<p>Do you really know how your company is perceived by current and potential customers and clients? Do you know who your best clients are and what they have in common with each other (that makes them different from the ideal clients of your compeititon?) Do you really know what those customers want and need - straight from their own mouths?Or do you just <em>think</em> you know?<br /><br />When you don’t win business (or a consumer chooses another option) do you understand why?<br /><br />Do you have quotes from clients who love you? And do you know their ideas for what your company can do even better?<br /><br />I conducted a series of 30-40 minute phone interviews as part of a branding process for an insurance broker client. We talked to a small number of each of the following:<br /><br />- Current clients of the firm<br /><br />- Prospects that selected another firm<br /><br />- Vendors who do business with my client and some of their competitors<br /><br />From just ten interviews we gained:</p>
<p>1) Clear feedback about the unique value my client provides that differentiates it from their competition. As with many of the brand interview projects I conduct, my client was not fully aware of how they are perceived as special by their clients and other key stakeholders.</p>
<p>2) Consistent feedback about the perception of the lead business development executive from prospects and vendors. This feedback can be incorporated into a modified sales approach</p>
<p>3) Clear feedback from a prospect about exactly what my client needs to do in the coming months to win the prospect’s business<br /><br />4) Extremely positive testimonials from current satisfied clients with details about how my client dramatically exceed expectations<br /><br />5) Specific comments from clients about what problems my client can rectify to provide even better service.<br /><br />Typically, respondents in these types of interviews are willing to be completely honest and forthcoming when asked the right questions in a non-threatening way. (Hiring a skilled third-party interviewer is a great way to achieve that objective. But if that's not feasible, do the interviews yourself, or consider creating a trade with a colleague.)<br /><br />In this case, with a small investment, my client very quickly gained valuable insight that helped them to understand how their value was perceived in their market place, how they were differntiated from the competition and how this informaiton could be applied to both their brand and business development strategies. They were able to apply the findings immediately to improve satisfaction of current clients and gain more interest from prospects.<br /><br />Are there areas in your business in which answers to a few strategic questions could result in a significant improvement to your bottom line? Don’t be afraid to ask.</p>
<p> </p>
2008-12-02T15:52:14Z
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dont-be-afraid-to-ask-how-a-little-market-research-goes-a-long-way
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2008-12-03T11:36:05Z
2008-12-03T11:36:05Z
Are there areas in your business in which answers to a few strategic questions could result in a significant improvement to your bottom line?
In-depth conversations with your clients about what they need and how they perceive your business produce results.
Don't Be Afraid to Ask: How a little market research goes a long way
0
2009-02-24T09:47:34Z