A Quote by Steve Blank
Part of Customer Development is understanding which customers make sense for your business.
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Your customers are the lifeblood of your business. Their needs and wants impact every aspect of your business, from product development to content marketing to sales to customer service.
Customers are a great way to finance a business for many reasons. First, customer financing is typically non dilutive. They want something from you other than equity in your business. Customers also help you fit your product to the market. And customers will help debug and improve the quality of the product.
That's a very critical phase in customer service because you can start to really understand what part of customer service has value to customers and what part is bothering customers.
The art of entrepreneurship and the science of Customer Development is not just getting out of the building and listening to prospective customers. It's understanding who to listen to and why.
The outside-in discipline requires that you have an explicit customer-based reason for everything you do in the marketplace. Managers need to create what I call "customer pictures," verbal descriptions of customers that highlight the key customer characteristics and make those customers come alive. Although managers never know as much about customers as they want and need to know, the outside-in discipline requires that they construct customer pictures anyway, basing the pictures on whatever hard data they have plus hypotheses and intuition.
It is surprising how little most small business values the customers. A positive feedback from the customer is critical to your business, and what's more important is their referral.
Traditional sales and marketing involves increasing market shares, which means selling as much of your product as you can to as many customers as possible. One-to-one marketing involves driving for a share of customer, which means ensuring that each individual customer who buys your product buys more product, buys only your brand, and is happy using your product instead of another to solve his problem. The true, current value of any one customer is a function of the customer's future purchases, across all the product lines, brands, and services offered by you.
Marketing is your battle plan for the sales team - it's about defining the landscape. Marketing is doing cohort analysis and understanding exactly what possible customers are out there. It's understanding not only which customers will respond to what messages, but also how customers will become clients if you include certain product features.
My aspiration is that M&M become one of the most customer-centric organizations in the world. If we focus on understanding our customers, we will be able to develop customer-centric innovations.
Everyone is in the business of customer satisfaction.Wh o are your customers and how are they doing?
Those memories of living in a developing nation are part of who I am today and give me a profound understanding of the challenges of economic development - an understanding which will make my tenure as Peace Corps director, I hope, a very special one.
Authentic marketing is not the art of selling what you make but knowing what to make. It is the art of identifying and understanding customer needs and creating solutions that deliver satisfaction to the customers, profits to the producers and benefits for the stakeholders.
Loyal customers, or customers who recommend their friends, give me the most pride. I think that is the biggest compliment I can get. I think in the restaurant business, it takes patience from the customer to spark up a relationship with the restaurateur, but it takes also work from the restaurateur to spark up a relationship with his customer.
When you can show concern about what matters to your customer, that's Business to Customer Loyalty, and you can bet on it, you've just acquired a customer for life.
To achieve consistently terrific customer service, you must hire wonderful people who believe in your company's goals, habitually do better than the norm and who will love their jobs; make sure that their ideas and opinions are heard and respected; then give them the freedom to help and solve problems for your customers. Rather than providing rules or scripts, you should ask them to treat the customer as they themselves would like to be treated - which is surely the highest standard.
A lot of the philosophies of the businesses are just 'we're interested in getting customers now and if we're losing money with each customer now that's okay because we have this huge hoard of venture capital that we can subsidise the operation with and once we have the required number of tens of millions of customers and we drive our competitors out of business, then we can start to raise prices and become a proper business.'
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