Businesses provide products to help individuals with their specific needs. Yet, you might notice that some brands become popular while some go unnoticed.
A business’s pricing structures, product features, or marketing strategies contribute to how customers perceive their brand. But most marketers believe that the capability of a business to provide services that cater to customers’ needs is what makes them stand out in the competition. The business’s triumph is made possible by targeting customer pain points and offering solutions to those problems.
By identifying your customer pain points, your business is likely to enjoy higher conversion rates and product sales. This post helps you distinguish the common pain points and identify the ways to understand them.
What are Customer Pain Points?
Pain points are any problems or challenges that your prospective clients experience in your business. These pain points are either real or perceived, from technology, processes, operations, or anything that influences an individual’s life. As a business owner, you may want to attend to your customers’ needs by identifying what they want to be fixed.
Business pain points influence your company’s strategies and operations. Thus, you must ensure to solve those problems carefully. Your business’ capacity to solve pain points adds value to your brand awareness.
Before selling product or service, understand your prospect’s pain points and other problems they might be facing. Some of the common business pain points include the following:
Process Pain Points
These are challenges related to the internal process of your prospects. They may want to improve their business system and operation by incorporating the right solution to their problem. Offering services that could help them alleviate the situation is a good start to increase your conversion rates.
Financial Pain Points
Your prospects are unaware that they’re spending too many resources on a product or service. You can help them by offering the same service at less cost. Your clients will surely love that.
Productivity Pain Points
Productivity is often associated with process pain points. Prospects may find it hard dealing with the current service they have in terms of work efficiency. Guaranteeing them with your exceptional service works best in this case that supports workforce productivity.
Support Pain Points
customers don’t feel the support they need in service, most especially in the
sales funnel process.
Ways to Identify Pain Points
Now that you’ve identified the common pain points in a business, make sure to recognize and provide the service your prospects need. Successful identification of customer pain points helps your business generate leads and convert sales effectively.
1. Conducting surveys and qualitative research.
Creating and distributing surveys is among the great ways to listen to your prospects and clients. With the right set of questions, your business is likely to obtain useful insights on how prospects perceive your product or service. When creating research, emphasize both qualitative and quantitative information that will give your business an edge over its competitors. Why? Because it helps your business identify customer pain points and use them to create solutions seamlessly.
You can also provide open-ended questions in your survey, which usually starts with “how” or “what.” Some examples of questions to help your customers include:
- What is the current challenge you are facing?
- What kind of service do you think will help you solve your problem?
- How does this product affect your entire team?
2. Setting up meetings on your sales team.
Your sales team directly interacts with your current clients, potential customers, and lost prospects. Setting up a conference meeting to discuss your salespeople’s experiences regarding clients allow you to know your business’ strengths and weaknesses. Asking your sales team with their lost deals gives you insights on a particular pain point that your product fails to solve. Among the reasons why your sales team is losing prospective customers are missing features, fewer benefits, expensive pricing, or incompetent customer support.
To further the identification of customer pain points, your salespeople should take down their observations on why a particular prospect didn’t end up buying the product. They may also need to ask questions, like:
- Why did the customer turn down the product?
- Does the product give them the benefits they were looking for?
- Did they compare the product with other companies with similar services?
3. Checking out your product’s reviews.
Another way to hunt down customer pain points is by reviewing their comments on your blog posts. You can check out review sites, as most customers post their complaints and annoyance on those platforms. What makes review sites a good platform to fish for customer pain points is that they provide the pros, cons, and suggestions to improve the product. Yet, it’s important to identify the review sites’ credibility and expertise before implementing the necessary changes based on the complaints posted.
Your sales team can also check social media platforms to connect with your customers and identify their concerns. You can find customers’ problems usually posted in their timeline, comment sections, and your inbox.
4. Monitoring your competitors’ performance.
yet importantly, identify your customer pain points by monitoring your
competitors’ progress in the market. As mentioned above, one of the reasons why
prospective clients aren’t ending a deal with your product is that other
companies provide the same service for less cost. They might find other
products that can give them more benefits than what your product can offer. To
monitor your competitors’ performance, check their websites, and evaluate their
pricing structure, features, and benefits. Read their Frequently Asked Question
(FAQ) section and see if they missed something that you can incorporate in your
website. Additionally, observe how they craft their marketing copy online.
Marketers use these processes to target customer pain points efficiently.
Identifying customer pain points isn’t an easy task. Don’t make assumptions about how your customers perceive your product, as it can only lead to false data.
Through the ways recognized above, it would be easier for your business to delve deeper into your customers’ needs and wants. Try to figure out what they’re looking for a product and make sure to implement them in your offered services.
Although a customer pain point might share similar traits with the other prospect, remember that a one-size-fits-all solution doesn’t exist. Guarantee that you understand your customers well enough before delivering the service they want to accept.