Yield Valuable Customer Insights to Improve Customer Acquisition, Experience, and Retention
Gaining insight into buying decisions and supplier selection can make all the difference between success and failure in today’s business environment. Given the investment of critical resources in product development efforts and go-to-market strategy development, companies often need to explore market reactions, perceptions and preferences. Customer loyalty and retention have significant financial implications for most organizations.
Smart organizations invest in and take a customer-centric approach. These organizations establish processes and tactics to tap data in order to help make better fact-based decisions about markets, customers, and products.
There are various market and customer research methods, such as voice of customer, focus groups, surveys, interviews, mystery shopping, along with the use of customer advisory boards, and other customer forums that can be employed to analyze and reveal important customer insights related to:
- Customer buying criteria and supplier preferences
- Customer buying journey
- Customer experience
- Opportunity development and win/loss analysis
Looking for an affordable approach? Advisory Boards (CABs and TABs) and Voice of Customer (VoC) are two affordable techniques any company – regardless of size – in any industry, can implement to facilitate their customer-centric journey. Advisory boards improve your company’s probability for success by providing affordable access to people to better understand the issues that drive marketing decisions. VoC is a technique designed to help a company positively affect the customer experience, and identify and prioritize customer wants and needs.
Contact us to learn more about our cost-effective approaches to improve your listening techniques, develop and implement a VoC initiative to establish customer and/or technical advisory boards. Check out our QuickStart Intelligence Service™.