. So what makes you differant is what will attract customers and bring them back. The better you know your competitors the more specific you can be about what your unique value proposition is. This will put you a step ahead of the game and help with obtaining loyal customers.
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