In an age where the world shrinks daily, driven by technology, remote work, and seamless communication, businesses are leaping into global markets. The result? A hyper-competitive business landscape.
Staying ahead demands more than mere guesswork – it requires an intimate grasp of your market, your customers, and even your adversaries. While these dynamics evolve, one often-underestimated treasure emerges: harnessing VoC programs to strategically outmaneuver your competition.
Voice of Customer involves gathering data from customer reviews, feedback, and surveys. This valuable information offers a unique lens into not only your customers' preferences but also your competitors' actions.
Use your surveys as a discovery tactic by designing surveys that cover specific queries.
Survey Tactic 1: Onboarding.
Not only is it a great way to welcome clients into your environment, it's the perfect opportunity to find out a few insights into why your customer left their previous service provider, delve into checking pricing or learn more about product bundling or offerings.
Survey Tactic 2: Seasonal offerings.
Not only can you use seasonality to your advantage by running frequent feedback surveys for your product or service, you can also use these seasonal transitions to ask your customers questions about offers, or products that they might want to see at this time of year. Doing so could give you an idea of what your competitors were doing and if they're doing any seasonal offerings.
Survey Tactic 3: Rewards.
Ask your customers about rewards packages and ask what kinds of product rewards they would be interested in seeing.
Not only will you gain an understanding of how to better segment your user-base, you'll get an idea of what kind of marketing and rewards your competition may have offered.
While VoC doesn't provide a literal crystal ball, it offers the next best thing: predictive insights. Are they focusing on a specific target audience? Are they expanding into new markets or product lines?
Through continuous monitoring and analysis, you can begin to predict your competitor's potential moves and you'll start piecing together a picture of your competitor's overall market positioning.
Picture VoC as your secret weapon in the war of wits. Armed with insights, you can recalibrate your strategies – refine your marketing, adjust your pricing, and enhance your customer experience. Your business becomes an agile force, ready to seize opportunities as they unfold.
This proactive approach helps you stay ahead and seize opportunities as they arise. In a world where information is power, Voice of Customer provides an edge like no other. It's not just about listening to your customers; it's about unlocking a treasure trove of competitive insights that guide your every move.
Are you ready to let your customers' voices guide you to triumph in the dynamic arena of business competition? Smoke CI is, reach out to us today.