Who knows best? You or your customers?
Who is the best judge of the goods or services you try and sell to your customers?
Many business owners assume that they know what their customers need and rush to market with goods or services that may or may not be widely appreciated.
Ultimately, it is the customer that decides if what you sell is what they need.
The next time you have a light-bulb moment and think you see an opportunity to sell new or improved goods or services, check out your idea(s) with a selection of your customers, see what they think.
Can be as simple as picking up the phone for a ten-minute chat or emailing a representative number of customers that won’t be offended by your approach.
Market research can help you avoid the expenditure of valuable time and resources creating and offering items that your customers really do not want or desire.
Achieving clarity in this way will help you make decisions on new sales lines that have less risk of failure. In these uncertain times, this is a strategy that could pay dividends for your business.