The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

I have a question about feedback echoes

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

Gaiervy

New Contributor
Dec 19, 2016
19
7
14
22
In unscripted MJ said to listen to feedback based off multiple feecback echoes to which I agree but what I don't understand is:

1. When he means "Multiple"..just how much is "Multiple" In the book he gave an example of 20 but wouldn't that be too little feedback to act on? Wouldn't a base of like EX: 300 or 3000 be a better indicator of actionable feeback to act on? This leads to my next question

2. He said "When several people request something you lack, you can bet the market-mind thinks similarly" but how would this be as accurately determined? EX: If you have a customer base of 300,000 and you have feedback echoes of 400 to redesign your website. How would you determine if the other 299,600 customers would or wouldn't want a redesigned site by otherwise assuming "The market thinks clearly"?


Maybe I'm thinking about this too hard
 

Don't like ads? Remove them while supporting the forum. Subscribe.

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
6,891
31,645
5,083
Scottsdale, AZ
In unscripted MJ said to listen to feedback based off multiple feecback echoes to which I agree but what I don't understand is:

1. When he means "Multiple"..just how much is "Multiple" In the book he gave an example of 20 but wouldn't that be too little feedback to act on? Wouldn't a base of like EX: 300 or 3000 be a better indicator of actionable feeback to act on? This leads to my next question

2. He said "When several people request something you lack, you can bet the market-mind thinks similarly" but how would this be as accurately determined? EX: If you have a customer base of 300,000 and you have feedback echoes of 400 to redesign your website. How would you determine if the other 299,600 customers would or wouldn't want a redesigned site by otherwise assuming "The market thinks clearly"?

Maybe I'm thinking about this too hard
Sh*t you need 300 people for feedback? If I get 2-3 complaints I'm changing something. 20 would be way too much. 1 complaint is ok, 2 is starting a pattern, 3 is definitely a pattern, 4 is too much, 5 is WTF my product sucks.

Most people won't complain, so if you get 2, it probably represents 200 people. If you ever get 300 complaints you're f*cked.
 

DennisDuty

Mini Media Mogul
Read Millionaire Fastlane
Speedway Pass
Jun 16, 2012
1,476
3,205
886
31
Bali, Indonesia
The scale will make more sense to you when you're in the midst of your journey.

If you have a customer base of 300,000 and you have feedback echoes of 400 to redesign your website.
My first profitable website was getting roughly ~100k unique visits a month. I designed it myself, knowing NOTHING about design at the time... and do you know how many people I had asking me to redesign?

ZERO.

If over the course of 3 months I had 400 people ask me to change it... MY GOD.

1 complaint is ok, 2 is starting a pattern, 3 is definitely a pattern, 4 is too much, 5 is WTF my product suck
All it takes is a handful.

When first book got traction, it came with a handful of refund requests. I was selling maybe 250 a month. Of that, I had 10 refund requests a month.

WAY WAY WAY WAY too high for my tastes. 4% of my customers not only hated my product, but they also wanted their measly $12 back.

This wasn't happenstance, it was a PATTERN.
The cause needed to be uncovered and addressed IMMEDIATELY.

In my case, rather than adjust the product, I had to adjust my marketing.

I had said I would show them how to make the cost of hosting a gaming server less of a burden. I fulfilled this promise by showing creative monetization outlets.

The refund requests came from people who didn't care about monetizing their customers, they cared more about improving technical efficiency to reduce costs.

When I adjusted the sales page to alter the language of the promise, the refund requests disappeared.
 

SRathwell

Contributor
I've Read UNSCRIPTED
Jun 26, 2017
14
36
22
34
Ontario Canada
Here are my thoughts on this.

Any feedback is good feedback, but patterns are KEY! (even if it is negative). Therefore even if you have just 2 or 3 that is enough to act on because as the others above and MJ have said, where there is one there is many. That being said you also have to consider where the feedback is coming from. If they are not within your market and never will be than the feedback has much less value than someone who is. (The trick is figuring that out)

In our case we are in the validation phase, we have loaded up the gumball machine and are waiting to see what comes out. Our product is "premium product" with a price that reflects that. ($800 per unit) Because our hometown area does not have a lot of people with disposable income we received a lot of feedback that said we would never sell because the price was too high (they could not see the value). The turning point was when we put the product in front of those who could see the VALUE, and had the income to ACT. Even though early on we had a lot less of this latter feedback we valued it more then the early.

After launching our pilot run and selling out within a month, our assumptions about the feedback were confirmed.

GUMBALLS BABY!
 

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
29,659
104,089
3,751
Fountain Hills, AZ
We don't know the exact multiple, but if several people took the time to mention something, you can bet there are many more quietly hidden ... dozens? Hundreds? Thousands?

Whatever the #, it's probably actionable intelligence.
 

Amro

Contributor
Oct 5, 2018
94
82
68
Schoorl
Hi,

I would use SES theme splittest if you were using wordpress. Follow the data if you ask me. Don't make assumptions. Do you think Microsoft doesn't have complaints?

If you want to check out the plugin to do this:
Theme splittest
(P.s. no self promotion here. Just help)

Oh and don't follow the money in your analytics straightforward. Stickrate and time on site are maybe even more important since lifetime value is more important then one shot sales.

Just something to think about @Gaiervy

Regards,
Amro
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Just Enrolled to "Start a Freelance Business: Take back your freedom Now" Thanks! @Lex...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Welcome to 2020, I wanted to add in a quick note about gratitude for the new year...


Don't like ads? Remove them while supporting the forum. Subscribe to become an INSIDER.

The 2020 Fastlane Summit

This event SOLD OUT in October. For authorized resale tickets, please check ticket resales or contact the forum directly.

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom