What is a pain point?
A pain point is a specific problem that is being experienced by a customer or stakeholder and which bothers them. It is a problem that is awaiting a solution. A pain point is mainly identifying things that people want to be fixed. It may or may not be a real problem but is perceived as an obstacle that hinders the customer or stakeholder from finding a solution to their problems. Pain Point Analysis template below explains how it can be used to analyze business pain points.
List of pain points:
While the pain points of the customers can be grouped into several broad categories, below are the 4 main types:
Financial pain points:
This pain point is mainly when the customer realizes that they are spending too much money on their current provider or product or service and aim to reduce their spend
Productivity pain points:
The customers are wasting too much time on their current provider or product, or service and want to use their time efficiently
Process pain points:
This pain point is that the customer has identified complicated internal processes and wants to improve them
Support pain points:
The customer is not receiving the support they require at critical stages of their customer journey.
When you view the customer’s pain points in these categories, it allows you to start thinking about how to market your company or product as a solution to your customer’s problem. For example, if a customer is facing finance-related problems, it would be wise to highlight your product's features that will address these pain points.
Why is pain point analysis useful?
One key benefit of analyzing pain points is that it can help identify the customer’s requirements. It may not always be easy to find the right set of customers who would be interested in the products your company is selling. Knowing your customer’s pain points is the first step towards providing them the products and services they want. Conducting an analysis can help identify the customer’s pain points, thereby marketing your company’s products and services to address these issues.
How to identify a customer’s pain points?
Some of the other ways to find out customer pain points are as follows:
- Talk to customers to learn what they are looking for - a good way to find out what the customer is looking for is by conducting market research. It helps to gauge what the customers want and what are their major pain points.
- Look up social media for comments - Many customers are active on social media and often use it to discuss their issues and problems. Analyzing these comments can help identify their pain points by understanding what exactly the customers are looking for and what improvements are needed.
- Search engine research - Finding specific keywords of what you are looking for can help understand what the customers are searching for in search engines.
- Analyze customer feedback - Last but not least, obtaining direct feedback from the customers via means of surveys can help get insights into their pain points. If a common issue is identified across various customers, it should be considered as the biggest pain point and should be addressed with priority.
Your customer’s pain points are the main drivers behind their need for your products and services. Identifying and addressing these pain points helps provide better quality services to the customers, thereby leading to happy customers.