In every market, there is a group of customers that nobody wants. The customers whom may be a pain in the butt, or may not be seen as ones who will spend lots of money for value. Though many business owners will try to avoid these customers, maybe you shouldn’t. Maybe these customers are your ticket to wealth. These customers could be neglected for a variety of reasons, but two of the most common reasons are that they can be difficult to support and they are tight with their money. Let’s look at these.
Customers Who Are Difficult To Support
We all know these customers. They are the ones who are difficult on the phone, have a hard time understanding you, and pretty much want you to do all the work. But that is okay. We can work with this. Instead of seeing these customers this way, perhaps you can come up with a better solution…
Challenge: Build a system or solution that is easy to understand, is self-sustaining, and fun to use.
If you can build a system that is intuitive and easy to use, you can eliminate many, many support calls. If you can build a solution that is simple, there will be no need for questions. An analogy of this thought process can be seen in the automotive assembly lines of the past. Older American assembly lines would implement fixes to problems as they were seen along the assembly line, and correct the problem where it is seen. For example, if a door would not fit properly, they would make it work with a few different ways to fix it then and there. By contrast, Japanese assembly lines would halt their process, go back to the beginning and figure out why the door doesn’t fit in the first place.
Instead of viewing these customers as difficult to support, build a system or solution that doesn’t need support and eliminate this problem. If you can make the solution fun and entertaining, even better!!! Einstein said, “A clever person solves a problem. A wise person avoids it.” Be a wise person, and eliminate the need for support to begin with.
Customers Who Are Tight With Their Money
There are tons of people out there who need and want services but are just too tight with their money to pay for it. They don’t feel like the value provided today is worth parting with the amount of money being asked for that value.
Challenge: Build a system or solution that provides the value the customer needs at a cheaper cost.
I know this is obvious, but I challenge you to look for where you can add value at a cheaper cost. It is possible that there is a solution out there today that offers five things for $20 a month. But if you apply The Pareto Principle (80/20 Rule), you may be able to pick one or two of those things and provide a valuable service to 80% of those people who only need that 20% of value at a cheaper cost of like $10 a month. This could reel in the people that need specific things and only cost them $10 a month versus $20. I will part with my $10 bill faster than my $20, especially if the value is there. Not to mention, if you provide the 20% of the core functionality needed by 80% of the people, you could steal some customers from the $20 a month solution!!!
Final Thoughts
Though this post today is not directly about how to manage your money, it is about making money. If you are struggling for an idea, then just look for customers that are not being served. Sure, these can sometimes be the customers who are difficult to work with, or who are tight with their money, but it doesn’t mean you can’t provide them value and make some good money at the same time. Sure, these customers come with challenges, but if you push through these challenges, where everyone else has quit, you can find success on the other side of other’s failures. This can allow you to service a big market of customers and put a ton of money in your account. This is a Win/Win.
Go out there, look for the customers not being served, come up with a plan, and build your fortune!!!