What are pain points?
In business terms, a pain point refers to persisting problems customers encounter when trying to patronize your product or service. Pain points may range from a lack of financial capability to buy the product to difficulty buying. Running a business is about identifying and solving these problems. You must ensure that your customers have good experience with your marketing strategies and sales funnel to maximize returns, revenue, and growth.
Customer pain points may include all but are not limited to the following.
- Financial Pain points: Financial pain points involve customers’ monetary issues, like a lack of cash to buy from you.
- Process Pain points: These may include extended and time-draining tasks the customers encounter in your sales funnel.
- Productivity Pain points: This consists of the inefficiencies of your products or services.
- Support Pain points: Arise when customers need more support systems to get the help they need.
Ways to identify and address customers’ pain points to enable speedy business growth are;
- Conducting Market Research Surveys: This is a direct approach as it involves asking the customers to provide feedback through surveys online. Conducting customer research can help you gather information on what the customers dislike and improve them to fit their tastes.
- Include a live chat in your customer journey: This is a crucial step as it solves the problems of support pain points. It is typical for customers, especially those who need to be tech-savvy, to encounter specific pain points while trying to interact with your products online. An effective live chat will collect direct feedback and solve the issue instantly, helping you retain that customer for subsequent times.
- Follow-up: This step is quite an underrated one. Many businesses need to utilize the importance of follow-up. When customers patronize you, they have a problem they need to solve. A good follow-up will be an email asking whether they solved their situation and how the experience was. Following up will build your relationship with your customers as they feel that you are not only interested in selling but also interested in their welfare.
- Carry out an in-depth competitive analysis: Your competitors are already solving their customer pain points; you should spy on them. Spying on your competitors gives you an edge to efficiently solve the same pain points and provides a clear head on the pain points they have left out. Focusing on these will help you attain a better level of growth than them.
Business pain points are problems causing pain in a business and must be solved for your organization to function successfully. Identifying and solving these pain points has many benefits. It may help push your business forward, attract new customers, build trust with old customers, and, more importantly, ensure business continuity and growth. Go here to get all the support you need to identify and address your customer pain points. It’s time to get started!