Danon

THE VALUE OF WH(Y)

You can look at your sales and see what your customers are buying and when they are buying, but do you know why they are buying?

Why?  This is probably one of the first questions you ever get asked from a child.  “Why do I have to…?” If your parents were anything like mine, you didn’t get an answer and if you did, it usually was not the answer you wanted to hear.  If you really want to understand your customers and have better insight on what is driving sales; there are two important “why” questions you need to ask them.

Why did you initially try our products/services?

Why do you continue to use our products/services?

Of course, these questions will lead to many other questions, but having an understanding of these two questions will give you the insights needed to make some very important business decisions going forward. Decisions like:

  1. How to market your products/services
  2. Where to market your products/services
  3. What are the key motivators in your customers buying decisions
  4. Who are the key decision makers when purchasing your products/services

 

These are just a few decisions that will help you understand your customers, but it all starts with understanding the value of WH(Y)”

WH(Y) = More Revenue

WH(Y) = Lower Cost

WH(Y) = Less time