How to identify what customers want
Over the years, many local real estate agencies have merged, been bought by larger companies or have gone out of business. However, Duffy Real Estate, with offices in Narberth and St. Davids, is marking its 44th anniversary this year.
Founder John Duffy Sr., who grew up in Narberth, credits his employees, community involvement and being any early adopter of technology as reasons his company has succeeded and grown.
“I’ve been lucky to have 33 great agents who are very loyal to me,” said Duffy, who started the real estate business with his wife, Lynn, in 1978. “They make the company. The name on the sign represents my agents more so than me.”
Sons, John Jr and Michael also work for the company, and daughter, Lauren, handles social media. Some of his agents’ children have also joined the firm. “You call it a family business, and it is a family business. They’re all part of the family. Additionally, our clients refer their friends, associates, children and grandchildren.”
Duffy Real Estate is also very involved in the community, through volunteer and charity work, sponsoring Little League teams, basketball teams, local runs, and parades. “The community has been very loyal to us in return,” said Duffy. “We’ve had clients who have been involved with our company for three or four transactions in their lifetime. That says a lot about my agents and about the professionalism of the company.”
“I’ve been very fortunate,” said Duffy. “I love what I’m doing. I love the people who work for me. The community has been great. I’ve been here my whole life.”
The Duffy’s live in the Haverford section of Lower Merion, midway between the company’s two offices. John and Lynn have six grandchildren whom they dote on. “Maybe, someday, they’ll be in the business, too,” Duffy said.
Generating repeat customers should be the goal of any small business. Various studies have found that consumers spend more the longer their relationship with a business lasts, which only underscores how vital repeat customers can be to the long-term success of a business.
One component of keeping customers happy and returning time and again involves understanding what patrons are seeking from a business. Addressing customer needs early on generally involves solving a current problem or thinking about what customers may need in the future, perhaps even before they recognize it themselves.
The following are some of the factors customers look for in the products and services they choose.
Good price
Price is one of the biggest factors in choosing one business over another. Customers frequently compare prices between different sellers.
Prisync, which offers competitor price tracking and monitoring software, indicates 90% of consumers invest their time to hunt the best online deals, and 86% of consumers say it’s important to compare prices from different sellers.
Business owners can get ahead of bargain hunters by figuring out how to make their prices more attractive than their competitors’. While you may not be able to offer the lowest unit price, you may be able to bundle items and services or offer some other perk, such as free delivery, which makes your overall product value better.
Ask customers questions
Figuring out what customers want may come down to asking them. Reach out to customers to learn about why they visited your establishment.
Getting a clearer picture of what makes you stand out to customers helps you to fine tune that advantage even further.
Assess customers’ lifestyles
Rather than focusing on a product or service, look at the people who will be relying on it and plan with that in mind.
For example, if you have a store that stocks housewares and other furnishings, and find that your client base is largely apartment dwellers or those who reside in small houses, you’ll need to offer items that do not take up too much interior space.
Identifying these factors can ensure you always have something useful to offer your customers.
Reliability
No matter what item or service is offered, most customers want products to last and be dependable, states Power Reviews, a consumer opinion company.
If you’re an electrician, show up for the estimate on time and complete the job as promised.
A store owner should choose a product line that endures by carefully vetting vendors to ensure only the highest quality products are being sold in their stores.