Do you know how analysts become highly valued in the corporate world for market expertise?
They spend 8 to 10 hours a day interviewing customers. After hundreds of conversations, they start to see patterns. They discover what’s good and bad about a product or service.
Analysts will then reach out to other companies in the industry and call their customers.
Eventually they have enough data and insight that they can write a comprehensive report about the industry.
How can you apply this approach to improving what you do?
Ask your clients lots of questions.
For example, I’m with Redfin and we are proud of our technology platform. However, when I meet a new client, I won’t assume they love our website and app. I’ll ask them open ended questions about their experience.
I want to find out how intuitive it is and what they use. Maybe they are missing some of the most valuable features. I'll ask how it can be improved.
When several clients start saying the same thing, I will send the suggestions to our development team.
If you are genuinely interested in improving your service or product, become inquisitive and focus on your client’s experience. Discover what you can improve, change, or create to meet their needs.