5 Ways to Know Your Customer Better Than Your Competitors Do

Developing a sound marketing strategy is about locating that intersection between what customers want and where an individual firm can create value better than its competition. It follows, then, that having a better sense than your competitor for what would create customer value is a huge advantage.

If superior customer insight is the goal, how do you get it? Below are five simple steps almost any … [ Read more ]

Rahul Vohra

[Sean] Ellis [has] found a leading [product/market fit] indicator: just ask users “how would you feel if you could no longer use the product?” and measure the percent who answer “very disappointed.” After benchmarking nearly a hundred startups with his customer development survey, Ellis found that the magic number was 40%. Companies that struggled to find growth almost always had less than 40% of users … [ Read more ]

Rahul Vohra

To increase your product/market fit […] spend half your time doubling down on what users already love and the other half on addressing what’s holding others back.

Scott Belsky

Your challenge is to create product experiences for two different mindsets, one for your potential customers and one for your engaged customers. Initially, if you want your prospective customers to engage, think of them as lazy, vain, and selfish. Then for the customers who survive the first 30 seconds and actually come through the door, build a meaningful experience and relationship that lasts a lifetime. … [ Read more ]

Scott Belsky

Whether you’re building a product, creating art, or writing a book, you need to remember that your customers or patrons make sweeping judgments in their first experience interacting with your creation – especially in the first thirty seconds. I call this the “first mile,” and it is the most critical yet underserved part of a product. […] In a world of moving fast and pushing … [ Read more ]

Elad Gil

A lot of founders will go to customers and say “Hey, would you want to use this?” And customers will say “That’s great, we’d love to use it.” And so the founders go off and build it, but when then they come back with a product, no one’s using it. That’s because what they should have asked is, “Would you pay for this?” Being interested … [ Read more ]

How to Capture What the Customer Wants

Companies often fail across digital channels because they are insufficiently aware of the real needs and preferences of their customers across omnichannel journeys.

The Power of a Free Popsicle

A new book shows the value of memorable defining moments on customer and employee experiences.

Payal Kadakia

There’s a behavioral design professor at Stanford, BJ Fogg, who has developed a model that says for any behavior in the world to occur, you need three things to happen at the same time: motivation, ability and a trigger. Motivation can play off of many things, like pleasure or pain, hope or fear. Ability refers to how easy it is to execute the behavior. And … [ Read more ]

Juan Luis Suárez

Consumers have two dimensions. On the one hand, there is the individual that produces and consumes information, and on the other, there is the community member who shares information and whose behavior responds to a flock dynamic. Organize your business processes simultaneously for these two levels of granularity — individuals and groups/communities whose interactions bring about changes in behavior.

Robert Spector, breAnne O. Reeves

When it comes to the song of customer service, everyone knows the words, but few can carry the tune.

Driving Business Growth by Zeroing in on the Consumer Decision Journey

A big part of driving marketing-led growth is getting into, and remaining part of, consumers’ initial consideration set of brands to shop. Companies can give themselves a leg up by making that a priority.

Shelly Palmer

There’s a very strong confirmation bias for all content today, regardless of whether it’s entertainment, news, or just information. It will grow even stronger as technology improves. As content distributors, we are fighting the hardest fight ever: getting through the personal filters of people who have opted into their own world view. Many have no interest in getting out of it. […] The free and … [ Read more ]

How Customer Service Can Turn Angry Customers into Loyal Ones

Good customer service seems like common sense for businesses. But how valuable is it really?

Until now, this has not been rigorously quantified across different companies. Businesses are understandably reluctant to share their CRM and sales data, and most research in this field has been based on surveys. But as more Americans seek customer service online, social media offers a better platform for analyzing interactions between … [ Read more ]

Erin Reilly

We all start out as audience members. But sometimes, when the combination of factors aligns in just the right way, we become engaged as fans. For businesses, the key to building this engagement and solidifying the relationship is understanding the different types of fan motivations in different contexts, and learning how to turn the data gathered about them into actionable insights. […] Although traditional demographics … [ Read more ]

Namit Kapoor, Lavanya Manohar

Sales leaders need to consider two critical but often overlooked factors when assessing their current and future customers: need and behavior. When combined with value, these indicators will reveal the customers whose strategic direction and operating model come together in a way that could make them huge sources of revenue. Sales teams should then tailor their deployment strategies toward these customers.

Victoria Bough, Ralph Breuer, Harald Fanderl, Kevin Neher

The heart of effective customer-experience measurement is the organizing principle of measuring experience at the journey level, as opposed to looking only at transactional touchpoints or overall satisfaction. […] A more holistic measurement strategy starts with an integrated measurement model in which all customer-experience metrics along touchpoints and journeys flow up to a top-line metric (Exhibit 1). It matters less which top-line metric a business … [ Read more ]

Shital Chheda, Ewan Duncan, Stefan Roggenhofer

Digital innovation and user feedback provide a catalyst to simplify products and customer experience, but to capture economic value, you need to take a further step: link the new experience to underlying operational processes. That requires an understanding of two things: what creates value across a given journey from the customer’s point of view (faster cycle time, personalization, cross-channel functionality, and so on) and what … [ Read more ]

Nicolas Maechler, Kevin Neher, Robert Park

Companies need to recognize and address the fact that—at least, in most cases—they are simply not wired to naturally think about the journeys their customers take. They are wired to maximize productivity and scale economies through functional units. They are wired for transactions, not journeys.