Category: Customers & Products

Do Your Products Provide The Right Customer Benefits?

HELP-WANTED-10-600x319 Do Your Products Provide The Right Customer Benefits?

Do Your Products Provide The Right Customer Benefits?

Do your products give your customers the real help that they want and need?

Do your products improve the lives of your customers?

Do your products match the needs and wants of your target customers?

Your CUSTOMERS will buy your PRODUCTS because they want the BENEFITS and HELP that these will provide;  if every entrepreneur provided the right customer benefits, sales and business profits would be boosted.
When I talk to business people, I am often conscious that they don’t THINK ENOUGH about the BENEFITS their PRODUCTS provide for their CUSTOMERS. I have talked about the top 10% businesses many times on this site and much of their SUCCESS is because they THINK ‘BENEFITS’ when they THINK about their PRODUCTS.
If YOU can do the same and THINK about the BENEFITS that your PRODUCTS will provide to your CUSTOMERS when YOU PLAN YOUR PRODUCTS, it should make YOU create or provide BETTER PRODUCTS that MATCH your CUSTOMER’S NEEDS BETTER. I have talked about MATCHING before, saying that YOU SHOULD MATCH YOUR PRODUCTS TO YOUR TARGET CUSTOMERS.
The better your products match the needs and wants of your customers, the greater your sales and profits will be.

 

Ask Yourself Several Big Questions

There are several BIG QUESTIONS that I have always asked myself in all my businesses and the first is:-
WHAT BENEFITS AND HELP DO MY PRODUCTS GIVE TO MY CUSTOMERS?
YOU should do the same and write down a list of BENEFITS.
Then ask yourself ONE OTHER BIG QUESTION:-
ARE THESE THE RIGHT BENEFITS THAT MY CUSTOMERS WANT AND NEED?
Answer this honestly and then ask yourself another BIG QUESTION:-
ARE THEIR BENEFITS THAT MY CUSTOMERS WANT AND NEED THAT MY PRODUCTS DON’T FULLY PROVIDE?
If there are significant BENEFITS that your CUSTOMERS WANT and NEED from your BUSINESS and your PRODUCTS that they don’t presently get from YOU, YOU should THINK to maybe CHANGE or MODIFY your PRODUCTS or introduce NEW PRODUCTS that will provide those BENEFITS.

 

This Is Why Smart Business Thinking Is So Important

This is why SMART BUSINESS THINKING and SMART BUSINESS ACTIONS are so important – they both force YOU to ANALYZE your PRODUCT OFFERINGS CRITICALLY.
BETTER PRODUCTS SHOULD THEN FOLLOW, which should, in time, INCREASE SALES.

 

You Should Also Ask Your Customers

YOU should also TALK to your CUSTOMERS and ASK them about your PRODUCTS. Businesses are VERY POOR at TALKING to their CUSTOMERS, especially the 90% who RUN MEDIOCRE BUSINESSES.
I have always TALKED to my CUSTOMERS and I have always learned so MUCH –  it has enabled me to always PROVIDE THE RIGHT BENEFITS to my CUSTOMERS and the process has always enabled me to achieve HIGH SALES with all my businesses.

HELP-WANTED-10-600x319 Do Your Products Provide The Right Customer Benefits?

 

Set Yourself the Objective To Provide The Best Benefits

YOU must SET yourself THE OBJECTIVE to PROVIDE the VERY BEST BENEFITS to your CUSTOMERS.
As part of that, ASK yourself and your CUSTOMERS about the PRODUCTS that YOU presently offer and ask them about the BENEFITS that your CUSTOMERS WANT and NEED from your BUSINESS and whether your products satisfy those wants and needs.
YOU should then formulate CHANGES to your PRODUCT RANGE and INTRODUCE these as part of your business plan-  your REVENUE SALES should then GROW SIGNIFICANTLY, as a result.
If YOU wish to discuss this article more fully with me, then please email me at robert@prestigebusinesscoaching.co.uk or please contact me below:

Contact-Robert Do Your Products Provide The Right Customer Benefits?

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Your Customer Is King - RUN YOUR BUSINESS AROUND YOUR CUSTOMER TO ACHIEVE GREATER SALES

HAVE TOTAL CUSTOMER FOCUS

HAVE TOTAL FOCUS ON YOUR CUSTOMER

I have always achieved HIGH SALES AND HIGH PROFITS for my businesses by having TOTAL FOCUS on my CUSTOMERS and by RUNNING my businesses around my CUSTOMERS.

Your-Customer-Is-King-2-350x350 HAVE TOTAL CUSTOMER FOCUS

Comprehensive Understanding Of My Customers

I have always put a massive amount of effort into KNOWING & UNDERSTANDING my TARGET CUSTOMERS.  This is the starting point of TOTAL CUSTOMER FOCUS.

With this knowledge & understanding, I have been able to provide the RIGHT PRODUCTS for my CUSTOMERS at the PRICES that they wish to pay, using CUSTOMER SERVICE methods that really work and creating a GREAT CUSTOMER EXPERIENCE.

I have also made my MARKETING highly effective by reaching my TARGET CUSTOMERS allowing me to communicate very efficiently with my future and present CUSTOMERS.

My Businesses Have Then Been RUN Around My Customers

With TOTAL FOCUS on creating the following, it has been able to RUN my businesses VERY EFFECTIVELY, creating HIGH SALES and HIGH PROFITS.

  • THE RIGHT PRODUCTS
  • THE RIGHT PRICES
  • THE RIGHT CUSTOMER SERVICE
  • THE CUSTOMER EXPERIENCE
  • THE RIGHT MARKETING
  • THE RIGHT CUSTOMER COMMUNICATION

But it has always started with KNOWING and UNDERSTANDING my TARGET CUSTOMERS.

Ask yourself, now the following questions:-

“Do I really know my customers?”

“Who are my target customers?”

Then try to RESEARCH and UNDERSTAND your CUSTOMERS as well as YOU can and put your knowledge and understanding into ACTION.

If YOU wish to discuss this more fully with me, then please email me at Robert@prestigebusinesscoaching.co.uk

Or please leave me a comment below.

REMEMBER  –  SMART BUSINESS THINKING AND SMART BUSINESS COACHING

NEWSLETTER-350x350 HAVE TOTAL CUSTOMER FOCUS

Know And Understand Your Target Customer

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Know And Understand Your Target Customer

I frequently ask business owners who their TARGET CUSTOMERS are and, in the majority of cases, I get a vague answer which tells me that the majority of business owners do not KNOW who their TARGET CUSTOMERS are.
About 10% can give me a very concise answer which tells me that these owners KNOW who their TARGET CUSTOMERS are.
But what is very interesting to me is that the businesses who do KNOW AND UNDERSTAND THEIR TARGET CUSTOMERS best, are the businesses that are the MOST SUCCESSFUL –  the top 10%, that I have talked about previously.  The businesses that DON’T KNOW WHO THEIR CUSTOMERS are, are always the MEDIOCRE businesses with MEDIOCRE SUCCESS.
You must know and understand your target customer.

But There Needs To Be Understanding, too

When a business owner KNOWS WHO THE TARGET CUSTOMER is, he or she can UNDERSTAND that customer, too.
And, this is vital.

Business Success Is Proportional To Knowing & Understanding Your Target Customer

Business SUCCESS is proportional to CUSTOMER KNOWLEDGE AND UNDERSTANDING – the greater a business owner KNOWS and UNDERSTANDS THE TARGET CUSTOMER, the GREATER THE BUSINESS SUCCESS.
To be one of the TOP 10%,YOU NEED COMPREHENSIVE KNOWLEDGE AND UNDERSTANDING of your TARGET CUSTOMERS.

Knowledge & Understanding Of Your Customer Is A Gold Mine

Comprehensive KNOWLEDGE and UNDERSTANDING of your CUSTOMERS is a GOLD MINE to YOU –  a license to print money within your business.
This KNOWLEDGE and UNDERSTANDING will allow YOU to do the following:-
  • Supply the RIGHT PRODUCTS
  • Supply the RIGHT CUSTOMER SERVICE
  • Sell at the RIGHT PRICE
  • Use TARGETED MARKETING effectively
  • COMMUNICATE effectively

Your KNOWLEDGE and UNDERSTANDING can allow YOU do so much.

How Well Do You Know & Understand Your Customers?
Do YOU know and understand your customers well?
The chances are YOU do NOT!
Change your THINKING now –  take 10 minutes, now, and write down who YOU THINK your TARGET CUSTOMERS are:-
  • Are they business customers or members of the public?
  • What gender are they?
  • What age group are they?
  • What occupations do they have?
  • What spending power do they have?
  • How large is the main group of customers?

Here are just a few questions, you should ask yourself.

Then, YOU should ask yourself more questions:-
  • What help or benefits do they need and want?
  • What products will they buy?
  • How many products will they buy?
  • What will they pay for these products?
  • What customer service can they expect?
  • How often will they come back to buy more?
  • How do I contact them with my marketing?
Once YOU start to do this exercise, more and more questions should come into your MIND and each ONE must be answered by yourself –  the more questions and answers that YOU create, the greater your KNOWLEDGE and UNDERSTANDING of your TARGET CUSTOMERS will be.
Your KNOWLEDGE and UNDERSTANDING has to be so COMPREHENSIVE and in such DEPTH that YOU can literally put yourself into their shoes and THINK as they THINK.
When YOU have achieved this, YOU are then in the position to give your TARGET CUSTOMERS exactly what they want.

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Set Yourself The Objective Of Knowing & Understanding Your Customer

Change how YOU THINK about your CUSTOMER now –  set yourself the OBJECTIVE of KNOWING AND UNDERSTANDING YOUR TARGET CUSTOMER COMPREHENSIVELY.
Then make CHANGES to the way YOU DO THINGS and see how your CUSTOMER NUMBERS and your SALES RISE.

You must know and understand your target customer.

If you wish to discuss this more with me, please email me at Robert@prestigebusinesscoaching.co.uk or contact me below:

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Put Your Customer At The Heart Of Your Business

PUT-YOUR-CUSTOMER-AT-THE-HEART-OF-YOUR-BUSINESS Put Your Customer At The Heart Of Your Business

Put Your Customer At The Heart Of Your Business

Run Your Business Around Your Customer

If YOU have read my article ‘Your Customer Is King’, YOU should now think that your CUSTOMER is the MOST IMPORTANT PART of your business –  your CUSTOMER must be at the HEART of your business & you must prioritize achieving CUSTOMER LOYALTY.

If YOU are starting a new business or YOU are already running a business, YOU must THINK this.

Your business must be built around your customer.

Related Reading: Your Customer Is King!

 

Without Your Customer, You Have No Business

Your business SUCCESS and your PROFITS are directly related to how many CUSTOMERS buy from YOU, how much they buy from YOU and how much they spend with YOU.

If YOU only have a MEDIOCRE NUMBER OF CUSTOMERS buying a MEDIOCRE NUMBER OF PRODUCTS from YOU and SPENDING only a MEDIOCRE AMOUNT of MONEY with YOU, YOU will only have MEDIOCRE BUSINESS SUCCESS and a MEDIOCRE PROFIT.

But have a HUGE ARMY OF LOYAL CUSTOMERS buying LOADS of your PRODUCTS and have this HUGE ARMY OF LOYAL CUSTOMERS returning to your business, repeatedly to keep BUYING MORE, SPENDING LOADS of MONEY with YOU, then YOU will take your business away from MEDIOCRITY into being a MASSIVE SUCCESS with MASSIVE PROFITS.

 

Change Your Thinking

You must CHANGE YOUR THINKING –  THINK to put your CUSTOMER at the HEART of your BUSINESS and RUN your business around your CUSTOMER.

The place to start is to IDENTIFY a LARGE group of your TARGET CUSTOMERS for your business. YOU should then IDENTIFY what HELP MOST of them need from your business.  Then, YOU should PROVIDE the right PRODUCTS that will HELP MOST of them.

When YOU are happy that MOST of this LARGE GROUP of TARGET CUSTOMERS will repeatedly buy from YOU and become LOYAL CUSTOMERS and SPEND LOADS of MONEY with YOU, YOU should THINK about the PRICE that they will pay.

Some quick numbers should then follow, taking into account an estimate of what your REVENUE SALES and COSTS will be –  if your business proposition looks very VIABLE with MASSIVE PROFITS likely, then YOU should consider continuing with your business idea.

But only if MASSIVE PROFITS are likely.

 

Take Your Thinking Further …

YOU should then take your THINKING MUCH FURTHER –  YOU should THINK how YOU can OPTIMIZE SALES with your group of TARGET CUSTOMERS.

YOU should THINK about:-

  • ESTABLISHING GOOD CUSTOMER TRUST
  • PROVIDING EXCELLENT PRODUCTS
  • PROVIDING EXCELLENT CUSTOMER SERVICE
  • PROVIDING EXCELLENT CUSTOMER EXPERIENCES
  • CREATING MASSIVE CUSTOMER SATISFACTION
  • PROVIDING TARGETED MARKETING THAT WORKS
  • PROVIDING EFFECTIVE CUSTOMER COMMUNICATION

Your TARGET CUSTOMERS will only buy from YOU, if YOU get these RIGHT, too.

CUSTOMERS will only buy from YOU, if they TRUST YOU, your BUSINESS and your PRODUCTS.  Your CUSTOMER SERVICE has to be EXCELLENT and must be modelled on the CUSTOMER SERVICE that your CUSTOMERS want from YOU.

Ultimately, though, you have to equal or exceed your customer expectations and give them an EXCELLENT CUSTOMER EXPERIENCE – then your CUSTOMER SATISFACTION rating will be high.

Achieving an EXCELLENT CUSTOMER SATISFACTION has to be your overall OBJECTIVE with all this.

YOU must also THINK about having the right TARGETED MARKETING and GOOD CUSTOMER COMMUNICATIONS for procuring and keeping your TARGET CUSTOMERS –  this must involve TELLING YOUR CUSTOMERS what they want to hear.

 

Most Small & Medium Sized Businesses Don’t Think Like This

Most small and medium sized businesses don’t THINK in this way and they don’t put their CUSTOMERS at the HEART of their businesses.

If YOU are one of these –  CHANGE YOUR THINKING NOW!

Set a NEW OBJECTIVE:

PUT YOUR CUSTOMER AT THE HEART OF YOUR BUSINESS AND MODEL AND RUN YOUR BUSINESS AROUND YOUR CUSTOMER.

If YOU wish to discuss this further with me, please email me at robert@prestigebusinesscoaching.co.uk

or contact me here:

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Have A Positive Attitude For Success

6 Ways To Achieve A More Positive Attitude

6 Ways To Achieve A More Positive Attitude

When asked, the most successful business people say that a strong, positive attitude has been more important to their success than their ability. Havard Business School has consistently reinforced this view by saying that a strong mental ability is more important than ability for attaining meaningful business success.

So how positive is your mental attitude?

PositiveAttitude-300x251 6 Ways To Achieve A More Positive Attitude

Having a strong, positive mental attitude can give you much including having strong mental and physical energy, more clarity in your thinking and more creativity in your thinking and your actions. You will also bounce back quicker from set-backs, have a greater influence on everyone in your life, including your customers and your employees and, importantly, be less stressful.  Generally, the more positive that you are, the more successful you will be in your business.

I have found the following 6 ways work really well to create and enhance a strong, positive attitude:-

  1. Be optimistic
  2. Kick out negative thoughts
  3. Look to the future
  4. Don’t have problems but have challenges
  5. See the good in everything
  6. Learn from your mistakes

BE OPTIMISTIC

Being OPTIMISTIC is a great boost to POSITIVITY and can come from belief in your own ability to succeed and the confidence to know that you will succeed. If you have doubts about your success, keep saying to yourself: “I CAN DO THIS.”

KICK OUT NEGATIVE THOUGHTS

If you have doubts in your ability, these are NEGATIVE THOUGHTS and these along with other negative thoughts will diminish how POSITIVITY.   Whenever you have a negative thought enter your mind, you should think to ‘KICK IT OUT’ and replace it with a POSITIVE or a HAPPY thought.

LOOK TO THE FUTURE

You should always look to the future and NOT THINK about the past –  what has happened has happened and is the past and worrying about it will deflate your POSITIVITY.  Try thinking about your goals and targets in the future rather than worrying about the past.

DON’T HAVE PROBLEMS

Positive people don’t have problems, instead they have CHALLENGES and rather than thinking: “I can’t do that”, they instead think: “This is going to be difficult, but how is the best way to proceed?”

SEE THE GOOD IN EVERYTHING

Try and think that something GOOD always comes out of something BAD and always try to see the good in everything. Life does not always go to plan and there will be set-backs and you will make mistakes, but don’t dwell on these, instead bounce back quickly and continue to move forward. You should analyze what went wrong and learn from the situation and don’t repeat the mistake.

FAILURE IS PART OF SUCCEEDING

Successful people think that failure, set-backs or mistakes are all part of learning and are part of the success process and you must think the same. Set-backs are there for a reason and you should see the good, positive side in every one.  Learn from each and move on.

THESE WAYS DO WORK

It takes a short while to develop these ways, but believe me these do work when put together. Just change your thinking to be more positive and you will be surprised how much better you start to feel.

If you would like to talk more about this with me, please contact me at Robert@prestigebusinesscoaching.co.uk.

Or leave a comment a below:

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Don't Make The Same Mistake As Marks & Spencer

Don’t Make The Same Mistake As Marks & Spencer

Don’t Make The Same Mistake As Marks & Spencer

How well do you know and understand your customers? –  hopefully better than Marks and Spencer!

Early in January 2016, Marks and Spencer reported poor non-food sales, while their food sales did really well.  Here, Marks and Spencer demonstrates brilliantly how important it is to KNOW EXACTLY WHO YOUR TARGET CUSTOMERS are, if you are to optimize your sales.

mS Don't Make The Same Mistake As Marks & Spencer

On the food side of the business, the products offered are exactly what the customers want from Marks –  the business knows and understands their TARGET CUSTOMERS and they know what PRODUCTS these customers want.  And, through this knowledge, they are able to target these customers well with their marketing.  The result is and has always been good food sales.

NON FOOD SALES ARE POOR!

But on the non-food sales, Marks does not enjoy the same success and the reason is very simple  –  they do KNOW and UNDERSTAND who their TARGET CUSTOMERS are.  Women’s clothes has always been the major part of non-food sales, but there is a real disconnect here in how they approach this, the biggest part of their market.  For years, the TARGET CUSTOMER has been the woman over 55, yet they don’t offer the PRODUCTS that this age group want to buy.  Instead, they offer clothes that are based on the fashions from the ‘catwalk’ aimed at younger women.  What’s more, their marketing reflects this, too  –  it is targeted at the younger woman.   This age group tend not to shop at Marks and Spencer, preferring outlets such as Next. And, even those of this age group who do shop in Marks and Spencer say there is nothing for them there to buy.

One BIG FACT that Marks and Spencer seem to miss is that daughters do not buy clothes in the same shops as their mothers buy their clothes from. Marks should let Next deal with the daughters, while they supply their mothers.

When you look now at the clothes offered to women by this business, I think there is a vast and confusing choice, which they are hoping will appeal to women between the ages of 20 upwards.

I am not the only expert to say this, most retail industry experts have the same view. If Marks and Spencer were to accept that their TARGET CUSTOMER is the over 55 age woman and accept they must offer clothes that this age group want to buy, that would be a good FIRST step.   But they have to go further  –  they have to engage with these women, very comprehensively, and ask them EXACTLY what they want from Marks and Spencer.

Then, when they offer the clothes that they are told to supply, customer numbers would improve and sales would recover, too.

THEY NEED TO RESEARCH HEAVILY

I think if they were to RESEARCH heavily what this age group want in terms of lifestyle clothing, they may well find that women in their early 50‘s and 40’s would also buy these clothes, too, and this would still give them a very broad CUSTOMER TARGET range, but not as broad as what they are offering now. The result would be a much better shopping experience for their TARGET CUSTOMER with a smaller, less bewildering range of clothes aimed at a smaller group of customers.

YOU MUST BE DIFFERENT

YOU MUST BE DIFFERENT TO MARKS AND SPENCER –  YOU MUST KNOW AND UNDERSTAND YOUR TARGET CUSTOMER.

Then, from that UNDERSTANDING, you must ensure your PRODUCTS are exactly what your TARGET CUSTOMERS NEED and WANT and you must ensure your MARKETING is TARGETED exactly at those TARGET CUSTOMERS to tell them about you and your business.

  • KNOW & UNDERSTAND YOUR TARGET CUSTOMERS
  • SELL THEM EXACTLY WHAT THEY WANT & NEED
  • MAKE YOUR MARKETING TARGET THESE CUSTOMERS

This is the SMART way to do business –  but, what amazes me is that Marks and Spencer are not the only ones to make this BIG MISTAKE  –  don’t let that be you.

THINK SMART, ACT SMART!

NEWSLETTER-300x300 Don't Make The Same Mistake As Marks & Spencer