DTC POD - Megan O'Brien, Arch Insights: Market Validation, Positioning & New Products

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"The Power of Consumer Insights in the Pre-Launch Stage": "Making sure that there is a real need for that product before you invest all of that capital to invest in inventory in particular and or coding of your platform, it's really helpful to understand if there is a real need and a real pain point out there."

"Understanding Your Customer Beyond the Transaction": "Giving people your own current customers the opportunity to voice their opinions and voice their pain points is super important to not get caught up just in your growing business and really take the time to invest in keeping a pulse check on your customers."

"Consumer-Centric: 'I was really rooted in the consumer insights and kind of following the lead of the consumer.'”

"Testing Ideas With Friends and Family: "It's a better use of capital to not only see is there a pain point that exists but also at the same time kind of ask directionally this new concept we're coming up with, is this solving the pain point or would you be interested in purchasing this product or service to help solve the pain point and kind of do multiple things at one time?"

"Listening to the Consumer: "When it comes to confusion around messaging of the product, that's where you should really listen to the consumer. Because if the consumer is confused about what the product is or what the value prop is of the company, then no matter how amazing your product or service is, if no one understands it before they can purchase it, it's really hard to sell that product."

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01:01 Megan started Arch to provide market research for startups and SMBs, having worked with 22 DTC brands. She has an analytical background and gained knowledge from Harry's Inc. and HBS.

03:20 Consumer Insights help companies understand customer needs before investing in product development.

06:11 Hierarchy of wants and needs varies from brand to brand, must understand target consumer base to get messages that resonate.

08:59 Quarterly customer surveys to measure NPS, segmentation to understand customers, and listening to customer pain points to create products.

13:56 Consumers becoming smarter, wanting to know why brands are ecofriendly, avoiding greenwashing, focus groups for feedback.

20:02 Learned value of consumer insights, creativity & balance of guidance and freedom in creative work.

22:04 Developing products from female consumer insights and understanding customer journey and preferences.

25:29 Consumer Insights used in retail, marketing, product development and finance to help guide decisions and inform success.

28:01 Assess pain points, gather consumer insights, develop product, test messaging and imagery, launch, assess website, create new offerings, segment customer base.

33:09 Listen to consumer feedback to determine product messaging and target market.

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Topic 1: Friends and family -Asking people around you what they think of the idea -Creating a roadmap -Surveying to see if there is a pain point
Topic 2: Consumer insights -Getting direction on new concepts -Multiple questions answered in one place -Market size -Qualitative research
Topic 3: Branding and imagery -Testing different images -Words and people in images
Topic 4: Product messaging -Communicating value -Copywriting -Product launch -Feedback on website
Topic 5: New product development -Keeping customers engaged -Segmentation -New lines of products

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