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Format Insights September
The best tl;dr imaginable.
Dates: 31 August to 30 September
Datasource: Intercom, Slack, Gong, Email, Otter.ai
Conversations Analyzed: 36
Insights Generated: 146
The following Report is generated from conversations with customers, design partners and prospects of Format across a variety of channels throughout the month of September. Currently all Reports are manually reviewed before publishing. Happy reading!
Problems and Pain Points
CEO Challenges in Understanding Their Business
Stephen O’Brien from Tines (raised $146M, Series B), a Format design partner, shared interesting perspectives on the challenges that CEOs and other top leaders face in really understanding what is going on inside their business:
[CEOs] have an inverse approval problem: they're often getting stage managed by their direct reports who are filtering, blocking and processing data. So you're gonna have an interesting kind of inversion there where part of the friction the CEO faces will be all these fucking spoofers who are like ‘I don't want you to see the data’
One other perspective on the CEO persona is, it gets more interesting the less defined the use case [for a product like this]. It is both the Sales angle and the Product angle. And actually, the truth is that those things are inseparable. We just divide companies in Sales and Product because we have to divide it somewhere. But they're completely recursive.
Broader Challenges in Gathering and Validating Customer Feedback
Joe Caprara from Sedna (raised $86M, Series C) discusses the lack of any system to accurately validate and organize customer feedback:
I don't have a mechanism by which to say accurately well, we've looked at it, and either this is a problem or this isn't a problem, or it's gotten better, or it's gotten worse.
Karen Gardner from Cloudsmith (raised $22M, Series A) highlights the huge inefficiency in gathering feedback:
When you are taking the time to rethink and revisit [product] positioning, or you're working on a new [marketing] campaign, and you want to check and see.. do we have all the freshest sort of ideas coming to the table to go back out and do the fact-finding through all these different channels… it takes time.
Greg Pollock mentions the inconsistency in their feedback process:
The problem is that it gets done extremely inconsistently and infrequently.
Joe from Sedna also discusses the difficulty in ensuring that user feedback reaches the people doing the work, like engineers:
There's often a pretty big barrier between user feedback and what actually gets to [the people doing the work].
Karen Gardner explains that marketers often receive customer feedback secondhand:
So beyond getting it [from colleagues], because I'd say getting the feedback is sometimes the first challenge…. So you've got Customer Success teams, you've got Sales teams. They're talking to the customers. My goal is always to make sure that I've got a really good relationship with Sales and with the Customer Success teams to ensure that I'm actually getting that feedback.
Joe Caprara emphasizes the need for clear and concise feedback:
If your product enables getting that feedback and providing it in like a clear, concise way, that, to me seems pretty interesting.
Abbey Minondo from Equals (raised $26M, Series A), a Format customer, highlights the importance of including unaltered feedback in Reports:
Sometimes it is helpful for them to see the actual, like, verbatim feedback, even when it's negative, because it'll be something that's like very easy to fix.
Karen Gardner notes that their current method for understanding what customers are telling them is very limited. Karen also prompts to be able to automatically pull insights into reports or updates using AI:
It wasn't something that was living and breathing. So I think this idea of having something that allows you to engage with and be prompted to engage with feedback and information as different data points with AI today… I'm sure there's so many ways that that could be automatically fed into updates or documents.
Joe Caprara explains how having better data could help him prioritize fixes over new features based on user feedback:
If I could have done that with better data to say: Hey, okay, 50 people asked for this feature, but I got 250 complaints about the fact that the loading time takes three seconds. Let me go fix that, which I can do in two weeks. Versus build a feature that's going to take me three months.
Joe Caprara describes how unqualified feedback often gets more attention due to its loudness:
It just becomes a case where the loudest, most aggressive or largest customers get an unfair share of the reaction to this feedback… and so I spend a ton of time, frankly combating other areas of the business saying ‘okay, I get that so-and-so has been screaming about this, and they've been screaming about it for a while - but have we really vetted the truth behind these claims.
Current Methods and Workarounds
Tools and Methods Used
Greg Pollock explained their use of Product Board integrated with Gong:
We use its integration to Product Board, which is, in theory, our intake for customer feedback.
Karen Gardner described switching from Intercom to Qualified for better insights:
We had Intercom and switched that out for Qualified because Qualified gave us a whole lot of customer insights as well. It linked into the CRM systems and allowed us to see what a customer was looking at and doing on our website, in our documentation, in our product.
Josh Kim from ChannelTalk (raised $61M, Series C) mentioned the use of VoC studio by his Korean team:
And we have, you know, CX team actually working on trying to sort this all out right now. My Korean team is using VoC Studio right now but my Japan team is not using anything… they're just getting insights from direct reports.
Greg Pollock discussed the inconsistency in capturing feedback:
And I like that a person can tag some part of a Gong call and then send that as an insight to ProductBoard… that is useful feedback. The problem is that it gets done extremely inconsistently and infrequently.
Manual Workarounds
Rachael Beckett from Carto (raised $94M, Series C) shared her method of manually listening to a bunch of Sales call to analyze them:
Before I just redid our sales deck, I watched 15 Stage-1 Opportunity calls from AEs… And I basically built a picture of how I thought the current sales deck was being used, what I thought was going well, what wasn't, and therefore what I thought needed to change.
Greg Pollock described the time-intensive process of using Gong:
I have, I guess, like, strategic topics that I'm interested in, and I want to know what's being said about those, and really the only way for me to do it is to go search across the corpus of recordings for those and then go listen to those calls and form an opinion based on that which is, which is quite time intensive.
Karen Gardner mentioned the informal sharing of feedback via Slack:
I would say that it's been more ad-hoc ping on Slack - not a concrete system that tracked.
Firaas Rashid from Hook.co (raised $23M, Series A) explains how important conversations and feedback often occur on Slack rather than formal ticketing systems:
I think one big problem we have is actually this stuff doesn't exist anywhere like it exists in a ticket.
Erhard Riedl from Fieldwire (raised $41M, Series C) shares an experience from a previous company where customer feedback was taken verbatim, leading to constant changes in priorities and half-baked features:
Where I've seen it work horribly was talking to potential customers and taking their feedback - also verbatim - and then making a priority without considering all other feedback. So every week was a new feature, or the old one was not even implemented.
Format Feedback
Positive Feedback
Abbey Minondo from Equals shared her positive experience with the new report format:
When I saw the [previous product] of Q&A… I was a little bit like, I don't know if I'll actually use it…. I'd have to train myself to use that. This Report, I will review.
I love that you guys have quotes and that you have links to the actual source.
Ben McRedmond, also from Equals, shared feedback he’d received from his team when they read the Format Report and how they’re finding various ways to use the contents:
The Report this week was really good, just read it. Random idea: what if we published online the Positive Feedback section every week?
Jen Leon from Imprint (raised $275M+, Series C), a Format customer, shared how desperate she was to understand what is going on inside the business and really wants a Report:
I just wanted to understand what the fuck is going on … especially in our Sales and CS calls … and it’s all a black box. So I really need this Report.
Positioning Feedback
Stephen O’Brien from Tines shared the power of positioning Format to help leaders understand what is going on inside their business:
I think what's appealing to me is less that this will give me some sort of intelligent explanation of something, or a truly creative association…but rather that it's just going to do the drudge work [of finding it all]... I think there just could be some angle for a refreshing take here where you're not claiming it's some sort of a magic AI. It's just doing tons of grunt work and finding these things. It's just fast and efficient.
Stephen shared some further ideas on how best to position based on his use of the product:
One top level vantage point: maybe the unique offering of Format is that it's not siloed to one department and maybe they're these more meta use cases, or not even a use case… it's just company level stuff. I think that's a really, potentially differentiating angle.
Built with ❤️ by Format on Wednesday, 2nd October 2024.