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Meet customer unmet needs

If you want to gain a greater market share, the first thing you need to do is figure out what your customer's unmet needs are or what frustrations they are facing in your industry. Any company that can solve a problem for a customer, meet a need that is not being addressed, or help alleviate a frustration is going to have engaged and loyal customers. Engaged and loyal customers means increased market share as those customers become brand advocates, and start to spread the word about what you do, and how much they love you.

What is your customer struggling with? How could you make their life simpler? What product or service could you offer, or what change could you make that would enhance someone's life? This is where the opportunity lies for you to grow your business. If you feel like you have tapped out as far as growth goes, and despite your marketing efforts you are not seeing any substantial increase in profits, it is time to evaluate the industry and your target market and determine if there are any opportunities that are not being utilized by your company. A good way to figure this out is to poll your customers or do a survey of your target market. This will help you determine if there are any needs that are unmet that you could swoop in and fulfill. These are golden opportunities.

Develop your company's competencies as you simplify the complexities in your customer's lives. Look for a match between your competencies and your customer or potential customer's needs. If there is a need that you are not equipped to fulfill, you can improve your company and grow your market share at the same time. In other words, if you can't do it now, make the changes you need to, add the people, expertise, and equipment necessary to fill the need. The more competent your company becomes, the more people become potential customers, because you provide for more needs.

Customers are always appreciative of a company that is truly seeking to make change and add value to their lives. They trust companies that have their best interest at heart, and are more likely to advocate for that company.If you can see a glaring hole or oversight in your industry, chances are customers are just waiting for someone to find a way to fill their needs and will flock to you when you do. The more you know about your industry, and your consumers, the more able you will be to fill the role of provider for unmet needs. These are opportunities that when presented can result in exponential growth, but only for companies willing to put the customer needs first, and are prepared to take on the challenge of making changes to better meet the needs of the customers.

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