Business problems

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Business problems by Mind Map: Business problems

1. Need to attract more customers

1.1. Customers don't know they have a problem

1.1.1. Poor awareness

1.2. Customers know they have a problem, but they don't know there's a solution

1.2.1. Poor awareness

1.3. Customers know of some solutions, but don't know about ours

1.3.1. Poor awareness

1.3.2. Poor research

1.4. We're solving a need no one has

1.4.1. Weak value proposition

1.5. We have a very niche customer base that's hard to get in front of

1.5.1. Poor advocacy

1.5.2. Poor choice of market

1.6. Customers don't see the difference between us and cheaper options

1.6.1. Poorly defined value proposition

1.6.2. Poor research

1.6.3. Poor comparison

1.7. We would like to get more customer referrals

1.7.1. Poor evaluation

1.7.2. Poor advocacy

2. Need existing customers to buy more

2.1. Customers choose us once, but don't stick around (high churn)

2.2. Customers love us for one solution, but don't know what all we can do

3. Need a faster sales cycle

3.1. Customers have to undergo a lot of education

3.1.1. Research

3.1.2. Comparison

3.2. Customers have to be convinced of the need or the ROI

3.2.1. Risk/Pain

3.2.2. Comparison

3.3. We have a narrow window of time for the customer to make a decision

3.3.1. Awareness

3.3.2. Research/Comparison Nurturing

4. Need to fix sales funnel

4.1. We have good awareness, but it doesn't turn into sales

4.1.1. We get in front of people, but they won't talk to us

4.1.1.1. Misplaced ask/not enough bait

4.1.2. We have good initial conversations, but then the deal dies on the vine

4.1.2.1. Poor follow-up, low research/comparison resources

4.2. We don't track our sales well enough to know where they come from

4.2.1. We don't know what marketing is working and what isn't

4.2.1.1. Poor attribution

4.2.1.1.1. Not tracking

4.2.1.1.2. Not able to track key points of the journey

4.3. There's not enough consistency between how different sales people operate

4.3.1. Customers come on with different expectations

4.3.1.1. Not enough education in Comparison stage

4.3.2. People form relationships with the salesperson, not the company

4.3.2.1. Poorly differentiated value proposition

4.4. Our close ratio is too low

4.4.1. Prospects take too long

4.4.1.1. It's hard to illustrate the full return

4.4.1.1.1. Too much risk

4.4.1.2. It's hard to illustrate the negative outcome of not making this change

4.4.1.2.1. Not enough pain

4.4.1.3. It's a team decision and it's hard to prioritize the effort let alone reach consensus

4.4.1.3.1. Research/comparison phases not matched to customer types well enough

4.4.2. Prospects are under-qualified

4.4.2.1. We can't get to a decision maker

4.4.2.1.1. Awareness issue

4.4.2.1.2. Not helping initial contact sell well enough

4.4.2.2. We're attracting the wrong type of customer

4.4.2.2.1. Bad awareness

4.4.2.2.2. Bad research

4.4.2.2.3. Bad market with no good market in existence

4.5. Our process was mostly in-person and we need it to be more virtual

4.5.1. Our sales work best if we get into a room and start collaborating

4.5.2. The bulk of our sales happen over time through conferences and events

4.5.3. People have to be here to really get it, we can't translate the experience

5. Need the brand re-vamped to better reflect the company now

5.1. Our company changed and our brand needs to catch up

5.1.1. Need to change perceptions

5.2. We know our entire company needs to change, but we're not sure what that looks like

5.3. Our customers see the brand differently than we do

5.3.1. Need to change perceptions

6. Know we should market, but how?