BBusiness

How to put the customer at the center of everything you do to build great products, brands, and companies

Consumer science is the scientific method of forming hypotheses about customer behavior and then testing them. It is the best way to build a culture of customer obsession and to discover what delights customers in hard-to-copy, margin-enhancing ways.

In the current business environment, consumer science is essential for businesses to stay competitive and meet the ever-changing needs of their customers. By understanding what their customers want and need, businesses can develop products and services that are more likely to be successful.

How does consumer science empower the customer obsession mindset?

Customer obsession means a healthy preoccupation with customers’ unanticipated future needs. It is about using a mix of research techniques to put the customer in the center of everything you do so that you begin to see the product through their eyes.

Consumer science empowers the customer obsession mindset by providing businesses with a systematic way to learn about their customers. By using a variety of data collection and analysis methods, businesses can identify patterns in customer behavior and develop hypotheses about what customers want and need.

How does Netflix use consumer science?

Netflix is a company that is known for its customer obsession. The company uses consumer science extensively to improve its products and services.

For example, Netflix used consumer science to develop its recommendation algorithm. The company collected data on how customers watched movies and TV shows and used this data to develop an algorithm that could predict what customers would like to watch next. This algorithm has been one of the key factors in Netflix’s success.

Netflix also uses consumer science to improve its user interface. The company regularly conducts user tests to see how customers interact with its products and services. This feedback is used to make changes to the user interface that make it easier for customers to use.

How to start the revolution in your company?

If you are a product leader or engineering leader, you can start the revolution in your company by starting a discussion on the following questions:

1. Does your company have well-defined matrices that help you in forming new hypotheses—and also educate your team about delights and margins?
2. Do you have the ability to gather “sample data” from customers to build a trend line and identify mistakes quickly?
3. Does your team meet and talk with customers to develop the “voice of the customer” within your organization?
4. Do you have the ability to do A/B testing—and develop your product intuition?

There is just one more crucial requirement: Patience. Most companies struggle with this in the beginning, and becoming a great company takes about twenty years. Jeff Bezos says that Amazon followed three ideas for 18 years, and that’s what made them successful: Put the customer first. Invent. And be patient.

What are your thoughts on consumer science? How do you use consumer science in your company? Share your thoughts in the comments below!

You can read the original article written by Gibson Biddle.

Increff

15 November, 2023