Understanding the customer

Obvious as it might seem the basic necessity for any successful company is to supply products and services that the customer needs. Note we use the word need not want.

Despite what they may say to the contrary, customers rarely know what they need, but they will always tell you what they want.

Companies often get hung up on trying to sell the features of their latest offering, rather than the benefit that it provides. When a customer needs to be persuaded as to why they need a particular product/service, then the odds are that they probably don't. A true need represents a pain point in the customers organisation.

'Customer Insight' is gained by looking beyond the obvious (cheaper, better, faster). It is about finding the pain points. When achieved it represents deep understanding of both the articulated (stated) and unarticulated (latent) needs of existing and potential customers and provides significant competitive advantage.' Balmoral Strategy Development dedicate a significant part of all our strategy development processes on development a better understanding of customers and their needs