Let Customer Feedback Do The Driving and Learn Why

white paper | 2007
The Customer-Driven Innovation Series: Part 2
Let Customer Feedback
Do The Driving
a division of Carlson Marketing WorldwideThe Customer Innovation Series: Part 2
Let Customer Feedback
Do The Driving
Executive Overview
ight now-at this very moment-your hear, see and learn and turn it into the insightcustomers are providing feedback. They that answers the ultimate question of why >contentsare speaking to your organization at customers behave the way they do. This is thermultiple touchpoints, though multiple channels, realm of latent needs where your next innovation Executive Overview ____2and through their words as well as their actions. resides, waiting to be discovered. Customers: The NewBy listening well, an organization has a As most senior executives readily acknowl- Source of Innovation ___3breakthrough opportunity to let the customer edge, gaining that level of competitive advantage Defining and feedback do the driving on its road toward by listening well to the voice of the customer is Distinguishing EFM ____3becoming more innovative and predictive. Jack much easier said than done. Whether it is an Case Study: Cablecom __5Welch, the legendary CEO of GE said it best: inability to systematically tap into the richness of Customer Feedback _____________"We have only two sources of competitive customer opinions, preferences and attitudes; in Practice 6advantage-the ability to learn more about our or a struggle with integrating data across the Case Study: Yamaha ____8customers faster than the competition and the enterprise; or the challenge of institutionalizing Five Rules of EFM ______9ability to turn that learning into action faster and operationalizing the process of collecting and Can You Hear It?_______10than the competition." distilling feedback, companies are too oftenInnovators have historically been praised as stalled in their journey toward becoming true doers, as visionaries and as entities of action and customer innovators. But not anymore.leadership that propel the company years ahead As the second installment in the series, of the competition. 3M, Intel, GE and Toyota (to this paper describes why and how Enterprisename a few) are all companies known to act Feedback Management (EFM) is a critical com-fast to capitalize on the needs of the marketplace ponent in solving the problem of enhancingand launch new products and services that drive customer-driven innovation and improving theoutstanding returns and the laudations of admir- predictive capabilities of the organization. It alsoiers. But what about listening? A core quality of illustrates EFM principles by examining theinnovators that often gets overlooked is their practices of two companies-Yamaha andability to listen to customers well-keeping their Cablecom-now using feedback to become antennae up at all times, analyzing what they customer experience innovators.
White Paper in Brief
Who: How: Senior marketing professionals . Explains why feedback could be the missing link to innovation within your organizationWhat: . Shows how Enterprise Feedback Management (EFM)A roadmap to improving, using provides more timely, thorough and actionable insightand taking action on the velocity into customer behaviorand volume of customer-driven . Discusses the linkages among EFM, analytics and datainnovation within the enterprise mining to create a single predictive enterprise. Describes three proven best practices to make EFM a reality
©2007 Carlson Marketing Worldwide. Peppers & Rogers Group is a division of Carlson Marketing Worldwide. All rights protected and reserved. 2The Customer Innovation Series: Part 2-Let Customer Feedback Do The Driving
Customers: The New Source of Innovation
Something has to change. It has become just too Analytics, SPSS Inc. "It requires true and deeprisky (and too damn hard) to innovate the old way. listening to the voice of the customer, analyzingConsider the facts. Between 40 and 90 percent of all it and pumping fresh insight into products ornew products fail, 70 to 90 percent of the 30,000 services." In short, it requires customer-drivenpackaged goods products in the United States have innovation: new changes to facets of the a marke... [download for more]