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Every business ever created has been based upon a problem. Some problems are simpler than others - not good at slicing bread, we’ll do it for you! - but no matter what the problem is, you are selling the solution. The only problem is working out how to take your customers from having a problem to seeing the solution and buying it from you.
The best way to illustrate this idea is to imagine you are a doctor. You come up with a suitable diagnosis and suggest a treatment. But unless you offer in office dispensing, your patient is going to take their business elsewhere to get a cure - no matter how good you were at the diagnostics.
Coming Up With an Innovative Solution
People are always looking for the next new thing on the market, something that solves a problem in a different way. This might be a more environmentally friendly solution, a cheaper option or simply a more fun thing to do. Whatever you come up with, it must be different to what your competitors are offering if you want to stand out.
A business destined for success will have a great solution to a problem and a clear market for this solution too. Understanding how your solution underpins every other part of your business is key to building a strong foundation you can grow from, but is also vital for developing your idea into the best possible version.
Marketing Your Idea
If you are going to persuade people that your solution is the best thing for their problem, you need a clear marketing strategy. Though you might be tempted to market the product or service you offer, the best way to capture your audience’s attention is to address their pain points head-on.
Targeting a pain point (the problem) is the best way to engage your audience so that you can then inform them about your solution. This works the same whether you are engaging an online audience in an ad or giving an elevator pitch to a potential client. The why behind your business is increasingly as important as the how - be prepared to answer plenty of questions in this area.
Refining the Conversion Funnel
Simply put, the conversion funnel is the route your potential customers take to become actual customers. In other words, the conversion funnel is the process by which you persuade people to part with their cash in exchange for your products or services. The more refined you can make this journey, the more likely you are to win clients.
Once again, the problem-solution approach works best. The more you can show your clients that you can anticipate and resolve their pain points, the more likely they are to trust and return to your services or products. And, you will have additional chances to persuade them to purchase additional products and services to get a more rounded experience.
The greater the emphasis you place on presenting a solution to a problem, and the more you can do to show that your bridge from one state to the other is the best one to cross, the more successful your business should be.