In the early 2000s, advertisement campaigns extensively used pain and gain ideas. Marketing experts believe that a large chunk of the target audience explains simple everyday items. However, previously, the scenario was vastly different. Commercials are used to discuss everything in detail to sell a product or service to a prospect.

Considering the recent times, these would appear ridiculous to the audience. There are some notable examples of pains and gains in advertising. Every commercial starts with a question for the target customers. It mostly talks about some problem or bad experience before presenting an offer. Regardless of the industry or product, everything commercial highlights a problem. This helps in showcasing the value that the corresponding product brings to the table.

Modern businesses try to take a direct approach to pitching ideas to a potential buyer. However, the idea of pains and gains still holds ground in the advertising domain. Marketers and product developers use it to gain a prominent position in this highly competitive market. Read this article until the end to learn how to create and sell products effectively using this market survey technique.

Understanding the concept of pains and gains

Pains and gains are essentially a way of evaluating customer requirements, highlighting the purpose of a product or service. It showcases how an offering can solve a pain point and impact the customer’s life.

The two main categories of customers in every business:-

• People have come to the table with pains or obstacles, looking for a solution.
• People who are attracted by the promise of benefits.

A product will likely give these solutions or improvements as a pain reliever or gain creators.

For example, an anti-skid mat features a design that effectively solves the problem of slipping. Similarly, adding more features to an already well-accepted product makes it more acceptable among customers.

How does the concept highlight the value proposition?

The idea of a value proposition statement is to summarize the gains a product gives a customer. In other words, it explains what a product can do and its value to the customer.

Often, vague promises result in poor investor pitches, marketing, and even product failure. However, with the help of some quality pains and gains research, one can create statements that convey the target and allow customers to understand value propositions.

Ways of finding customer gains and pains?

Now, businesses should clearly understand how they can recognize customer gains and pains. The best way to put oneself in the buyer’s shoes is to spend some time with the target audience demographic. Collecting customer feedback through statistical analysis is also effective for those with a large customer base. The team members facing customers should help gain insights on complaints, problems, compliments, etc.

Need for an empathy map

Organizations must have access to detailed customer information. One can create a version of an empathy map that is specifically available for deciding pains and gains. Keeping a record of leanings about customer behaviour is the main component of an empathy map. Combining this information with customer profiles can give more specific information about an individual or group. For instance, a person’s profession impacts the set of people they meet and listen to regularly.

Creating products that match well with pains and gains

Only knowing the gains and pains of customers will not help design a product. Two kinds of roles can help people understand pains and gains. Here, the idea is to determine how it can reduce customer pain and add value to their lives. From the view of a product manufacturer, this information should help create new offerings and include new features in an existing offering. After creating a product, it is the job of the marketers to understand how it can solve customer pain points. This is critical when creating a promotion that conveys the value proposition.

Pairing customer needs with product benefits

All the factors discussed above come together on stage. The best way of doing this is with a value map. It helps mix and match pains and gains based on product capacity. All this information allows a business to learn how a product or offering impacts people.

For marketers, it is similar, but the product already exists, eliminating the need to develop something new. They are responsible for developing fresh ideas to showcase an offering to potential customers.

Evolution of customer pains and gains

Customer pains and gains also change with time. The preferences keep on changing constantly. Businesses that are inconsistent in their Statistical Analysis efforts will likely lose significant time and resources in the process.

Conclusion

Therefore it is best to have a clear idea about the concept of pains and gains that can impact  Market Survey. Business owners need to focus on simplifying the process of collecting and analysing information. Pains and gains are highly effective methods of studying buyers’ requirements. Once a business can find out the pains and gains it becomes a lot easier to create a product that fits the bill perfectly.