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In this episode of the Building Great Tech podcast, hosts Simon Hook and Anastasija Krysa delve into the phenomenon of shiny object syndrome that often plagues tech founders. With over 17 years of experience in the tech space, they explore why many businesses are drawn to the allure of new ideas and trends, despite the fact that a staggering 64% of tech leaders report seeing no return on investment from cutting-edge technologies like AI.
Simon and Anastasija discuss various trends, from gamification to the metaverse, and share real-life examples of when these innovations succeeded and when they fell flat. They also introduce a validation framework designed to help founders avoid costly mistakes and focus on what truly adds value to their customers and their business. Tune in for insights that could save you from the costly trap of chasing the latest tech fads without a clear purpose.
Simon and Anastasija discuss the allure of gamification, highlighting its effectiveness in contexts like fitness apps but cautioning against its misuse in serious applications like loan applications, where it may not resonate with stressed users.
The hosts reflect on the hype surrounding the Metaverse, noting how many companies invested heavily in it without clear user demand, ultimately leading to significant financial losses, particularly for Meta.
Simon and Anastasija emphasise the importance of focusing on existing features and making incremental improvements, sharing a success story where optimising error messages led to a 154% increase in user sign-ups, demonstrating that small changes can yield substantial results.
Follow us on Linkedin!
https://www.linkedin.com/in/anastasijakrysa/
https://www.linkedin.com/in/simonvhook/
Building Great Tech is the podcast that helps mission-driven tech businesses become more profitable and customer-focused. Whether you're just starting out or optimising what you’ve already built, each episode helps you drive conversion, retention, and real business growth.
We dive into customer-focused strategies, killer product experiences, ethical tech, team dynamics, and smart roadmaps. Expect expert interviews, startup case studies, and practical advice to help make your tech profitable, scalable, and deeply aligned with your mission.
In this episode of the Building Great Tech podcast, hosts Simon Hook and Anastasija Krysa delve into the intriguing phenomenon where only 20% of product features are actively used by customers, leaving a staggering 80% underutilised.
They explore the reasons behind this discrepancy and discuss effective strategies to enhance feature awareness among users. Through engaging conversations, Simon and Anastasija share personal experiences with various applications, highlighting the importance of contextual triggers, progressive disclosure, and clear communication in feature updates. Tune in to discover actionable insights that can help you improve user engagement and maximise the value of your product features.
Simon and Anastasija discuss how Starling Bank effectively communicates new features to users through concise emails and in-app notifications, ensuring that updates are relevant and easily accessible within the user journey.
Anastasija shares her experience with the British Airways app, highlighting the confusion caused by outdated features like faxing boarding passes, which raises questions about the relevance of certain functionalities in modern applications.
Follow us on Linkedin!
https://www.linkedin.com/in/anastasijakrysa/
https://www.linkedin.com/in/simonvhook/
Building Great Tech is the podcast that helps mission-driven tech businesses become more profitable and customer-focused. Whether you're just starting out or optimising what you’ve already built, each episode helps you drive conversion, retention, and real business growth.
We dive into customer-focused strategies, killer product experiences, ethical tech, team dynamics, and smart roadmaps. Expect expert interviews, startup case studies, and practical advice to help make your tech profitable, scalable, and deeply aligned with your mission.
In this episode of the Building Great Tech podcast, hosts Simon Hook and Anastasija Krysa delve into the critical issue of customer churn, exploring whether pricing or product experience plays a more significant role in driving customers away. Drawing on insights from PwC research, they discuss how businesses often misattribute churn to pricing issues, overlooking the impact of customer experience. Simon and Anastasija share compelling statistics, real-world examples, and practical strategies to help listeners identify the true causes of churn. They also provide a framework for assessing product experience versus pricing, encouraging businesses to focus on delivering exceptional customer experiences to justify their pricing. Tune in for valuable insights that could transform your approach to customer retention!
Simon highlights that 86% of buyers are willing to pay more for a great customer experience, emphasising the direct link between product experience and pricing strategies.
Anastasija discusses the importance of understanding customer feedback, noting that many customers use price as a socially acceptable reason to leave, masking deeper issues related to product experience.
Simon and Anastasija conclude that successful companies optimise product experience to justify pricing, urging listeners to focus on behavioural analysis rather than assumptions to identify real issues affecting customer churn.
Follow us on Linkedin!
https://www.linkedin.com/in/anastasijakrysa/
https://www.linkedin.com/in/simonvhook/
Building Great Tech is the podcast that helps mission-driven tech businesses become more profitable and customer-focused. Whether you're just starting out or optimising what you’ve already built, each episode helps you drive conversion, retention, and real business growth.
We dive into customer-focused strategies, killer product experiences, ethical tech, team dynamics, and smart roadmaps. Expect expert interviews, startup case studies, and practical advice to help make your tech profitable, scalable, and deeply aligned with your mission.
Build better tech. Serve more customers. Scale with purpose.
Building Great Tech is the podcast that helps mission-driven tech businesses become more profitable and customer-focused. Whether you're just starting out or optimising what you’ve already built, each episode helps you drive conversion, retention, and real business growth. We dive into customer-focused strategies, killer product experiences, ethical tech, team dynamics, and smart roadmaps. Expect expert interviews, startup case studies, and practical advice to help make your tech profitable, scalable, and deeply aligned with your mission. Build better tech. Serve more customers. Scale with purpose.
HOST BIO
Simon Hook and Anastasija Krysa are a powerhouse duo combining deep expertise in customer experience, technology, and product design to guide businesses toward technological excellence.
Simon Hook is a seasoned customer experience specialist, tech consultant, and entrepreneur with a proven track record of aligning technology with real customer & business needs. Having advised major organisations like British Gas, Shell Energy, and Barclays, as well as scaling tech startups, he excels in areas such as audience validation, securing product-market fit, and post-Series A growth strategies. His insights into conversion, retention, and user experience have transformed underperforming platforms into high-growth success stories.
Anastasija Krysa brings over 15 years of experience as a product designer and business owner. She thrives on collaborative ideation and is inspired by creating engaging and intuitive solutions through experience design. Anastasija has a remarkable ability to drive positive change, as evidenced by her work with a founder who nearly lost $100K in funding, where her expertise played a pivotal role in turning the situation around. She is also an active member of TechWomen4Boards, supporting women globally in the tech space.
Together, as co-hosts of Building Great Tech, they share insider strategies, battle-tested frameworks, and hard-won lessons to help founders build, scale, and monetise technology the right way.
USEFUL LINKS
https://buildinggreattech.com/
Our Linkedin Bio's:
https://www.linkedin.com/in/anastasijakrysa/
https://www.linkedin.com/in/simon-hook/
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