This is one of the typical and tough questions asked in the product manager interview. If you go through below details, you will be confident enough to answer this question in the interview.
We often talk about the customer or the end users for our product. We focus on taking the feedback about our product from our users, and we try to improve user engagement based on that. We enhance our product based upon the feedback we receive from our users. But have we thought of the non-users during the product life cycle? Are they not important for us? Are they not a lucrative customer segment which has a lot of potential. As a product manager I find, non-user segment is very important segment to analyze and understand the customer behavior.
✔ High future market potential: non-user segment has potential to become a piece under Total Addressable Market. They don't generate revenue for us now. What is the reason behind that? Every product is designed to solve some customer/user problem. Maybe we are not able to identify the problems for these non-users. It is worth a try to understand the problem statement of this segment and position our product.
✔ Increase revenue opportunity - This un-used segment can create another stream of revenue for the organization. If the product value proposition is accepted by this group of people, the source of income will increase tremendously.
✔ Brand Value - Word of mouth or other ways of marketing channel can help to increase the brand awareness and potentially attract more customers to your business.
✔ Competitive Advantage - By focusing on this segment before your competitors you will also gain the first over advantage. You will get lot of insight from the current non-user segment which will put you ahead of your competitors.
✔ Different perspective: Non-users can also bring a completely different perspective about your product compared to your existing user base. Have you ever tried to meet a non-user in your customer review meeting? When you gather customer feedback from the current users- about your product, suddenly a perspective from a non-user can bring a totally different dimension. It also helps you to make an unbiased decision.
No comments:
Post a Comment