July 11, 2007

Does your target market know they need your product or service?

The Fast Company website had the following quote from Henry Ford. “If I had asked my customers what they wanted they’d have said a faster horse.”

This quote struck me. Obviously, you cannot force a customer to need your product. However, by showing the benefits or the way your product solves a problem, potential customers will be converted. If educated properly your customers will be more likely buy what you offer them. For instance, how many people really need bottled water? Water flows freely from taps and water fountains in just about every location in this country. Yet, I believe, due largely in part of the education (marketing?) from bottled water companies the industry has grown to $15 billion dollars. Who would have thought? It is just water.

Henry Ford had to educate the American people about the necessity of the automobile. You may need educate your market. They need to understand your product, to see the value of your product, to see the problem you are solving. If you can do this, you can make tremendous gains in obtaining valuable customers.