Product quality as marketing

Product quality as marketing

Lesson Details:
April 24, 2020

Video Transcription: In this video, I want to talk about the quality of your product or service this video is brought to you by Appy Pie’s Academy.  in something called the Net Promoter Score the net promoter score is actually a calculation that you can make and determine how many people are sharing your product or service we're not gonna do that here because it requires knowing how many people detract and how many people promote for most businesses that's not a number you can actually accurately know because you really don't know what your clients do after they consume your product or service so it's not a realistic calculation for most businesses but there is a really valuable takeaway and that is that there are three types of customers that are gonna interact with your business people who truly love your product or service these are the people who will promote it they will share it they will talk with about it with their friends those are the people that you want to maximize for most businesses there are a few of them for most businesses the majority is in the middle the second type of client which is people who are lukewarm you know they're okay they got your product or service they bought it once it did its job but like they're not like wild and that means they're not gonna say anything bad but they're also they're not gonna talk about it they're not gonna share it they're not gonna promote it and very likely they are not going to come back again to your business unless they really really really need what your businesses and absolutely nobody provides it better which is actually rare so in most cases they don't come back which is bad and then the third type of a client is people who hate your business and detract these are people who leave bad reviews they take refunds on the products they do other things that are bad you want to minimize them this is for me in my career this has been a really valuable way to look at clients and my work is always to figure out how do I make the people who hate my business into lukewarm clients and the people who are lukewarm into people who love my business and I just want to always increase people who love my business because that just does everything right.

When people are happier they do more what you want they do more social sharing they invite their friends which is essentially client referrals and other professionals in your field are gonna be more likely because of your high reputation to give you professional referrals as well you're gonna get more repeat customers so it's actually so this is something that actually boosts your revenue directly and everything that you improve about your product or service is going to correlate with more sharing and and if you leave it bad if it's not that great it decreases everything right like it decreases all the effect of all your efforts and most people when they start they're so focused on marketing and promotion that often the quality of the product or service gets left behind and they're all in the entrepreneurs are always wondering like well what's wrong why don't the people love it why don't they come back it's so great well know the truth is it's not that great because it the greatness isn't determined by you it's determined by how people are truly enjoying your product or service so let's talk about what you can do some of the very common things that companies do to improve more value from the core offering is the number one thing that you can do what does that mean it means that you can add a ton of bells and whistles you can do everything you want but really at the end of the day the customer is there for the core value whatever the main thing your business provides it has to do that amazingly sure it can do other things great but it has to do the main thing amazingly for I'll give you an example I had an online course that I've been teaching for over five years and it's it stayed approximately the same I don't want to give the name of the course because I don't want to seem like I'm promoting it but the takeaways of that course they stayed approximately the same and which I always thought were pretty good and that course never really like got amazing reviews it was like always 4.1 4.2 and then I started focusing on how do i improve the core offering.

I started making better video quality better audio quality I got better recording equipment I improved myself as a presenter I started doing better editing I started putting more examples into the course and what happened was that everything that students complained about I addressed and it helped them learn the thing that I was teaching and naturally that course went from like 4.1 to like 4.5 star rated and that by itself increased revenue alone because people started buying because they saw oh wow it's a far better course so new customers of course started buying and my current students they're sharing it more they're more active in it they're completing more of the course so I focused on the delivery in the core value and made the course deliver that better and that made a tremendous difference and people might ask well how should I promote the course well actually I didn't do anything else other than made it better and that was a huge part of the promotion it's not it's not the entire thing but it's a huge part of it now other things you can do is customer support and interaction if you are proactive in helping your customers the ones that are confused that ones that which are potentially people who might turn into people who hate your service or product because they just not sure how to use it that's a common thing that happens if you support them if you help them you'll turn them into people who hate your product or unhappy with it and the people who love it because now they understand how to use it I also of course ease of ease-of-use usability design if that applies to your product or service that also is very impactful to improving your Net Promoter Score and of course more value from the price if you do provide like more bells and whistles more more things for the same price of course people will feel better about it and they'll be happier it's just natural and of course again shift your focus on from sell sell sell sell sell to new customers to take ten or twenty percent of your efforts and put that effort into improving the quality of the offering that you have long term just continue to improve and you will see that it's as strong more stronger than trying to get new sales.

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