One Mistake that’s Killing Your Product

Dear Reader,

Imagine you are a young entrepreneur who has a brilliant idea for a new product. You have a vision of how your product will change the world and make people's lives better.

You think you have created the perfect product.

But when you launch it to the market, you face a harsh reality.

Your product is not selling. Your customers could be happier. Your competitors are beating you.

Until you realize that you’ve missed a crucial step in the product development process.

You have not listened to your customers.

You have not asked them what they want, what they need, and what they think about your product.

This is a common mistake that many entrepreneurs make. They fall in love with their ideas and ignore the voices of their customers.

They end up creating products that nobody wants or needs.

You need to be willing to change your product based on what your customers want.

That's how you build a product that people love.

And here’s how you can listen to your customers more effectively:

? Use multiple channels to collect feedback.

• Get more and more diverse feedback from different sources.
• Examples: surveys, reviews, interviews, social media, etc.

? Ask open-ended and specific questions.

• Avoid yes/no or rating questions that limit the feedback.
• Examples: “What do you like most about our product?”, “What are the main challenges you face when using our product?” etc.

? Segment your customers and prioritize your feedback.

• Understand who your customers are and what they want.
• Segment them based on criteria such as demographics, behavior, preferences, needs, etc.
• Identify your target audience, ideal customer profile, and customer personas.

? Analyze your feedback and find patterns and insights.

• Organize, categorize, and summarize your feedback.
• Look for patterns and trends in your feedback data.
• Find out what common themes, issues, requests, suggestions, etc. emerge from your feedback.

? Act on your feedback and implement changes in your product.

• Use your feedback insights to guide your product development decisions.
• Communicate with your customers about the changes you make and how they address their feedback.

Thank them for their feedback and show them that you value their opinions.

These are some of the tips and methods that I hope will help you collect and act on feedback from your customers.

Do share this newsletter if you find it useful and interesting.

If you have any questions or comments, feel free to DM me. I'd love to hear from you.

Until next time,

Tulika