How much behavioural change needed for customer adoption?

When an investor asks you: "How much behavioural change is required for customers to adopt your proposition? And if a change is required, do you make it easy for them?" 😬 👇

Founder, this is a question you need an answer to, especially in a crowded market with sticky products.

What the investors are really asking:

Change is hard for many people (and businesses). We avoid it wherever possible. So even if you product/service delivers significant value for your target customers, if it requires changing habits, daily routines and behaviours, gaining adoption and traction could be tough. Investors will want to know how you will overcome these hurdles and gain customer approval and repeat purchases/loyalty.

Where you should look for the answer:

Again, it’s all about the customer, who you need to understand deeply and personally. Secondary research is very important, but nothing beats getting out into the market and talking to potential customers. You need to understand their needs, pains and desired gains in completing the job for which you are offering a valuable solution. You need to have mapped the customer journey, today with alternative solutions to their needs and in future using your product/service as the solution.

Understanding these journeys is where you can start to see how a customer’s behaviour may need to change to embrace your product. Assess how difficult this change will be and talk to customers about how you can make it easier for them. Armed with this information, you should be in a good position to address the investors questions.

How to make your answer compelling:

If you have some initial traction and/or market testing, it will be easier to show that customers are willing to engage with the changes in behaviour your solution may require. So do test as soon as possible rather than trying to make your product/service perfect before you put it in the hands of customers.

If you are still pre-market, use your customer journeys to show how you can make the change easier for potential buyers.

In both cases, bring the voice of the customer into discussions through the results of primary research and direct quotes can be powerful. And again, don’t wait for investors to raise concerns, deal with them proactively.

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