Goldilocks and the Three Bears starts off innocently enough: a young girl, an empty house and choices to make about what to eat. She sits down to sample each of the three hot bowls of soup left out on the table before finding the one that’s “just right”. Goldilocks has found her “bliss point” for bear soup and then repeats a similar evaluation on other products in the house (chairs and beds specifically). Successful businesses use data to determine this point of customer satisfaction across the range of product possibilities to uncover the bliss point.
How to Know What Your Customers Want In Your Products
If we asked Goldilocks or your customers, for that matter “how do you like your soup?” chances are we’d be told “hot”. But as we all know there are different degrees of hot that people like. Some of us like piping hot soup while others prefer room temperature (anything but cold) and many points in between. So how do we determine what is “just right” or “the bliss point”?
Let me illustrate with an example: coffee.
I recently appeared on documentary called The Secrets of Sugar, in which I asked the interviewer if she liked coffee with milk and sugar. She admitted that she liked it with milk.
“So if you add more and more milk you like it more and more, up to a certain point where you like it the most. Add a little bit more milk and you say ‘oh, it’s too milky, gosh!’ and add a lot more milk and that’s horrid”.
This is the bliss point. It’s what the food industry thrives on finding, because they know that tapping into customer bliss points means they will buy more products. The secret Goldilocks and other industries are discovering is that bliss points also apply to furniture, electronics, credit card offers and so on.
Market Research Bliss: Using Data to Create Messaging and Products People Crave
Moskowitz uses models to test people’s reactions to different versions of a product. Once he’s found the Bliss Point, the product hits the shelves … From soda pop to spaghetti sauce his magic makes money … In the food industry they call him ‘Dr. Crave’.The Secrets of Sugar
Most people do not know what they want. In the past, companies often ran expensive focus groups, distributed surveys and did one-on-one interviews to talk about products with the companies. The trouble here is that people’s perceptions of what they think they should want and what they actually want are often not in sync. Social pressures, image and preconceptions all tarnish responses. The only way to truly know what people want is to expose them to variations of your product and message, and then observe how they respond.
In The Secrets of Sugar, I said “everybody wants to sell just a bit more. How do you get that immediate increase in acceptance?” This is the heart of the bliss point.
We find the bliss point by modeling variations of our messages and products, and then seeing how people actually respond to them. These sessions generate heaps of data that when analyzed with the right algorithms reveal clusters of preferences we can build a product launch around. Using software such as Addressable Minds, a set of tools powered by algorithms I created to fuel development of numerous successful products over the years, we can zero in on exactly what your customers want based consumer behaviors with the product models.
The key to making money from all this is developing products and messages based on what your customers actually want. They may not know it. You may suspect it, but with our modelling process to find the bliss point, you will hit on it with certainty that will make your products more successful. Find out more about how we can help you make sense of marketing data – get in touch today.