Customer data driven. There's plenty of data not focused on customers. The P&L comes to mind. Customer data has been the promise of digital since it's inception. Rich, deep, meaningful data on how, what, why and where customers buy. The people who can mine customer data and creat something magical from it that inspires and connects are going to win.
Body by Victoria became a billion dollar brand when customer buying data was complemented with customer research that showed women wore traditional mass produced underwear daily. VA was 30 years old before it figured out it's 6MM active customers would buy daily wear from them.
I am sitting in this space right now - how to contextualize I Want That! for the different segments in my ICP. They all have varying challenges and overlapping challenges that IWT can address:
Affordable Customer Acquisition - we push customers directly to them
Repeat Buyers - our customers buy from companies that deal with them
Improved Margin Performance - we hep retailers price better by disassembling their markup into allowances that are opportunity costs
Generating Cash Flow to Move Inventory - we have a clearance solution to drive cash flow and protect margins while allowing consumers to make the offers rather than marking everything down to everyone.
The first step is finding their top 3 goals for the year and then asking them what parts of their goals are the largest pain points for immediate solution and which ones need resolved but can be pushed down the road a bit (eisenhower matrix - important/urgent)
Now we can contextualize the communications among a dozen or so use cases and variables that will align to how they will use our solution. This is part of our onboarding, we track it in HubSpot then append how they perform with us and refine the ICP subsegments.
We are going down the same path with consumers net year - why are they using IWT? Between the two we will be able to see alignments in needs.
Customer data driven. There's plenty of data not focused on customers. The P&L comes to mind. Customer data has been the promise of digital since it's inception. Rich, deep, meaningful data on how, what, why and where customers buy. The people who can mine customer data and creat something magical from it that inspires and connects are going to win.
Body by Victoria became a billion dollar brand when customer buying data was complemented with customer research that showed women wore traditional mass produced underwear daily. VA was 30 years old before it figured out it's 6MM active customers would buy daily wear from them.
Customer data for the win.
So for the typical SaaS company, what would you recommend be a few customer data points to focus on?
I am sitting in this space right now - how to contextualize I Want That! for the different segments in my ICP. They all have varying challenges and overlapping challenges that IWT can address:
Affordable Customer Acquisition - we push customers directly to them
Repeat Buyers - our customers buy from companies that deal with them
Improved Margin Performance - we hep retailers price better by disassembling their markup into allowances that are opportunity costs
Generating Cash Flow to Move Inventory - we have a clearance solution to drive cash flow and protect margins while allowing consumers to make the offers rather than marking everything down to everyone.
The first step is finding their top 3 goals for the year and then asking them what parts of their goals are the largest pain points for immediate solution and which ones need resolved but can be pushed down the road a bit (eisenhower matrix - important/urgent)
Now we can contextualize the communications among a dozen or so use cases and variables that will align to how they will use our solution. This is part of our onboarding, we track it in HubSpot then append how they perform with us and refine the ICP subsegments.
We are going down the same path with consumers net year - why are they using IWT? Between the two we will be able to see alignments in needs.