Asking for feedback & refining your product
Lesson 52 from: Brand Marketing Bootcamp: Build An Actionable Marketing PlanScott Lancaster
Asking for feedback & refining your product
Lesson 52 from: Brand Marketing Bootcamp: Build An Actionable Marketing PlanScott Lancaster
Lesson Info
52. Asking for feedback & refining your product
Lessons
The definition of strategy
03:39 2The 4 stages of marketing
03:16 3The difference between strategy & tactics
03:46 4The 6 laws of marketing
09:56 5Understanding Creative & Distribution
02:16 6The 4 marketing P’s and how to use them
05:08 7SWOT Matrix and how to use it
02:28 8Porter's Five Forces
04:4360/40 Law of marketing
04:04 10The marketing funnel
06:27 11Analyzing your competitors
07:14 12Deciding your target audience
06:59 13Creating your marketing objectives
11:42 14Pricing your products perfectly
08:16 15Watch this before arranging your marketing strategy
02:21 16Awareness, finalizing your awareness tactics
03:52 17Partnerships and affiliates (free tactic)
09:40 18Blog writing & SEO
07:26 19Podcasting
07:10 20Public Relations
05:58 21Giveaways
07:18 22Word of mouth
06:21 23Valuable courses
08:09 24Social media overview
05:28 25YouTube
09:36 26TikTok
03:58 27Twitter / X
04:48 30How to create better content in half the time
07:54 33Why start-ups should never use paid advertising for awareness
06:21 34Education & Consideration
01:33 35Workshops & Webinars
08:39 36Social Proof
06:55 37Effective Email Marketing
05:34 38Utilizing FAQ Sections
05:31 39Portfolio & case studies
07:39 40Leveraging product comparisons
03:26 41Tips to increase desirability
07:22 42Harnessing the power of Google reviews
05:20 43Sales & Conversion
02:28 44Psychological tricks to convert customers to buying
08:25 45Building a list of customers ready to buy
08:46 46Irresistible Offer
08:31 47Persuasive Sales Page
07:35 48Promotions & Free shipping
04:24 49Improving conversion rate (PIPE FRAMEWORK)
06:39 50Customer Retention
03:43 51Expanding your product range
07:18 52Asking for feedback & refining your product
03:37 53Loyalty programs and the subscription model
06:43 54Gifts & Surprises
05:02 55Finalizing your marketing strategy
07:40Lesson Info
Asking for feedback & refining your product
Now, customer feedback and continuous improvement is one of the best ways to retain and actually win the loyalty of your customer base. Now, this approach only works with certain types of businesses. So for example, if you're offering some sort of service or some sort of software, for example, where much like Netflix, for example, where it is literally a recurring payment every single month. This approach is going to work really well for you. If you have a business like that, if you don't then do not worry, it's always going to be good to still get feedback and still to constantly improve your service and what you offer and it's still going to be effective to a point. But all I'm saying is this particular approach does work well or better for membership and subscription businesses where people are paying for something on a monthly or bi annually basis. Now, basically this approach is all about engagement and basically what it means is when you have users using your platform or product ...
or whatever you can ask them for their feedback and then actively refine and improve the platform. Now, let's use this example for a second imagine you're renting a house? Ok. So you're paying for a product or a service, which is the house over time. The house doesn't just stay the same. Oh, no, the house gets better. It gets more refined, it gets more beautiful furniture. It gets easier to live there. It becomes smarter. How long do you think you'd live there? You'd probably stay there forever. Right. I mean, I, I would probably stay there forever. That would be the smart thing to do, right. Just to stay there for your entire life and just have this house get better over time. Well, that's exactly what this approach is suggesting. If you have some sort of software or some sort of digital offer, which you can ultimately refine and perfect over time and make it even better and add more value, then ultimately, you can have this exact same situation, bringing customers in to the house and then ultimately giving them more and more and more and more for the same payment because it doesn't cost you any more. You're just developing new stuff. And what happens is you start to have this customer loyalty of people that stick around because they know that you're going to constantly improve things that you're going to be refining things over and over and over again, which I'm not sure about you, but I certainly would stick around and have stuck around when investing in certain subscription businesses which have been adding value to my life, but then they just keep getting better and better. Now, the pros to this is obviously the customer loyalty and obviously the fact that you are going to be getting a residual income every single month. And you know, that is obviously just going to grow and get bigger and better as more people start to sign up. But in regards to Collins, it does take a lot of time to continuously refine a product and make it better and better and better. And you do obviously risk the fact that you could actually make it worse and people might not like something, but that's something that you just have to assess and take on the chin. Now, in regards to assessing this and scoring it, we're going to score the cost at 10. The reason being is it's is not going to cost a whole lot of money to actually ask for feedback and then actually refine your product afterwards unless you're obviously outsourcing the work, which is obviously a different story. Now, in regards to energy to set up, we're going to that as a six because it is quite a lot of work to be asking for reviews and asking for feedback all the time and engaging with customers. Now, in regards to energy to maintain, once you've actually got that feedback, you get into a routine, it's not actually going to be that bad. So we're gonna score that as an eight and in regards to light the Roi, I'm gonna score that as an eight as well because ultimately, if you are getting the feedback from the customer base and then actually refining your product to make it better for them, it can only be positive. But anyway, I really hope you enjoy this lesson. I'm super excited to continue in the next one. So let's see each other, then see you soon.
Class Materials
Bonus Materials