The soul of a business
The reality is this: there are common features in all businesses, independently of the field, the amounts involved, the place were transactions take place, or who runs the company. Then there are others, the ones that are not so common, but are more specific. And lastly, there´s always the idea that for things to work out, there has to be a “secret,” always repeating the same, somewhat vague motto, that “the secret is the soul of a business.” Too much attention is often paid to that “secret” instead of the driving force behind the machine: the client.
There may well be a secret to the soul of the business, but there would be no business without clients and, that´s why it´s important to invest time and dedication into improved customer knowledge. It´s the client who makes the purchase, who will give positive or negative reviews depending on their satisfaction level and who provides the business operation with its essential turnover. Consequently, apart from carrying out preliminary market research about the products and services you sell, in which all aspects of the product, distribution channels and marketing-related situations are analysed, this part of the process should not be overlooked.
I would like to share some considerations, on which you can reflect and assess whether you really know the key element of your business:
- Can you pin-point your target market with precision? Do you know where they live, in which age group they fall? Where they work or what their average academic qualifications are? This information is crucial for more effective communication, for example.
- Are you aware of your clients’ preferences? Have you carried out any serious market research to obtain your clients’ feedback about your product? Their reactions can give you an idea of your target market.
- Do you know how they would prefer to be contacted? Have you considered which is generally the best communication channel for contacting your clients? Do you know in which language the client prefers to receive communication? Having the right answer to the client´s problem isn´t enough, you also need to consider how the message is presented.
These are basic considerations which signify a new paradigm in the business world, and which will definitely make us redefine our ideas about the important points to consider for business success. In the meantime, maybe we need to embrace the fact that, in the end, it´s the client who is the soul of a business.