Reply To: Meeting Potential Customers

Home Forums 1A. Form a Peer Learning Group (Feb 6 to Feb 12) Meeting Potential Customers Reply To: Meeting Potential Customers

#3351
Kody Greene
Participant

Follow up from my Customer Interviews.

I ended up interviewing some people that knew, but were more friend of a friends. These people were in my target demographic. The questions I asked were as follows:

Would you be interested in the following products? (I provided pictures of the products)
-Farmhouse End Table
-Farmhouse bookcase
-Planter Box

Which one would you be most interested in, and why?
How much would you be willing to pay for that product?
Are there any other similar products that would better suit your needs?
Would you need these products delivered, and would it be a deal breaker if a delivery option was unavailable?
Would you be more inclined to buy products from business that use environmentally sustainable materials?
Anything else you would like to add?

The results I got were interesting.

There was an overwhelming interest in the bookcase with 80% of the potential customers stating they were interested in it. With the other two products getting only minimal interest. Where it gets interesting is how much people were willing to pay for it. I got a wide range from $150-$1000, with the average around the $450-$500 range The cost of materials is only about $60 so it would be easy to make a profit on this product, especially if I made them in batches.

Many of my customers stated delivery would be required or at least preferred, so I think I will offer delivery with an additional fee. I was also asked if other colours would be available on my products which I was already planning on including. What surprised me the most were peoples indifference to sustainability. I figured that would be a selling point, however my target demographic is an older audience and we’ve seen how much some of them care about the environment. They did state however, that they would be more likely to support local, Canadian businesses. A few even stated they would be willing to pay extra for this, so that will be a good selling point.

Learned a lot from this experience. What did everyone else learn from their interviews?

-K.G.

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