My FailCon 2010 presentation on how not understanding your customers will kill your company faster than anything else.
Want to better understand your customers? Read this and then sign up for http://www.uservoice.com
7. Listening Failures Customers said: 30-second load times suck Friendster focused on: VOIP Data: http://www.nytimes.com/2006/10/15/business/yourmoney/15friend.html
8. Listening Failures Customers said: 30-second load times suck Friendster focused on: VOIP Result: $30MM to ??? Data: http://www.nytimes.com/2006/10/15/business/yourmoney/15friend.html
10. Listening Failures Customers said: We don’t want more work Data: http://blog.precipice.org/why-wesabe-lost-to-mint
11. Listening Failures Customers said: We don’t want more work Wasabe focused on: Effort-heavy features Data: http://blog.precipice.org/why-wesabe-lost-to-mint
12. Listening Failures Customers said: We don’t want more work Wasabe focused on: Effort-heavy features Result: Mint $170MM, Wesabe $0 Data: http://blog.precipice.org/why-wesabe-lost-to-mint
93. May not be your best or stickiest customersSolution: Limit votes so everyone is at the same volume Photo : http://www.flickr.com/photos/28096801@N05/4581041971/in/photostream/
94.
95.
96. Y! properties: average 4.5 out of 5 starsPhoto & Data: http://buildingreputation.com/writings/2009/08/ratings_bias_effects.html & http://youtube-global.blogspot.com/2009/09/five-stars-dominate-ratings.html
99. YouTube tried like/dislike, still had the J-curvePhoto & Data: http://buildingreputation.com/writings/2009/08/ratings_bias_effects.html & http://youtube-global.blogspot.com/2009/09/five-stars-dominate-ratings.html
107. (Almost) nobody rates badlySolution: Only allow up votes, don’t default to top ideas Photo & Data: http://buildingreputation.com/writings/2009/08/ratings_bias_effects.html & http://youtube-global.blogspot.com/2009/09/five-stars-dominate-ratings.html
151. Conclusion You have the tools to win: Actively solicit feedback Avoid the vocal minority and the J-curve
152. Conclusion You have the tools to win: Actively solicit feedback Avoid the vocal minority and the J-curve Spend the time understand what people are really saying
You’re smart. We all know you can fail from lack of listeningWasabe – Spending tracker - Wesabe had a higher goal, but people didn’t want the work of balancing a checkbook - Mint acquired for $170M,Wasabe shut down
You’re smart. We all know you can fail from lack of listeningGoogle Wave – huge Google focus, hailed as the next big thing, nobody understood how it worked – shut down barely a year after launchSo you know to listen, but do you know to understand?
You’re smart. We all know you can fail from lack of listeningGoogle Wave – huge Google focus, hailed as the next big thing, nobody understood how it worked – shut down barely a year after launchSo you know to listen, but do you know to understand?