Build for your best customers

Edited excerpt from My 8 Rules Of Great Products by Mitchell Harper:

Build for your best customers. Simply put, this means you give a higher weighting to product feedback from your best customers — the ones who spend the most money with you over time.

This leads you to build additional products (and improve existing ones) for your best customers, who are much more likely to pay more for those new and improved products, thus helping grow your revenue faster with fewer customers and less customer support.

Not all customer feedback should be treated equally. If one customer pays you $2,000 a month and another pays you $20 a month, the feedback from the $2,000 a month customer is actually more valuable if you use it in your marketing and product strategy to attract more customers like them and/or if it gets them to spend more money with you via upgrades or additional products.

It doesn’t take 10x the effort to get a $2,000/month customer as it does to get a $20/month customer. It probably takes 2–3x the effort but gives you 10x the revenue.

Notes:
(1) Cf. Best practices in getting user feedback on your product.
(2) Cf. The contrarian view: With freemium, it’s easier to start with the paid product.

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