The CEO Magazine
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How to grow your business by knowing your audience

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How to grow your business by knowing your audience

Knowing customer and his need is all that a company needs to grow its business. If a company is able to identify the “pain points” of customer then it can easily upgrade its products in accordance with the customer needs. The foremost thing that any company needs to understand is the point that what sort of customers are they catering to and what are their priorities? If the company can identify that then it can be worthwhile to let them know their target customers’ groups, ages, interests, likes or dislikes and many more useful information. It can be easily tracked that which particular section has a particular set of problems. So accordingly the solutions can be found. Then by the help of “solid metrics” it can be found what are the things that customer live for and wants to achieve in his life? After getting all these details company can entice its target customer after proving the need of the product to that customer.

 Apart from this, company can focus on the frustrated customers. Frustrated customer brings the biggest opportunity which a normal customer does not. Frustrated customer brings out the minute mistakes which might be hampering other customers from buying a particular product or service. He is the one shows the path to take corrective measures. 

Social media tools can be used to engage customers but the foremost thing is to know the audience. Here is a list of some important things to know about the target audience before laying down strategies to engage them on social media:-

1.     A company must be aware of the average age of its audience. It must be aware of the different ways of amusement which its audience likes enjoying. Apart from this, company can know a little more about the job profile, lifestyle, dwellings etc.

2.     The next thing already discussed is the pain point. It must be asked whether the services provided by the company can be helpful to mitigate the pain or customer can help himself in mitigating that pain.

3.     The other thing that a company needs to know is that where does its service or product sit in comparison to competitors. Is it better enough to sustain in long term?

4.     The next in the list comes the point that what is the value of the service or product assumed by the customer. What is it that makes them value the offering to such high (or low)?

5.      Then comes the most valuable point which every customer tends to follow.

What makes your products different from others? Company needs to check whether explanation given by it has really brought any change in the perception of the buyer.

6.     The other thing that a company needs to know is what are the products that a customer can buy if he doesn’t buy its products?  It must be aware of the top industry competing products.

So these are some of the steps which when followed can help in knowing the audience to a great extent. This can be extremely fruitful for those who don’t see any loophole in their business model but still are not able to grab the attention.

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