How to Solve Big Hassles to Create Big Premiums - A Guide to Unlocking Market Opportunities

In today’s fast-paced world, businesses that succeed are those that identify and solve customer problems, especially those causing frustration or inconvenience—also known as hassles. At KEVOS, we believe the bigger the hassle you solve for your customers, the bigger the reward or premium you earn. This article will guide you through how solving these pain points can position your business to thrive in Australia, using real-life examples and innovative solutions that can transform your business model.

What is Hassle Premium?

A "hassle" is any burning problem or inconvenience faced by your customer. It could be time wasted, excessive effort required, uncertainty, or confusion in the process of purchasing or using a service. The premium refers to the profit gained by resolving that issue—either by charging a higher price for the convenience you offer or by gaining a larger share of the market.

Simply put: The bigger the hassle solved, the bigger the premium you can charge or the larger the market share you can capture.

Let’s explore some common hassles and how you can address them to create value for your business.

1. Takes Too Much Time to Complete a Task

In a world where time is money, customers are increasingly impatient. If buying your product or service takes too long, customers will look for alternatives. By identifying and reducing the time your customer spends in the purchasing process, you create a powerful connection.

Example:

Take real estate. Websites like Magicbricks and 99acres in India allow potential buyers to filter properties based on size, location, and price within minutes. This saves hours or even days of searching, reducing a significant hassle.

At KEVOS, we help local businesses speed up processes like these by simplifying their customer journey—whether it’s setting up a streamlined online booking system or automating parts of the sales funnel.

2. Reduce Your Customer's Effort

Customers today seek ease of use. If your product or service requires too much effort to access, it becomes less appealing. Your role is to reduce the friction points that cause your customers to put in extra effort.

Example:

Uber and Ola transformed the taxi industry by making the process of booking a ride seamless through an app. Instead of standing on the roadside or negotiating prices, customers can now book, track, and pay for their ride effortlessly.

For KEVOS clients, we aim to make their services effortless by integrating customer-friendly solutions like automated bookings, delivery services, or easy-to-use interfaces.

3. Reduce Complexity, Uncertainty, or Confusion

Too many choices or unclear information can paralyze a customer’s decision-making. Simplifying your offering can make your customer’s life easier and build trust.

Example:

Before online insurance aggregators like PolicyBazaar, buying insurance was complex and confusing. Today, platforms offer side-by-side comparisons, allowing customers to easily choose the right plan.

At KEVOS, we emphasize clarity in our clients’ services. Whether it's through straightforward product comparisons or easy-to-read service descriptions, reducing confusion enhances the customer experience.

4. Can You Reduce the Price?

Price sensitivity is a significant factor in many markets, including Australia. If your product is too expensive or doesn’t match its perceived value, customers may turn away. Lowering the price can open the market to a wider audience.

Example:

Xiaomi captured the Indian smartphone market by offering high-specification devices at significantly lower prices than its competitors. Similarly, OYO Hotels reduced the cost of staying in a 4-star hotel by offering it at the price of a 2-star room, growing rapidly across markets.

KEVOS helps businesses find ways to reduce costs through operational efficiency, enabling you to pass savings onto your customers and grow your market share.

5. Reduce Uncertainty with Prior Experience

Customers can hesitate to buy when they’re uncertain about what they’re getting. You can reduce that uncertainty by providing a prior experience or demo of your product.

Example:

In Australia’s booming real estate market, virtual reality (VR) is increasingly being used to give prospective buyers a virtual tour of properties. This allows them to visualize their future home and feel more confident in their purchase decision.

At KEVOS, we can help you implement VR or other immersive tools to provide a preview of your product or service, ensuring customer confidence and satisfaction.

6. Focus on Priority

Often, businesses get bogged down in non-core activities, reducing their focus on growth areas. By encouraging your customers to focus on high-growth areas, you add value.

Example:

Apple Inc. outsources its manufacturing to focus on innovation and design—areas where it truly excels. By concentrating on its strengths, Apple maintains a competitive edge and a premium price point.

At KEVOS, we work with clients to identify their core strengths and help them outsource or automate lower-priority tasks, allowing them to focus on what really matters: growing their business.

7. Finding Special Skilled Services

There are numerous services customers can’t or don’t want to handle themselves, from plumbing to beauty services. Offering a way for customers to access these services easily can be a game-changer.

Example:

UrbanClap (now Urban Company) solved this hassle by creating a marketplace for skilled services, allowing customers to book anything from a haircut to appliance repair from their phone.

At KEVOS, we help businesses create platforms that connect customers to specialized services, increasing convenience and trust.

8. Vendor Management Services

Managing multiple vendors is often a hassle for businesses. Simplifying this process can create a valuable solution.

Example:

In Australia, platforms like Oneflare and hipages allow users to find, compare, and hire trusted tradespeople. This reduces the hassle of managing various vendors and guarantees a smooth process.

KEVOS offers vendor management solutions to simplify this process for your business, ensuring that you can focus on what you do best.

9. Providing Expensive Equipment on Demand

Some projects require specialized equipment that’s too expensive for customers to buy outright. Offering these on a rental basis saves them money and effort.

Example:

For construction projects, renting out machinery like excavators or bulldozers is often a more economical solution than purchasing outright. Businesses that provide this service enjoy steady demand and loyalty from customers.

KEVOS supports businesses in setting up rental models or providing specialized equipment services, ensuring customers can get what they need without hefty upfront costs.

10. Solving Daily Operational Inconveniences

Day-to-day operations are filled with minor hassles that, when solved, can greatly improve customer satisfaction.

Example:

Heinz revolutionized the ketchup industry by changing their bottle design from glass to squeezable plastic, making it easier to pour. Small innovations like these can result in significant customer satisfaction.

KEVOS specializes in helping businesses identify and solve these daily inconveniences, whether it’s through product design improvements, operational tweaks, or customer service enhancements.

Ready to Create Big Premiums by Solving Big Hassles?

At KEVOS, we help Australian businesses identify their customers' pain points and turn them into opportunities for growth and profit. Whether it’s streamlining your operations, enhancing your customer’s experience, or introducing innovative solutions, we’re here to assist you in solving the big hassles and reaping the big rewards.

Contact us today to learn more about how we can help your business thrive in an increasingly competitive market!