There are a number of reasons why most companies fail in the first five years. Among them I believe is the lack of knowledge about customers. Business owners tend to put a lot of emphasis on their product, which in and of its self is not a bad thing. You have to develop your product. More importantly than developing your product is developing your product and business around what your customers want. The thing that’s most important to them.
Your customer psychographic is one of these most important things you can do at the beginning of your company to further your success. Find out the emotional reason that your customers buy.
We all have our own psychographics that mean a lot to us. Let’s take myself for example. I happen to love maps. I have tons of them. I have old maps, new maps, ancient maps. I can’t seem to get enough of them. Why do I buy them? The reason is simple. It’s not because I really need to know boundaries or where countries are located. It’s because of the adventure that they represent. I like to be able to dream about far away places and all the adventures and mysteries that they represent. That is why I buy. That is my psychographic when it comes to maps.
Make sure you understand what your customers want and why they buy and you will have lasting success.