Why you should listen to your customers?
I’ve been with a client today who has a product. A product that they’re looking to evolve, develop and take to the next level.
At the last board meeting, we were debating some of the features and benefits that we should look to enhance for the future development of the product.
At this meeting, we had a discussion around really embracing the thoughts of current customers and current prospects.
So, what they’ve done is they’ve gone away and extended an invite to their existing customers and a few of their prospects to develop an advisory group where they can sit around a table on a regular basis and then can talk about some of the key aspects of the offering and what some of the bells & whistles, features and benefits would be for the future evolution of the product.
And they have got some fantastic insight.
They’ve got tons of customers that have really signed up and said, look, we’d love to contribute and help you develop the future version of the product because it’s going to help us.
So, the essence of the story for me is, don’t surmise what you think is right for your product. Yes you will have a gut feel. But engage your customers and give them the opportunity to influence the future product or service evolution that you have in mind.
And if your customers are the ones influencing it, they’re more likely to buy into that and pay you the premium that you want to charge for that future product or service.
So whatever vehicle you use, find a way to tap into the insight, the knowledge and the thoughts of your existing customers, and some of the prospects that you’re engaging, and they will tell you what the future state of the product and service should look like.
Listen to customers and let them drive your future product and service development.
I hope that’s been of value. Take care for now.