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Understanding What Your Customers Really Want

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Presented at NYU Stern Technical Product Management II, April 9, 2020

Published in: Business
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Understanding What Your Customers Really Want

  1. 1. Understanding 
 What Your Customers 
 Really Want Understanding 
 What Your Customers 
 Really Want flickr.com/photos/wwworks
  2. 2. @thinknow HI! I’m Lane Goldstone I’m a digital product strategist with an entrepreneurial spirit
  3. 3. @thinknow
  4. 4. @thinknow
  5. 5. @thinknow Back in the day PLAN – BUILD – TEST – SHIP – T-SHIRT
  6. 6. @thinknow Back in the day PLAN – BUILD – TEST – SHIP – T-SHIRT Research & Design ^
  7. 7. @thinknow “9 out of 10 
 new products 
 are failures” www.class-central.com Steve Blank Photo: udacity.com
  8. 8. @thinknow The most expensive
 features you build are the ones 
 nobody uses
  9. 9. @thinknow Don’t scale until you find Product-market fit
  10. 10. @thinknow flickr.com/ photos/joi “ “ flickr.com/photos/betsyweber
  11. 11. @thinknow UNVALIDATED
 ASSUMPTIONS RISK TIME Delayed 
 Customer Feedback Continual
 Customer Feedback
  12. 12. @thinknow The Lean Startup cycle Hypothesis ExperimentEvaluate
  13. 13. @thinknow Tools for product-market fit ✦ Know your customer ✦ Get out of the building ✦ Experiment and Learn
  14. 14. @thinknow Know your customer
  15. 15. @thinknow Micro-segments ✦ Have the same problem ✦ Use the same jargon ✦ Congregate in communities
  16. 16. Photos Lane Goldstone
  17. 17. @thinknow Discussion: What are the functional, social and emotional benefits of Brooklyn 
 Copper Cookware?
  18. 18. @thinknow
  19. 19. @thinknow
  20. 20. @thinknow GOOB* *”Get out of the Building” —Steve Blank
  21. 21. @thinknow Before you GOOB ✦ Who do you want to talk to? ✦ Where do you find these people?
  22. 22. @thinknow How do you find (the right) people? ✦ Your current customers ✦ Your competition’s customers ✦ Social media (Facebook, Twitter) ✦ Special interest groups (Meetups) ✦ Friends and Family ✦ Coffee shops, malls….wherever they are
  23. 23. @thinknow Discussion: Where will we find “copperheads?” How could we screen them from our other micro-segments?
  24. 24. @thinknow
  25. 25. @thinknow Fast user sentiment test Screening Question Prompts
  26. 26. @thinknow Experiment 
 and learn
  27. 27. @thinknow Hypotheses We can attract people who live within a 100-mile radius of NYC to this event via a FB event and Mailchimp mailing. Asking people to RSVP will increase the chances they show up. Spending money promoting the event will result in on-site sales (via more qualified leads attending. ?
 ?
 
 ?
  28. 28. @thinknow
  29. 29. @thinknow What we learned We can attract people who live within a 100-mile radius of NYC to this event via a FB event and Mailchimp mailing. Asking people to RSVP will increase the chances they show up. Spending money promoting the event will result in on-site sales (via more qualified leads attending. FAIL
 FAIL
 
 FAIL
  30. 30. @thinknow Discussion: What are your observations about this experiment? What do you think we did next?
  31. 31. @thinknow New hypothesis We believe Friday 3-7 isn't a convenient time for our micro-segment. We will do our next event on a weekday (T, W, Th) later (6-10) or weekend during the day.
  32. 32. @thinknow Review: Tools for product-market fit Micro-segments Talk to the right people
 in the right way Define hypotheses, 
 fail fast Know your customer Get out of the building
 Experiment and Learn
  33. 33. @thinknow Established product? Learn from your customers continuously
  34. 34. @thinknow Customer Insight / Design Ops ✦ New/growing area of practice for companies with an established user base and key metrics ✦ Mashup of product analytics and lean user research methods ✦ Coordinated listening for all customer touchpoints: call center, analytics, user panels, etc. ✦ Centralized research results, learning backlogs
  35. 35. https://flickr.com/photos/wwworks Talking to customers shouldn’t be a special occasion.
  36. 36. @thinknow Combine techniques: Quant, Qual, Quant ✦ See a pattern (via analytics, customer feedback) ✦ Do a quick user study (user panel, intercept) ✦ Form a hypothesis ✦ Mock up a proposed solution (design thinking) ✦ Test and measure ✦ Repeat!
  37. 37. @thinknow Topic Map a quick, collaborative conversation guide
  38. 38. @thinknow Plan your conversations ✦ What do you want to learn? ✦ Who should you talk to? ✦ Where will you find them? ✦ How will you make the conversation productive? This is a GREAT activity for team alignment and collaboration.
  39. 39. @thinknow You need conversation starters It’s tempting to ask direct questions: ✦ How will you use this? ✦ How much would you pay? We can’t ask directly because people: ✦ Want to be helpful/please us ✦ Don’t have reliable memories
  40. 40. @thinknow The power of stories Talk about recent events and analogous experiences. Where do you usually shop?
 How much would you pay for our product? Think about the last time you shopped for groceries, where did you go? What are you doing to solve that problem now? What does it cost? (time/money)
  41. 41. @thinknow Good customer conversations have Just enough structure
  42. 42. @thinknow AcDvity: Make a topic map
  43. 43. Basket: Real-Time Grocery Pricing App
  44. 44. @thinknow Discussion: Plan a round of customer conversations 
 for Basket ✦ What do you want to learn? ✦ Who should you talk to? ✦ Where will you find them?
  45. 45. @thinknow Activity: Setup 
 Make an account on 
 https://stickies.io and create a new board

  46. 46. @thinknow Activity: Make a topic map 10 min Brainstorm: Write stickies for things you want to learn from your customers (It’s OK to write them as “bad questions” at this point) 10 min Cluster: Organize the stickies, give each group a short 1-3 word name. 5 min Reframe: Think of a conversation starter for each group. How can you get them to talk about the things in this group? 5 min Sequence: Re-arrange the groups so they are in a logical order to support a natural conversation.
  47. 47. @thinknow Discussion: What questions do you have for me?
  48. 48. @thinknow Lane Goldstone www.lanegoldstone.com THANK YOU

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