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Know Your Customers

As an owner of a business is it obligatory that you should know your customers- in more than one way.

Customers are the very important phase of business that’s why you along with your business should know yours’s, the customer. You have to know what the customer wants. You should know what services customers want. The most important factor is that you should know about customer “who they are” and what they claim.

Your’s first priority is that you should know the thinking of the customer about the price that you have set on your selling items (Products). You should hunt ways to know about the true sapience about the price that you select for your products. To know about customer’s perception about prices you can directly ask from a customer that you are happy with our price and services? “Are you comfortable with price or not?” or by survey form forms. Once you know about a customer’s feelings about prices, then you can make a more comfortable environment for customers, which results beneficial for all involved parties. If you came to know that cost- based pricing doesn’t work fine then you may change this type of pricing to customer-oriented value –based pricing. That helps to know about the difference between the two above mentioned pricing style.

And, as stated above previously, you should know the will of your customer. Even you always know the will of the customer even they do before. To lead the game to perceive, to know how to handle to customers don’t hesitate even put down yourself in the customer’s shoes. You have to look further don’t only focus your own profit, also value the benefit of customers.  If you are running an online marketing business, you buy some items from it. If you have a telephone operator for your online business just calls from an unknown number to check the response of that phone call teller. By doing that you can guess the exact portrait of your business from your customers.

But this is not just only the knowledge about your likes and dislikes about your business. For a business someone should set a host of legal condition or a set of a condition known as requirements, from that set one is titled “Know Your Customer” (KYC) requirements. This is a step formed for precautionary discrepancy thievery, fraud as well as money laundering.  Due to this, it is obligatory to use of services that can help you to Scan and recognize IDs and other related credentials of customers. To do this, before entering into a transaction make sure you are doing business with them. But just for KYC requirement, you should not do this, one of the reasons for doing this may be for the safety of customers. If you are running a business that gallops its own online trade than surely it is your customer on the other side of the trade is a must. Finally, it shows you are doing all this for your customer’s safety, this all creates a positive trademark for your business. In this sense, it feels like everybody wins.

For all above discussing you can conclude that you like lead the market and stay on top of market by knowing your customers. By knowing the needs of customers and the way in which they want to be treated. And by doing your max for their safety, because you are building a relationship with them.

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About Maryum Afzal

Maryum Afzal

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