Is creating a product that does not solve an urgent and expensive customer problem.
If I had an hour to solve a problem, I'd spend 55 minutes thinking about the problem and 5 minutes thinking about solutions.
Einstein is quoted as having said, “If I had an hour to solve a problem I'd spend 55 minutes thinking about the problem and 5 minutes thinking about solutions.”
Businesses must follow urgent, expensive problems.
In the last Underdog Con, I mentioned one thing all E-Commerce businesses need: a hungry crowd. In this newsletter, I'm going to drill down a little more.
It's not your marketing. It's the product.
Many times, a product is created to address a common problem, but not an urgent and expensive problem.
It's important to understand the difference between a minor annoyance and a real pain point. Solving a minor annoyance might improve people's moods but not their lives.
For example, a HR manager might be annoyed about selecting the right upskill courses for employees. But their real pain point is finding and retaining employees with the right skillsets.
Here's another example. Once, we did marketing for a business selling vertical gardening kits.
Homeowners can grow their own vegetables at home. No more buying pesticide-ridden vegetables! It was a nice idea.
Also, it takes 35 days to grow your first crops.
Wait... what? Did you say 35 days?
Nevermind that.
Here's the real problem. The business was targeting homeowners – stay-at-home moms and hobbyists. But is it urgent for these people to buy a vertical gardening kit?
Sure, it might solve a minor annoyance. But, there's no urgent or painful reason for a typical homeowner to rush out and buy a vertical gardening kit.
That's why the business experienced better success selling the kits to corporates who were under pressure to initiate ESG goals.
Is your product solving an urgent & expensive problem?
Together with Taylor's University
Creating a high-converting landing page is not about putting in pretty photos or good-looking people. (I know your man looks good!)
It's about understanding your customer's urgent & expensive problems (see what I did there?) and making them an irresistible offer. Whether it's lead generation or acquiring customers, conversion optimization is a valuable skillset for any business.
This session is primarily for startups. Click here to register
