Needs and Wants Marketing - How to Use It to Your Business" Advantage
When you are coming up with a marketing strategy for your business or products, one of the main points to consider is your customer's needs and wants; which is often called Needs and Wants Marketing.
If you can pinpoint where your product or service provides a solution for your customer's needs and wants, then designing your marketing plan will be much easier and your potential for high returns on investment increases exponentially.
This is a topic that confuses many small business owners, so let's go over how to distinguish between the two, and how to put the information to work for your business.
First, what is Needs and Wants Marketing? In short, it is basically a marketing strategy that breaks down both the needs of your customer, and the wants of your customer, so you can then figure out one of two things: Either how your current product or service fits into your customer's needs and wants, or it gives you an idea of what type of product or service you could design to fill this gap for your customer.
To go into further detail, your customer's needs are usually more of a requirement.
For example: "I need relief from this knee pain.
" On the other hand, your customer's wants are usually more emotionally driven.
For example: "I want this knee pain to go away so I can play soccer with my kids again.
" Once you can identify these traits of your customer, the best and most profitable marketing strategy is to design your marketing around the "wants" side of your product, while still making sure that you are answering the "needs" side as well.
If you market to your customer's wants, then you are making more of an emotional connection with them, which is exactly what you want because people tend to make decisions based on emotion more than logic.
When designing your own marketing strategy, Needs and Wants Marketing should play a vital role in every marketing plan you put together.
When using this approach, you are able to target your marketing much more, which leads to much higher profits in a shorter amount of time.
If you are not currently using this strategy in your marketing efforts, your business may slow down quite a bit in the near future if it hasn't already.
You risk losing your future prospective customers as well as your current customers to your competition, as your competition may begin using this strategy in their business.
If you can pinpoint where your product or service provides a solution for your customer's needs and wants, then designing your marketing plan will be much easier and your potential for high returns on investment increases exponentially.
This is a topic that confuses many small business owners, so let's go over how to distinguish between the two, and how to put the information to work for your business.
First, what is Needs and Wants Marketing? In short, it is basically a marketing strategy that breaks down both the needs of your customer, and the wants of your customer, so you can then figure out one of two things: Either how your current product or service fits into your customer's needs and wants, or it gives you an idea of what type of product or service you could design to fill this gap for your customer.
To go into further detail, your customer's needs are usually more of a requirement.
For example: "I need relief from this knee pain.
" On the other hand, your customer's wants are usually more emotionally driven.
For example: "I want this knee pain to go away so I can play soccer with my kids again.
" Once you can identify these traits of your customer, the best and most profitable marketing strategy is to design your marketing around the "wants" side of your product, while still making sure that you are answering the "needs" side as well.
If you market to your customer's wants, then you are making more of an emotional connection with them, which is exactly what you want because people tend to make decisions based on emotion more than logic.
When designing your own marketing strategy, Needs and Wants Marketing should play a vital role in every marketing plan you put together.
When using this approach, you are able to target your marketing much more, which leads to much higher profits in a shorter amount of time.
If you are not currently using this strategy in your marketing efforts, your business may slow down quite a bit in the near future if it hasn't already.
You risk losing your future prospective customers as well as your current customers to your competition, as your competition may begin using this strategy in their business.
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