Feedback from customers is basically a tool to measure their loyalty and satisfaction. On the other hand it often paves the way for new research and market niches. Intention of providing more value to customers often gives founders ideas to build better products and services. Moreover feedback from customers could open new doors that you haven’t thought of yet.
Gangadeep Singh Josan illustrates us on importance of feedback from customers for business. He is the co-founder and CEO of NittioLearn, a training platform for retail businesses. He has huge expertise as product and R&D manager in various companies. In this video he shares how heeding to feedback from customers has paved him way for a successful untapped market.
He talks about how the feedback from customer led him to pivot the business. This has helped them in gaining more customer traction and the target group that they focused on after the pivot.
Value SaaS Series focus on businesses surviving in their path to first million. They bootstrap or raise tiny external investments. During this period they iterate rapidly to create a growth engine for scaling to $10Mn and beyond. By accessing & deploying founder-ownership friendly capital, they grow rapidly and thrive.
Organization that is able to make $1 of revenue through less than $1 of spend is a Value SaaS Business. Veeva, Zoho, MailChimp, Atlassian, BrowserStack, even SalesForce, are all Value SaaS startups – they made more than $1 Mn ARR with less than $1Mn in spend.