How to ignore vanity metrics and build for your HXC part 2

Thanks for joining us today again. Yesterday we stopped at the need for researching to help you understand your high expectation clients. We’ll continue a bit deeper today on that part.

Define your customer:

Now from the results of the survey you've gathered, you discover two key things: You will get to understand the mindset of your customers and you will get firsthand information of what your high expectation customers want.

This would help you define your ideal customer so you know them inside out. Now you also want to get your team on board so everybody can better understand your ideal customer profile.

Reminder the reason we are doing all of these is so we can identify the people who are not too excited about the product and we can cut out building for them. A lot of companies are caught making the mistake of changing their entire product for customers who are not particularly the high expedition customers. This is a difficult thing to do and it affects your product roadmap then it goes ahead to affect your company culture and work ethics as a whole. Your high expectation customers usually have urgency and are very willing to give you their . So you want to make sure that your entire team is 100% percent aware of who your ideal customer is and that everybody is focused on creating a better solution for that particular customer subset. Of course there's still a lot of work to be done after you've identified your high expectation customers and you’ve aligned your team to follow that mindset of creating more value for this particular subset of users. Everything about your company from now on, from your strategy, communications, branding and everything literally has to be altered to focus on the expectations of your HXC. A lot of the times you might have to cut out features or improve on several features or even build out new and better features just to address a situation that concerns your high expectation customer.

This would also affect your marketing because now you have heard your HXC define what they think they are best or biggest benefits in using your product so when you're developing marketing messages, you can easily tweak your messaging to have those exact words. Using their words makes sure you are targeting the right people as opposed to selling to everybody. The more specific your marketing messaging is the more the probability that you will target the right people in your adverts and promotion. This would mean you spend less and achieve more when running ads. Never be afraid to use the words of your high expectation customers when coining your value add.

You've invested heavily in gathering data now you have to use the data to channel your company vision and energy in the right direction. Your company messaging has to line up with the feedback of your HXC. So you need to identify the ways you can do some A/B testing and, while of course, this is not going to happen in 24 hours, ultimately you want to be able to incorporate it into your vision, branding, messaging, marketing, company culture and product roadmap.

Understand that your HXC are real people living in the real world and because we live in a dynamic, ever changing world with changing needs, you need to regularly revisit your targets to make sure you're still hitting the mark. Pay attention to negative returns like engagements that is dropping, time spent or money spent reducing and all of those little indicators that shows that you might be moving away from solving the needs of your HXC and they are beginning to look for alternatives. So every now and then, after a while you need to take a step back and ask yourself - how has the world evolved? And has the expectations of my customers shifted? Have they grown? Have their needs and expectations changed from what it originally was when we ran this survey?

The most critical thing about identifying your high expectation customer is that everyone in the company now knows who to serve and where to focus energy on. These things have a ripple effect as your users will understand the product better and know how to gain value out of the product. A key benefit for you is that you can slash your cost of customer acquisition as you now have a clear value proposition for a specific subset of users and you have clearly articulated value you’ll add along the way and this is clearly stated in your product roadmap.

But one thing with startups is that the work is never done, you need to keep checking in with your high expectation customers to see if the product still solves their needs. Your goal is to constantly run surveys and gather valuable feedbacks which you’ll use to develop or fine-tune features to suit them better, you need to keep learning about them so it's you can serve better.

Thank you for joining me today

THE END

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