Building for your customers' needs
“We're not competitor obsessed, we're customer obsessed. We start with what the customer needs and we work backwards.” - Jeff Bezos
In this edition:
A hospital creatively meets the needs of new mothers
The latest health tech “startup” contributes to Kenya’s health systems
How to nurture mental resilience as a driven business owner.
STORY
Riverdale’s questions answered by customers
When Dr. Diana and her co-founders set out to build Riverdale Medical Centre nothing prepared them for Covid-19 when revenue from major services would dry up - except for one creative idea.
They noticed new mothers were avoiding hospitals during the pandemic so their babies were missing their regular vaccine shots. With this information on an existing customer base, they started vaccine home visits and this kept their business afloat during those hard times.
Business models are tested during times of crisis and one way to stay afloat is to create a culture of speaking with customers. It’s easier to see where to pivot when asking questions is customary in your business.
As a medical practice, the dream is to maximise time with each patient but in a market where they find other doctors who better suit their needs, how do you retain clients?
Patient lifetime value measures the total revenue a patient will bring to your medical practice throughout their life. “Oftentimes, the delivery of a baby is the first encounter that many people have with a healthcare system. That can trigger a 20-plus year relationship, even a 50-year relationship, with an institution,” says Patty Riskind, head of global healthcare for Qualtrics.
The cost of acquiring a patient tends to exceed the cost of retaining them as a repeat client. It may take longer but retention strategies like offering unique services can generate better long-term return on investment.
In Riverdale’s case, the doctors’ main specialties are dentistry, anaesthesiology and orthopaedics. As a paediatric dentist, Dr. Diana was frequently interacting with mothers and gained enough insights on their unique needs to meet them during a crisis.
It’s very clear that talking to customers reveals pain points and creates opportunities to strengthen client loyalty.
SPOTLIGHT
More money for healthcare innovation
Safaricom’s USD 813M investment in health data potential threat to AfyaRekod & Ilara Health [Read]
Health tech startups use AI to advance telemedicine in Kenya [Read]
Rwandan health tech Kasha secures funding to expand distribution across Africa [Read]
RUNDOWN
Learning from customers
What is market research?
Market research is where your customers’ behaviours meet a business opportunity that could be a new or existing service you offer.
Say you’re a trainer and you notice your busy clients are underperforming because they’re not eating enough, you can partner with a chef who prepares weekly meals using your custom meal plans.
Before you go all-in on this idea, you want to ensure a number of your clients need this service to justify the time and costs spent on it.
How do you do it?
Ideally, you should stay connected to all your customers looking for opportunities to improve their experience. However, due to time and team constraints, you can focus on the customer most likely to pay and work your way from there.
Here’s a five-step process:
Choose a customer segment: Busy professionals who only have time to train in between work and want consistency because training increases their mental and physical resilience.
Describe the product/service: Meal plan as a service for the busy professional. Weekly macros and portions are all measured out by a chef so all you need to do is fuel and train on repeat.
Determine your questions: Ask questions on their routine outside the gym, budget, meal preferences and training goals. Categorise your questions within a survey plan only asking customers a few questions at a time so they’re not overwhelmed.
Choose a platform: Use what you’ve got; Instagram polls on stories, WhatsApp polls in direct messages, email lists, in-person conversations after sessions and ask your clients to share the survey within their networks.
Analyse and test: As the results roll in, check them against your service description to gauge interest, better opportunities, new customer needs and any other metrics relevant to your business.
Why does it matter?
Asking your customers questions offers an opportunity to demonstrate a deeper understanding of their preferences, challenges, and goals. It amplifies their existing satisfaction levels and creates brand loyalty.
In a competitive industry where many start and stop their health journeys, this level of care helps you stand out as customers keep purchasing from you and recommend you to their social circles.
NEWS
Prevention over cure
Ovarian cancer is on the rise & Kenya won’t be spared [Read]
Burned out medics prescribed creative art to manage stress [Read]
Increasingly popular weight loss pills causing more harm than good [Read]
HEALTH ED
3 ways to build mental resilience
Develop a growth mindset: Learn to see failure as feedback that helps you stay focused on long-term goals, instead of letting short-term setbacks define your future.
Clarify your why: Having a clear mission and values gives you a deeper reason to persevere, even during tough times when the future isn’t so clear.
Pick your battles: Many factors in business are outside your control (market changes, economic downturns). Focus your energy on what you can influence; strategies, products, and daily habits.
Business owners often try to solve every problem with money but the solution to growth could be right there with your customer. What steps can you take today to meet the existing needs of your customers?
Stay active, keep innovating.