3 Customer needs you must address for business growth
A lot of business owners are creatives or idea-generators by nature. But sometimes those genius ideas can lead them astray if they’re not in alignment with their business’s customer needs.
It’s really that simple.
From new businesses that “don’t know any better” to big brands with dozens of wins under their belt, when businesses aren’t adhering to the needs of their customers… Well… Bad things can happen, like profit-guzzling losses or estrangement of your target audience.
The good news is, there are ways to avoid those “bad things”, and that’s staying on top of your customer needs.
(Click here to jump down to the TL;DR)
Benefits of understanding customer needs
In a recent blog about competitor analysis, we explained how researching competitors could help you to discover gaps in the market, inform your business strategy, locate pain points, and reveal customer needs that are critical to business success.
The objective is to be the solution.
By doing so, you are able to connect with your target audience quicker and easier. Also, having that awareness and knowing how to use those insights is an effective way to build an authentic community and strong customer base.
Focus on making your business a customer-first business. When you do that, good things happen, like product-customer synergy, sky-rocketing profit sales, increased brand visibility, and continually delivering on what customers love.
Types of customer needs
What do customers really want? Is what they want the same as what they need? How do you tell the difference and should you serve both?
These are questions to consider when anticipating the needs of your customers. The best approach? Hook them with what they need, then keep them enticed by additional offers on what they want.
3 Basic needs
Generally, customer needs boil down to three main categories: emotional, functional, and social needs.
Emotional needs
In terms of marketing magic, this need is the most important, albeit elusive at times. Emotional needs translate to how customers want to feel. But once you understand a customer’s emotional need, such as feeling peace, relaxed, accomplished, or successful, you officially have their attention.
Next is knowing how to speak the language of that emotional need, which guides the messaging for your target audience.
Functional needs
Though the most obvious or identifiable of the three needs, functional needs can be laser-focused or broadly defined.
Based on this need, customers are less concerned with how it makes them feel (but that’s still important) and more concerned with whether or not it’s a means to an end for a particular function.
The emotional component is still relevant because of how convenient, easy, affordable, or effective a product is makes our lives easier, which, in turn, creates positive emotions.
Social needs
Social needs address a customer’s beliefs, affiliations, or their self-image, publicly or privately.
This need tends to be associated with a business’s own “image” or brand, but can also be its policies, political or religious affiliations, and other beliefs, such as supporting Black Lives Matter or being a non-toxic, vegan company.
While not as strong as the others, the social need does play its part in a customer’s decision making.
Top 3 Customer Needs
Price
Often a huge contributing factor to a customer’s decision, the price is how customers weigh in on how worthwhile the purchase is, does the cost equate to quality, and whether or not a competitor can give them a better offer.Convenience
We’re all juggling the everything-all-at-once of life and the stress it brings. Produce a product that makes customers’ lives easier, and you have yourself a winner!Trust & Transparency
Information. Information. Information! Customers want to know the full story, and they want to know the truth to whatever it is you’re presenting to them. Does the product do what it promises? Is there a parent company and what’s it about? They want the right information, so they can feel confident and smart making well-informed decisions.
How to identify your customer needs
Social media, reviews, and surveys are the most common ways to identify your customer needs. This data is used to create buyer or brand personas for your business that influences how, why, and when you communicate and what you offer.
Monitor Social Media
Social media is where customers share their daily experiences and give unsolicited opinions on their experiences with brands and products. It’s where they give recommendations to friends or vent their disappointments. On rare occasions, the right post can goa viral, making your product or brand a star.
Using social media listening tools can facilitate the process by setting up automation and filters to target your search.
Read Reviews
A wide-ranging spectrum of commentary from glowing glory or vile contempt, reviews cut to core of what customers value, uncovering their pet peeves and highlighting what makes them feel seen.
Conduct a Survey
Surveys are best when you want the tailored inquiries from the source, as opposed to sifting through social media posts.
With a survey, you can be as vague or specific as you like. Surveys give you a better idea of a customer’s attitude, preference, and experience on your products as well as competitors’ products.
TL;DR
Identifying, understanding, and applying customer needs to your business strategy is the secret sauce to business success. Making your business a customer-first business will inform your decisions, helping you to develop a thriving community and soaring profits.
In the blog:
The bottom line is understanding customer needs keeps you in tune with your customers, which allows you to be their solution… ??? (DELETE OR KEEP)
Conducting competitor research is key to identifying your target audience, which informs on customer needs and pain points.
Three main categories of customer needs are emotional, functional, and social, which ultimately help with a customer’s decision making.
The top 3 customer needs are:
Price
Convenience
Trust & Transparency
Surveys, social media listening, and customer reviews are great ways to pinpoint customer needs.
