Eamonn Carey from Techstars -one of the biggest accelerators in the world- gives advice on how to build products that people will love and then how to make people like you to retain users. You may not know this but a 5% increase in customer retention can mean a 30% increase in profitability for companies. He believe this is how you will be successful on your entrepreneurial journey:
- Scratch an itch that people have and remove friction: those tiny bits of friction i, people’s lives are an incredible source of ideas of products that people will love. Even better, find a solution to a problem you experienced yourself.
- Figure out what your unfair advantage is: if you understand the market much more than the next person you have a much better chance to address that market and achieve something.
- Make it fast: make products that are fast to have your customer love them. It can even be your value proposition. 1 second delay in load time leads to a 16% decrease in customer satisfaction and a 7% loss in conversions.
- Be clear: be clear about what your product does, it has to be obvious. What is the positive difference you’re making in their lives. Make it easy to get started, use and understand.
- Give a reason to come back: notifications a good
- Don’t be afraid to change
- See who is doing things well: use useronboard.com
- You need to meet your customers, if you don’t guide them they won’t use it properly. So have your products tested by civilians usertesting.com and peek.usertesting.com for pre revenue testing and also get experts to try it: opentest.co
- Delight people and make them smile
- Cultural references work, it gets people to talk about it
- Don’t be cheesy
- Talk to your customers and be nice to them
- Be human when you fuck up: apologize
- Last but not least: Don’t be annoying and Don’t be a dick to your customers
It’s easier to sell to a customer than to sell to a new user so cherish your customers.
You can watch the whole talk here
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