How to Use Your Audience’s Pain Points to Grow Your Business in Asia
No pain, no gain? Getting to know your customers and their pain points will enable you to reach them more effectively and better meet their needs.
PHOTO CREDIT: Getty Images
Using your clients' pain points for business success means being in touch with your customers' deepest, most particular needs and finding ways to meet or eliminate them. But before you can discern your customer's pain points, you have to know exactly who your customers are.
"If you don't know whom you're talking to," says Tony Delmercado, co-founder and COO of Hawke Media, "it's tough to create content that will engage those folks. Track your most engaged customers' ages, locations, interests, and behaviors using a tool such as Google Analytics. Create solid metrics that show you what these people live for and what they care about. Then you can create content with a scope and tone that reflects and attracts more people with those same attributes."
Once you have a solid handle on who your customers are and you've begun to figure out ways to entice other similar customers to your business, you can start seeking out pain points and using them to your advantage. Here are three ways to use pain points to grow a thriving and successful business whose products land exactly where they need to.
1. Dig into your internal negativity as inspiration fuel.
Milind Mehere, CEO and founder of YieldStreet, used his own struggles and frustration to inspire the development of his business: a technology-based investment platform that would allow venture capital firms, friends, and experts to access limited high-yield investments.
When considering where to go with your business or imagining potential paths for product development, start with what you know best -- your own frustrations and experienced gaps in service. What pain points do you have as a business leader, parent, shopper, etc.? Use your own experiences to think like your customer and imagine how you could alleviate their pain points.
2. Diagnose and treat one problem at a time.
No product will resolve every consumer's pain points. When purchasing something that is considered a commodity, customers will choose the product that satisfies the need they consider most important, sometimes sacrificing the solution to other pain points in exchange. A customer may sacrifice price for quality, for instance, or convenience for price.
You can improve your chances of being selected to meet a customer's needs by developing a marketing strategy that lets you do you. Look at Avis car rental's famous "We Try Harder" campaign. After spending more than a decade losing money and trailing behind Hertz, Avis adopted the advertising slogan "When you're only No. 2, you try harder. Or else." By capitalizing on its failure (being No. 2 in the industry), Avis was able to convince customers that it would work harder than its competition to resolve their car rental needs, and it quickly became a profitable company.
Ask yourself if your customers -- or your business -- have any pain points you could take advantage of in order to sell yourself more successfully.
3. Treat frustrated customers as your success gurus.
Upset customers complain, and in the modern world of social networks, it's not hard to find out what customers think you're doing wrong. Watch for the mistakes of other companies so you can avoid them, and look for situations where your own customers became unhappy so you will know what you need to work on for your business. After all, if you're the one causing your customer's pain point, there's no one better positioned to alleviate it! Asking an upset customer what you can do better can yield useful insights for future improvement.
Listen to your customers -- learn who they are, what they want, and what they don't want. Let them teach you how to be a better business and provide better services than the competition. Pain may not be fun to talk about, but it's hard to overestimate its value for your business.