This article was based on the interview with Ben Keller and Remen Okoruwa from Propexo for The Innovation Economy podcast. Listen to the original episode here:
Customers can become entrepreneurial stakeholders by actively involving them in the product design process and engaging them in the go-to-market strategy. This goes beyond simply collecting feedback from customers and instead empowers them to have a direct impact on the direction and success of the business.
One way to involve customers as entrepreneurial stakeholders is through design partnership programs. Startups often offer these programs to their customers, inviting them to join the product team and contribute their unique perspective and expertise. By valuing their opinions and involving them in the decision-making process, startups are able to tap into the customers’ deep understanding of the problems the business is trying to solve. This structured and planned approach allows for consistent feedback and collaboration, rather than ad hoc and reactive interactions.
A great example of this approach is seen in HubSpot’s channel partnership program. HubSpot not only sells and resells their software through partners, but they also bring some partners into the product decision-making process. These partners are so closely involved that they have direct contact with HubSpot employees and even create content about new features the company releases. These partners have built their businesses off of the HubSpot ecosystem and are fully invested in its success.
By involving customers as entrepreneurial stakeholders, companies like HubSpot benefit from their deep understanding of the market and their ability to provide valuable insights and feedback. Customers become more than just consumers; they become active contributors to the growth and success of the business. This level of involvement not only strengthens the relationship between the company and the customer but also creates a sense of ownership and loyalty.
Customers can become entrepreneurial stakeholders by actively involving them in the product design process and engaging them in the go-to-market strategy. By valuing their opinions and involving them in decision-making, companies can tap into their unique perspectives and expertise. This collaborative approach benefits both the company and the customer, fostering a sense of ownership and loyalty while driving innovation and success.
