Startups For the Rest of Us
Episode 767 | Finding Your ICP, Prioritizing Feature Requests, Pricing, and More Product-Focused Listener Questions
Mar 25, 2025
Brendan Fortune, a product expert with extensive experience in product management, joins to share invaluable insights. They tackle whether your ideal customer is always your highest paying one, exploring the complexities of defining an ideal customer profile. The duo discusses prioritizing feature requests and highlights the balance of art and science in product management. They also delve into effective pricing strategies while emphasizing the importance of competing on value, not just price. This session is packed with strategies for product managers to optimize their focus and decision-making.
42:43
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Quick takeaways
- Identifying your ideal customer profile (ICP) is vital for growth, focusing on long-term engagement rather than just high-paying customers.
- Prioritizing feature requests effectively requires balancing customer pain points and ease of implementation, ensuring critical business goals remain the focus.
Deep dives
Identifying the Ideal Customer Profile
The concept of an ideal customer profile (ICP) is crucial for SaaS businesses and does not necessarily correlate with the highest-paying customers. Retention and expansion are the two pillars that help unlock compound growth, making it essential to identify customers who not only pay well but also utilize the product consistently over time. For instance, a company can benefit from analyzing long-term customers who have expanded their usage, rather than just focusing on the ones that pay the most. This depth in understanding enables businesses to align their offerings with customers that provide both revenue and valuable feedback.
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