Opinions, Options, and Outcomes: Using Customer Feedback to Fuel Growth with John Li [The Opportunity Ep.152]

The customer is always right.


If this is true, then understanding consumer's opinions and
preferences is the secret sauce to success.


But how do you ask the right questions
to the right people in order to
gather this
feedback?That's
where John Li comes in. John and his co-founder Justin were
scratching their heads over this very question while trying to
get feedback for their own business.


Being savvy software developers, they created PickFu – a
market research and consumer feedback platform that allows
businesses to gather in-depth feedback from real people in
minutes.


In this episode, John joins us to discuss how conducting
meaningful consumer feedback can drastically improve your
business.


He explains that it is never too early to start
communicating with your audience. 


Gathering feedback can help you pre-validate your products
before they've even launched by testing logos, packaging, mottos,
etc. This can be the difference between a lukewarm introduction
to the market, and a rocket-fueled burst onto the
scene. 


In fact, John helped a business 10x their profits by doing
just this.


But collecting feedback isn't all you should be doing.
According to John,


"It's so important to connect with and listen to your
audience. Run surveys, bounce ideas, have conversations, etc. But
it's also important to do market research. There might be a whole
different set of people that you aren't targeting that could open
up an entirely new area of the market for you. So it's important
to get feedback from both sides."


Of course, there's an art to asking for feedback. John
explains which types of questions you should ask, the different
types of experiments you can conduct, and the ideal audience size
for collecting usable feedback.


You don't have to fly blind. This episode will light the
way and teach you how to use feedback to fuel your business
growth.
Topics Discussed in This Episode:


John's background and the origins of PickFu
(02:20)


The importance of market research and collecting consumer
feedback (06:03)


How often should you be doing market research?
(10:31)


The different types of consumer research experiments you
can run on PickFu (15:54)


How to encourage feedback and gather the best feedback
from consumers (18:05)


The most common myths about consumer feedback
(25:28)


The ideal audience size for meaningful consumer feedback
(27:34)


Managing negative feedback from consumers (30:23)


How consumer feedback can save a business from failure
(35:18)


John's goals for PickFu moving forward (37:44)

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Sit back, grab a coffee, and learn how to gather consumer
feedback that will elevate your business to new heights.