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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. 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 customer data in order to help make better fact-based decisions about markets, customers, and products.

There are various market and customer research methods.  Some of the more popular research methods include voice of customer, focus groups, surveys, interviews, mystery shopping, along with the use of customer advisory boards.  The key is to employ an approach that will you gain important customer insights related to:

  • Customer buying criteria and supplier preferences
  • Customer buying journey
  • Customer experience
  • Opportunity development and win/loss analysis

Consider these Affordable Customer Research Methods

Looking for an affordable approach? Advisory Boards (CABs and TABs) and Voice of Customer (VoC) are two affordable techniques any company, regardless of size or industry, can use customer research to  facilitate their customer-centric journey.  We’d recommend every company consider these two approaches. Why?

  1. Advisory boards improve your company’s probability for success by providing affordable access to people to better understand the issues that drive marketing decisions.
  2. VoC  helps 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™.

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