Tag: Market Fit

Learnings

Pricing depends on customer perception

Chris Labs

For example, in the customers minds, the difference between 20.95 or 21.95 or 22.95 on your website is not that big. But the difference between 20.95 or 19.95 is huge and should be taken into consideration. In a different scenario, where your product is sitting on a shelf in target. And your competitor sells for 24.95. In this case, whether you price your item at 21.95 or 22.95 will make little difference in the customers’ minds. – Mike Beckham (SimpleModern), (around 8mins) E018: How To Price Your Products. A Deep Dive Special. Continue reading Pricing depends on customer perception

Learnings

Make it a 7-star experience

Chris Labs

First of all, you should think what would be the 5-star experience like. We basically took one part of our product and we extrapolated: what would a 5-star experience be? Then we went crazy. A 5-star experience is: You knock on the door, they open the door, they let you in. Great. That’s not a big deal. You’re not going to tell every friend about it. You might say, ‘I used Airbnb. It worked.’ So we thought, ‘What would a 6-star experience be?’ A 6-star experience: You knock on the door, the host opens and shows you around. On the … Continue reading Make it a 7-star experience

Learnings

Go for the customer, and for the customer alone. Forget the wholesalers, jobbers, retailers, etc.

Chris Labs

And if customers want your product, the jobbers and retailers will flock by dozen to carry your product. They will come to you. Many of the wrecks in advertising come from trying to sell things over and over. One first sells to the jobber, and he demands a large percentage. Then he tries to sell to the retailer. He wants free goods and extra margins. Never forget that. Jobbers and retailers have their own brands. What trade they can influence is never directed toward products you control. If they can influence sales, they make four times as much on products … Continue reading Go for the customer, and for the customer alone. Forget the wholesalers, jobbers, retailers, etc.

Learnings

We don’t sell saddles here.

Chris Labs

This is a copy and paste from this blog post of Stewart Butterfield. Build Something People Want We know that we have built something which is genuinely useful: almost any team which adopts Slack as their central application for communication would be significantly better off than they were before. That means we have something people want. However, almost all of them have no idea that they want Slack. How could they? They’ve never heard of it. And only a vanishingly small number will have imagined it on their own. They think they want something different (if they think they want … Continue reading We don’t sell saddles here.