How to Analyze your Business
Your customers are the most important people for the success of your business.
Have you ever tried to put yourself in the shoes of your customers?
Do you know the experience that your customers are undergoing?
You need to analyze and think about:
- why the customer went to your business
- how the experience was for the customer
- what can be done to get them to come back as well as tell others about it
If you have never done this you are seriously hindering your ability to get into the head of the customer and figure out what is working within the business.
Understanding why the customer went to your business will help you focus on the key influencers and demographics that are helping drive your sales.
If they are hearing it from people in local organizations then you need to exploit that entry way and reach out to those organizations.
If they have heard about your delicious soups then focus on promoting soups to the group that is interested in soups.
This why helps you to get a sense of what your business is doing right and what it is doing wrong.
Understanding how the experience was for the customer will help to get a deeper sense of the inner workings of your business and hone in on providing the type of experience that will achieve maximum returns.
If customers talked about how much they enjoyed the free samples, then focus on providing better samples.
If they talked about the beautiful painting on the wall, then focus on putting up more paintings on the wall.
Understanding what can be done to get them to come back as well as tell others about it is crucial to converting the sale for the future.
This is a combination of understanding the why and the how.
Is there something that you could have done that would improve their likelihood of telling others about your business?
Is there a specific action that makes people more likely to come back again?
The majority of business owners create a barrier within their business that does not allow them to look at their business from a different perspective.
Taking time to figure out the why how and what is crucial to understanding how to improve your business and keep customers coming back.
Every aspect of the business needs to be analyzed and by allowing yourself to think of these questions it gives you more insight on what needs to take place.
Do you understand WHY your business runs?
You need to become an expert at understanding why your business is doing well or not and how you can improve it.
By constantly analyzing your business you are weeding out what does and doesn’t work. You do this by making changes from what you analyzed and observing the results of those changes. If these changes don’t work you change again, and again. This helps your business stay at the forefront of its industry.
Double down on what works and figure out why it works.
Just don’t forget to keep it simple.