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Your customers may not be marketing or finance pros, but they know exactly what your next product should be — and they are already telling you. But many businesses miss the mark by not connecting with customers through engaged listening, to deliver actionable insights that can improve products–and the bottom line. By building a framework for engaging customers, you will learn more about new innovations, new options, and new revenue streams for your company.
Here is what we learned when we asked our customers about our latest product: They were very concerned about the lack of information regarding whether a payment was going to the correct account. Sometimes account information was erroneous and sometimes accounts were closed orWith an ongoing goal of engaged listening, our team asked what products customers were using, where the process was frustrating, and what could be better at every point along the way.
Certainly, it would have been great if customers en masse were telling us “We need an account verification solution called Verify,” but that is rarely how it works. The process of going from pain points to new product is more involved and intuitive.. The more data you have from the more departments, the better. Engineers, sales and marketing teams, and company leadership can all collaborate on gathering both quantitative and qualitative data.
Connecting with and listening to customers is always the right thing to do. Engaged listening takes this a step further to listen deeply, ask questions, gather data, and determine logical next steps, creating the possibility of a great new product and an engaged and loyal customer base.
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