Who is the ideal target customer for our product?
What features will drive customers to switch to our product?
When will our product be utilized in the patient treatment continuum?
Where do we stand relative to our competitors?
Why do customers resist adoption of our product?
How do we better understand what our customers want?
These are some of the key questions at the forefront of any Marketing, Strategy, or Business Development executive’s mind. While many hours are spent gathered around a conference table trying to answer these questions, oftentimes the most actionable insights come straight from the horse’s mouth – the customers themselves. No one knows better what is needed than the customer. Incorporating Voice of Customer (VOC) insights into your strategy planning provides credible, data-driven support for short- and long-term strategic action plans.
When most people think of VOC, they think about their current customer base. However, VOC studies are not just limited to your existing customers – they can also be used to survey a potential new target sector or customer. VOCs also do not have to be representative of the entire universe to be actionable. Large quantitative VOCs (n of 50+) provide you with data that can be extrapolated to draw conclusions, but smaller qualitative VOCs are equally as valuable in providing directional guidance and supporting evidence (or lack thereof) for your assumptions. A qualitative VOC is a powerful platform for collecting feedback to support decision making when…
A qualitative VOC allows you to glean insights on customer needs and preferences, previous and future trends, workflow and technical nuances, and competitive positioning. These insights can then feed into strategy planning by providing support for assumptions or raising key questions to be further explored. Consider the following best practices when designing your VOC:
So, we challenge you to consider where customer insights might add value to your strategic planning – and take the first step in turning your questions into answers.
Voice of the Customer Process Overview
Contact Market Ready Rx for more information on how we can support and execute your Voice of the Customer study.