Published on January 4, 2021 in Profitable Products To Offer.
Here's 3 big questions that will help direct your focus and reveal to you key insights into your business. And let's jump right into the first one...
Here are links and resources mentioned in today's video. Enjoy!
Question #1: Who are your customers and where do they reside online? The answer to this question reveals what your target market is -- who it is you want to serve and help, day in and day out.
What sorts of people do you want to work with? What special interest group do you want to serve? Again, these sorts of questions determine who your target audience, or more specifically, your target subgroup, is.
Next question...Question #2: Why should customers buy from you? The answer to this question reveals what your competitive advantage is. Is your product or service faster? More in-depth? Cheaper? More premium? Fully customizable? Something else?
Your competitive advantage, which is often summarized in your business's USP (Unique Selling Proposition) -- which is a short 7-8 word phrase that states your business's competitive advantage -- your competitive advantage sets you apart from all other vendors in your market.
From the customer's perspective, it makes you stand out...and stand FOR...something. So WHY customers should buy from you over your competitors is your competitive advantage.
Here's Question #3: In what ways does your product or service improve the lives of your customers? The answer to this question reveals your product or service's benefits. It's critical to always remember that customers don't buy products or services.
They aren't interested in your products or services. Instead, what they're really interested in are the BENEFITS they get as a result of purchasing your products and services.
Hope you enjoyed. See ya next time!
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