Adjusting Your Business Development Strategies
Are you confident enough in your company to change your business development strategies, even when things are going great? A few months ago, I blogged about a company called Hunch. This decision site was off to a remarkable start in March of 2010, but now, CEO, Caterina Fake, is making a change that will cut traffic to the site in half, but improve the existing customer experience. Hunch will no longer give users access to the site without logging in, although they will have the option to log in with their Facebook or Twitter accounts.
To me, this is a bold move that should be considered by many companies that are looking for ways to improve their business growth strategies. It’s a brave decision to make a change that will impact your traffic, but she seems optimistic that it will improve the customer satisfaction levels. She is clearly putting her customers first by making this adjustment, and I give her kudos for stepping out of the existing comfort zone. In an article I read recently, Fake gives some more insight into the confidence of her decision. “I think traffic will plummet,” Fake says, “But users who are using the product will have a significant lift in the quality of results.” Hunch has raised a total of $19.2M in venture funding.