If you’re in business the one thing you MUST know is: “What does your customer really want?” If you want to blow the competition away and gain market share, information will be your asset. And there’s no excuse for not knowing this information. In fact EVERY successful marketing plan comes down to these two essentials:
- Knowing the market you’re in inside and out, including what customers want and expect
- Knowing the way to satisfy customers by knowing competitors, barriers to entry, costs, outside influences, budgets, knowledge, etc.
When researching what does someone who’s going to do business with you wants, the first step would be to tune into their favorite radio station WIIFM- What’s In It For Me?
Yes, we are all selfish, especially your customers, so your goal should be to find the benefits of your product or service that will meet the desires of your customers. And you do that by answering these three questions:
- What does a customer who will benefit from my service or product really want? Is it to be happy, safe, wealthy smarter, or etc.
- How am I remarkable? Are you an open, transparent company or closed behind the scenes? Are you new and cutting edge or proven and established? Are you the fastest or the slowest?
- What do I offer that my competition doesn’t or can’t make the way I make it or provide it? The best example of this is: When Domino’s got into the pizza business, it did not make better or cheaper pizza; it simply added delivery to a very common product. Meeting the desire for speed and convenience.
Question: What ways are you tuning into your customers favorite radio station WIIFM- What’s In It For Me?