Voice of Customer
In the face of uncertainty about regulation and market developments, firms often need to strengthen their understanding of customer expectations. Failure to hear the “voice of customer” can misdirect product design and innovation, or worse, allow competitors a foothold. Yet customers often don’t fully understand the impact on their business of new regulations and may find it difficult to articulate their requirements. Asking them what they want sometimes reveals little but a “gripe list” of short term niggles. “Customers” can also be internal business divisions who rely on services from a shared central function.
Our “Voice Of Customer” service helps you tap into what your customers are thinking strategically – about you, about their requirements and timing, about your service and those of your competitors, and what service innovation they would value most. Typically we work with you to:
- Identify the “customer agenda”
- Analyse and prioritise customer segments
- Identify specific representative target customers (or internal stakeholders)
- Develop a structured customer survey questionnaire
- Win the trust of the RMs to secure customer access
- Conduct face to face qualitative interviews backed by a quantitative survey
- Analyse results to identify key conclusions and recommendations
- Present findings and recommendations internally, often in support of an investment case
TFE is ideally placed to help you with “Voice of Customer” analysis: customers will often open up more to an independent third party, especially if (at your option) feedback is provided on a non-attributed basis. Customers can also be pleased that you have engaged external experts to seek their views, which indirectly strengthens the relationship. Our recommendations are unbiased and objective, allowing you to make informed decisions.
If you think TFE could help your business please get in touch