What Do Your customers Want?..Niche Market – part 5iv

What do your customers want? Ah now, isn’t this the million-dollar question!

Finding the niche market that is right for you part 5iv

Nich - do you really know what your customers want

Do you really know what your customers want? This is one of the keys to success, so spend some time delving into this issue — find out all about the benefits from your products and services.

Identifying those benefits for those products or services is the key to success but some of them may be well hidden. If you haven’t done it already, it’s really worthwhile analysing what the benefits of your products and services are? Benefits are the driving force that ultimately persuades people to buy your products and services and you certainly can’t have too many of those!

The trick is tapping into the human psyche

Let them know that you understand your customer’s needs, desires and wants …ie the things that satisfy basic human needs so you can start persuading people to buy and create a much more successful business based on values, rather than just say, relying on price differentials with its competitors.

Of course selling is not entirely based on what people want, but also what they need – in fact wants and needs are very closely related.

Needs and wants

Niche - Cusomer knows what he wants

Defining what your customer wants gets interesting and infinitely more complex where for example, people need a home but they also want nice furniture and other things. They might want to express their personalities through the design features of their home or “they might need a simple and comfortable bed to sleep in, but they might actually want a six-foot waterbed with silk sheets, a built-in TV and a super modern bedroom to go with it together with all the latest gadgets.”

Let’s start by looking at our basic human needs…

Maslow’s hierarchy of needs

In the 1950s Dr Abraham Maslow developed a hierarchy of basic human needs. Basically, it says that our basic needs must first be met before we realize our higher aspirations

  • first we need food, shelter and warm clothing before we start thinking about buying the latest luxury widgets and gadgets
  • if we are hungry, cold or have nowhere to live, these basic needs are paramount
  • identify the need for security and safety – to be free from physical danger and safe from harm
  • also requiring a feeling of security that our needs will be met
  • then come our social needs – we are social creatures that need to belong to a group and need to be loved and accepted — hence the popularity of social media sites in recent years that have tapped into this basic human need
  • until these basic needs are met, we are not really interested in our higher aspirations or even our need to be heard and appreciated

In the Western world, we are fortunate to be in a position where most of our basic needs are met —  well fed,  have shelter and clothing and generally we are fairly well secure in having those needs met. Most of us are also lucky enough to have our social needs well satisfied with others and we mostly feel wanted. Many of us are also striving to meet our full potential.

In Part 5 (v) we will consider:-

So how does that help you develop your business? Needs are still main drivers

Source of reference David Anderson for which many thanks.

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4 Responses to What Do Your customers Want?..Niche Market – part 5iv

  1. Ron West says:

    Great Post John, Know what is in your toolbox! Great advice! Then ask some deep and delving questions, great work, and great ideas! :) I really like your site too, very neat and tidy! You’ll be showing me a thing or two there as well! :) Kind regards Ron
    Ron West recently posted…Disabled & Independent Living 2My Profile

  2. John says:

    Hi Ron Many thanks for your comments – I am going to set up my own niche once I have considered all the advice I am giving myself! Cheers John
    John recently posted…What Do Your customers Want?..Niche Market – part 5ivMy Profile

  3. Susan Cooper says:

    Aw, my friend you did a great job outlying what we need to think about when it comes to our customer/ audience. Great down to earth advise. :)

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