2423 Posts Found

The root of all innovation evil is the failure to put the customer’s willingness to pay [WTP] for a new product at the very core of product design. Most companies postpone pricing decisions until after the product is developed. They embark on a long, costly journey of hoping they’ll make money rather than knowing they will. You can ensure your product not only stays alive, … [ Read more ]

Content: Quotation | Author: Madhavan Ramanujam | Source: First Round Review | Subjects: Customer Related, Innovation, Marketing / Sales, Pricing

We found that individuals with a high sense of social connectedness felt their individual actions would generate a greater impact on a larger scale and, as a result, tended to be the most socially conscious consumers. Overall, the social values self-reported by the respondents were a less reliable predictor of behavior than the feeling that they, as individuals, could make a difference. This result is … [ Read more ]

Content: Quotation | Author: Natalia Karelaia | Source: INSEAD Knowledge | Subjects: Customer Related, Marketing / Sales, Social Responsibility (ESG)

What strikes me as really interesting is that in advanced economic systems, we’re seeing that more and more products and services — at least, personal products and services — are being chosen on the basis of their perceived authenticity. Among consumers, the appeal of authenticity is stronger than almost any other attribute. I don’t know whether it means that quality has become so good that … [ Read more ]

Content: Quotation | Author: Glenn R. Carroll | Source: Stanford University | Subjects: Customer Related, Marketing / Sales, Quality

It’s hard to find a decision or behavior that isn’t affected by other people. In fact, looking across all domains of our lives, there is only one place we don’t seem to see social influence — ourselves.

Content: Quotation | Author: Jonah Berger | Source: Stanford University | Subjects: Marketing / Sales, Organizational Behavior, Personal Development, Personality / Behavior

Brad Feld discusses a very simple operant conditioning loop framework for increasing conversion which uses a binary measurement for each new user – they are either healthy or unhealthy.

Editor’s Note: This is a short read that more or less echoes the ideas found in a detailed article by Myk Pono.

Content: Article | Author: Brad Feld | Source: Feld Thoughts | Subjects: Customer Related, Marketing / Sales

This guide attempts to describe how companies design lead nurturing campaigns and how lead scoring can help prioritize leads and improve conversions, as well as how lead nurturing strategy affects the creation of drip email campaigns. The primary goal of this article is to help you design or improve your current lead nurturing strategy. But the ultimate goal is to provide marketers and founders with … [ Read more ]

Content: Article | Author: Myk Pono | Source: Medium | Subject: Marketing / Sales

If pricing is adjusted on a regular basis, it trains your customers to understand that the value is going to be changing as the product is improving. The worst thing you can do is add so much value over the course of three to five years — even 12 months — and then all of a sudden want a big bump from your customers who … [ Read more ]

Content: Quotation | Author: Patrick Campbell | Source: First Round Review | Subject: Pricing

Early on, many startups don’t want to show prices — and that’s okay. Most don’t really know what they should charge, so they prefer to get intel by asking inbound customers some pricing questions. However, when you reach a point where you want a touchless sale, then you need to show your pricing. If it’s not a clear number, such as in Wistia’s case, give … [ Read more ]

Content: Quotation | Author: Patrick Campbell | Source: First Round Review | Subjects: Entrepreneurship, Marketing / Sales, Pricing

Madhavan Ramanujam is to monetization strategy what Bob Marley is to reggae music. He’s managed over 125 projects for companies ranging from hot startups to the Fortune 500. Drawing from his talk at First Round’s CEO Summit, Madhavan Ramanujam explains why pricing is so paramount from the get-go and the four ways companies often trip up when trying to monetize. He also shares the three … [ Read more ]

Content: Article | Author: Madhavan Ramanujam | Source: First Round Review | Subject: Pricing

The article introduces you to the Sean Ellis Test for assessing Product Market Fit. Further, the article explores the benefits and limitations of the Sean Ellis test, and finally discusses in detail how to properly apply the test for a positive outcome in your business.

Content: Article | Author: Martin Luenendonk | Source: Cleverism | Subjects: Entrepreneurship, Marketing / Sales, Strategy

If you want to understand the future, just look at what rich people do today.

Content: Quotation | Author: Hal R. Varian | Source: Medium | Subjects: Future, Innovation, Management, Market Research

It takes 30 years for a new idea to seep into the culture. Technology does not drive change. It is our collective response to the options and opportunities presented by technology that drives change.

Content: Quotation | Author: Paul Saffo | Subjects: Change Management, Innovation, IT / Technology / E-Business, Marketing / Sales

When I arrived at Pinterest I would think, growth owns acquisition, activation, retention, resurrection, virality. I think in some ways it’s healthy to start there. I think about how you start a growth organization, you usually start by those problems, like, “Oh, we need more users.” Or, “We need to improve our retention.” Then you evolve into thinking about a more holistic funnel as you … [ Read more ]

Content: Quotation | Author: Casey Winters | Subjects: Management, Marketing / Sales

If you’re looking for a competitive edge, a way to establish your authority, a way to get more followers, one of the best, proven paths to online success is content curation. It’s both as simple and as difficult as finding great content and sharing it with your audience. The difficult part is that there is a lot that goes into a world class content curation … [ Read more ]

Content: Article | Author: Kevan Lee | Subjects: Career, Marketing / Sales, Personal Development, Productivity / Work Tips

Since leaving YouTube in 2009, Julie Supan has become one of the most sought-after branding experts in Silicon Valley, helping companies like Dropbox, Airbnb and Thumbtack craft their positioning prior to launch. Her first step? Identifying their target user—the high-expectation customer. In this exclusive interview, she explains who that is, how to find them, and why every startup needs to ditch generic platitudes and start … [ Read more ]

Content: Article | Author: Julie Supan | Source: First Round Review | Subjects: Brand, Marketing / Sales

Questions not only mean the customer is engaging, but also transferring feedback that is process-oriented or value-oriented. They’re working through how they’re going to make a decision about your product with you. If they’re asking questions, something’s landed. That’s a good sign. If they ask about another customer, your example may not have been sufficiently relevant — that’s a sign to change tacks and dig … [ Read more ]

Content: Quotation | Author: Whitney Sales | Source: First Round Review | Subjects: Customer Related, Marketing / Sales

While every product team I’ve worked with leverages customer feedback to inform product decisions in some way, most fall short of designing their customer feedback loop to maximize the benefits to the product team of gathering, recording, and synthesizing feedback. They also often treat customer feedback as a point-in-time activity as opposed to a far more helpful continuous process. I wanted to share some of … [ Read more ]

Content: Article | Author: Sachin Rekhi | Source: Medium | Subjects: Customer Related, Marketing / Sales

Follow-up emails sent exactly one hour after customers abandon online shopping carts/booking forms have the highest conversion rates, according to recent research from SaleCycle. The report was based on data from an analysis of cart-abandonment email campaigns sent by 500 major retail/e-commerce brands. Check out the infographic for more insights from the research.

Content: Article | Author: Ayaz Nanji | Source: MarketingProfs | Subjects: IT / Technology / E-Business, Marketing / Sales

Price Intelligently Co-founder and CEO Patrick Campbell has seen startups and multinationals alike labor to perfect products only to casually raise their finger to the wind when it comes to determining pricing. In this exclusive interview, Campbell deconstructs and walks through the elements of a pricing strategy to enable startups to more effectively acquire customers. The foundational work behind pricing is to create, test and … [ Read more ]

Content: Article | Author: Patrick Campbell | Source: First Round Review | Subject: Pricing

Bottom Line: When it comes to consumer goods, infrequent purchasers, not faithful customers, seem to drive market-share growth.

Content: Article | Author: Matt Palmquist | Source: strategy+business | Subjects: Customer Related, Marketing / Sales