How To Identify Customer Needs And Wants

Summary

In this video, Marianne DeNovellis teaches entrepreneurs how to identify their customers' needs and wants to better serve them. She highlights the importance of collecting feedback through conversations, social media, and competitor reviews. DeNovellis suggests using social proof, polls, preferences, and practice to refine products and services. She also shares four specific questions to ask clients to improve customer satisfaction, such as identifying frustrations, time-wasters, recurring desires, and future goals. By understanding these needs, entrepreneurs can better position their offerings and drive success in their business.

Takeaways

• 😀 Start by collecting direct feedback from your customers to understand their needs and preferences.
• 😀 One-on-one conversations or social media feedback posts are great ways to gather information from customers.
• 😀 Review competitor feedback on platforms like Amazon to identify common complaints and find opportunities to improve.
• 😀 Social proof is important—customers subconsciously trust popular products or services. Use polls, surveys, and feedback to gather social proof for your offerings.
• 😀 Use polls to understand customer preferences, and test different ideas with AB split testing to refine your approach.
• 😀 Focus on what you are good at and continuously improve it. Understand how you can better serve your customers based on their needs.
• 😀 Ask specific questions to your clients about frustrations, time-wasting issues, repeated desires, and future goals to get valuable feedback.
• 😀 Common questions to ask include: 'What frustrates you most?', 'How do you feel your time is being wasted?', and 'What do you wish you had?'
• 😀 Understand your client's vision for the future and position your offering as the bridge between where they are now and where they want to be.
• 😀 Solving small problems is a powerful way to make money in business—pay attention to the tiny pain points and fix them for your customers.

Q & A

What is the first step to finding out what your customers need?

The first step is to start collecting feedback from your customers, either through one-on-one conversations or by gathering feedback on social media platforms.

Why is it important to ask customers directly about their needs?

As an entrepreneur, you're a solutions provider, and the best way to understand your customers' needs is by asking them directly. They are the ones who know exactly what they want.

How can reading customer reviews on competitor products help you?

By reviewing customer feedback on competitors' products, you can identify common complaints and needs that haven't been met, allowing you to improve your own offerings and gain a competitive edge.

What role does social proof play in business?

Social proof helps validate your product or service by showing that others are using it. This psychological phenomenon encourages more customers to follow the crowd, boosting trust and sales.

What are some ways to collect social proof?

You can collect social proof through polls, surveys, or by asking your customers directly on social media platforms like Facebook, Twitter, or Instagram. These methods give you valuable insights into what your audience thinks.

What does the three P's of social proof refer to?

The three P's are: Polls (gathering feedback from customers), Preferences (asking about specific customer preferences), and Practice (identifying what you are good at and continuously improving it).

Why should you ask your clients specific questions about their frustrations?

By understanding what frustrates your clients, you can tailor your offerings to solve these specific issues, improving customer satisfaction and increasing loyalty.

How can you use customer feedback to refine your products or services?

By regularly asking your clients what frustrates them, how their time is being wasted, and what they are repeatedly wishing for, you can use this information to enhance your products or services and better meet their needs.

What question should entrepreneurs ask to understand the long-term needs of their clients?

Entrepreneurs should ask, 'Where do you see yourself in a year or five years?' This helps understand their goals and aspirations, allowing you to offer solutions that will help bridge the gap between where they are now and where they want to be.

Why is it important for entrepreneurs to ask about the vision and future goals of their clients?

Understanding your clients' vision for the future helps you align your offerings with their long-term goals, creating a deeper connection and ensuring that your products or services are relevant in the long run.