I’ve been religiously following Bravo TV’s Millionaire Matchmaker show. It’s absolutely entertaining. Patti Stanger, Matchmaker Extraordinaire, finds long-term partners for the men and women millionaires in her exclusive dating club, and her technique is appealing.
As someone who boasts a 99% success rate, perhaps we can learn something from Patti’s technique to create and match products to customers. Here are some of my observations of how she helps her customers find true love:
1. Find out exactly what your customers want in the ideal or “perfect 10” product.
2. Be honest and upfront about customer expectations and demands. If the demand is unrealistic for any particular reason, it should be shared. This provides the customer with an understanding of why the product may not be a perfect 10 while explaining how the product will still be more than sufficient to meet their needs.
3. Be up-to-date with industry and customer trends. Being able to explain the current marketplace and openly compare product options to customers will build their trust in you and your brand.
4. Discuss what alternatives your customers are willing to accept or how flexible they are willing to be with product features.
5. Set up a date. Conduct market research by allowing customers to review product prototypes and provide feedback on the products they prefer.
6. Ask them to select only one of the prototypes for a lengthier trial period. See if a love for the product develops.
7. Understand why the customers did or did not fall in love with your product. If not, see if you can better match their requirements in a product in the next round.
As Product Managers we can be seen as our company’s product matchmakers. We have the important task to forge long-term relationships between our customers and our products.