In Episode #340, Eric and Neil discuss how to do customer development. Tune in to learn the importance of getting every kind of customer’s feedback so that you can to adjust your sales strategy and boost your revenue, today!
Time Stamped Show Notes:
- 00:27 – Today’s topic: How to Do Customer Development
- 00:36 – Customer development is reaching out to customers and knowing their preferences and feedback
- 01:05 – The two types of data are qualitative and quantitative data
- 01:06 – Quantitative is what you get from Google Analytics
- 01:11 – Qualitative is from customer development
- 01:20 – You can’t easily know the problem just by looking at the data
- 01:35 – You can get the qualitative data from talking to your customers
- 01:59 – One of Neil’s friend sells HDMI cables and other electronic devices
- 02:05 – Customers don’t buy from Neil’s friend’s site because he doesn’t offer free shipping
- 02:17 – Neil’s friend took the average cost of shipping, added it to the product price and offered free shipping
- 02:52 – Steve Blank’s 4-step framework
- 03:27 – Getting your customers on the phone is very important
- 03:37 – You want to solve your customer’s’ problems
- 03:49 – Make adjustments from the feedback you receive
- 04:16 – You want to talk to every kind of customer, not just the one paying you
- 04:39 – Marketing School is giving away a free 1 year subscription of Drip which is an email automation tool
- 05:10 – That’s it for today’s episode!
3 Key Points:
- Reach out to your competitors’ customers and those who left you—not just your paying customers.
- Having both qualitative and quantitative data will better inform the adjustments you can make to your product and services.
- Address the feedback and make the necessary adjustments.
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