Your customers’ big irritation is a big opportunity

I found this Don Sull  “top 10” field guide to clues for hidden breakthrough opportunities article packed full of instructive observations. Please note particularly:

2. This customer experience doesn’t have to be time-consuming, arduous, expensive, or annoying (but it is). Consumer irritation is a reliable indicator of a potential opportunity, because people will typically pay to make it go away. Reed Hastings, for example, founded Netflix Inc. after receiving a US$40 late fee for a rented videocassette of Apollo 13 that he had misplaced. Charles Schwab created the largest low-cost brokerage house because he was fed up with paying the commissions of conventional stockbrokers. Scott Cook got the idea for Quicken after watching his wife grow frustrated tracking their finances by hand.”

What is your Customers’ Big Irritation?

About Arie Goldshlager

Customer Insight, Customer Strategy, and Innovation Consultant
This entry was posted in Customer Experience, Customer Retention, Innovation. Bookmark the permalink.

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