The four needs of a consumer

We often think that all we have to do to meet customer expectations is to provide our product or service and they’ll be happy.

This simply isn’t the case.

The aim of any ecommerce store should be to have loyal trustworthy customers who continually use your product or service.

The four crucial things a customer needs are:

  • Fair price
  • Good service
  • Good product
  • Feel valued

Fair price

Pricing should be important to you for revenue, but also it’s important to your customers. They need the pricing to be fair.

When deciding if your price is fair, you could benefit from looking at your competitors ecommerce stores so you can gauge the customer expectations. While we agree that price anchoring is not always the smartest way to decide on pricing, it’s important to know where you stand in comparison with your competition.

If you are charging significantly more than your competition then think seriously about whether your offering is better than theirs.

It’s okay to charge more, however, compensate that with better customer service, like a loyalty program or bonus features to justify the higher price point.

The key thing with pricing is to be transparent. Whether you’re above or below the market rate, let your customers know why this is the case and exactly what they get for their money.

Good service

Good customer service has been proven time and time again to allow business’ to charge more.

Customers continually suggest they would be happy paying more for a product if it meant it would improve the level of customer service. So you need to think how to meet customer expectations.

Having a strong customer support team increases the level of trust your customers have for you. They understand problems will be addressed and fixed in a timely manner and they’re more receptive to when things do end up going wrong.

Good customer service, however, is not an excuse to increase your prices. If you can keep your products affordable and provide excellent customer service, even better.

Good product

Creating a solid product is obviously a major need for the consumer, and a major need for you too. There is no point in excessive manufacture costs if no one is buying your poor product.

Be confident in your product, be open to improvement suggestions and always aim to give the customer exactly what they need, not what you think they need.

Meet customer expectations

How much your customers feel valued by your company is often overlooked. Some companies seem to forget that without your customers, you would have no business.

Customer value is the one need we think most ecommerce stores overlook.

A great example of this is by UK supermarket chain Sainsbury’s who upon receiving a letter from a three-year-old child, changed the name of one of their products.

customer value
 

This also went viral. So not only did Sainsbury’s effectively show how much they valued and listened to their customer, but they also used the experience as an excellent marketing campaign.

Your customers need more than just a good product in order to keep their loyalty with you. Ensuring you think about ways to provide for your customers’ four main needs, will increase the number of sales you make, and promote a loyal customer base.

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