Product Market Fit for a Shifting Marketplace
July 27, 2022
Product Leaders are facing a rapidly changing marketplace and traditional means of learning are outdated. We are looking to understand how product lea... See more
Executive Summary
Multiple Research Learning Tools are used to better understand the Voice of Constomer (VOC)
- Business teams need VOC Research Learning Tools and they provide generally neutral to somewhat favorable ratings for those available
- A variety of Research Learning Tools are needed to uncover insights, highlight opportunities and obstacles
- Capturing VOC insights warrants a variety of tools which are selected based on product life stage and business issues
- Best Practices are applied to understand and apply the optimal Research Learning Tools
Theme Content Brief
Audience
The intended reader of this deliverable is a product development professional who is creating or evolving Research Learning Tools which help to get a better grasp on the Voice of the Customer.
Title Suggestion
Evolution of Research Learning Tools for Marketing & Research Professionals
Angle
There is opportuniy to create new RLT's or evolve the current tools. There are moderate satisfaction levels with room for optimization.
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keyboard_arrow_down VOC Needs
4
format_quoteVoice of the Customer channels should have robust feedback mechanisms. If feedback is truly valued, it must be acknowledged and customers should expect a level of response for their input.
By: Kevin O'Donnell
3
format_quote
The challenge we have is gathering voice of the customer at scale. When when doing VoC in a small startup, direct methods are feasible, however at scale obtaining the same quality of insight becomes more deliberate.By: Mustafa Al-mosawi
1
format_quoteThe first step is buy-in from leadership on the value of VOC. Next, choose a platform to (a) seek participation, (b) collect data in a straightforward way (c) report conclusions efficiently. Lastly, convey findings in an easy-to-understand format to apply to projects and disseminate results
EditedBy: Rocco Del Greco
1
format_quoteOur voice of the consumer is really used to help inform and prioritise our product roadmap and limited resources. As well as helping provide direction, it also reduces the risk that HiPPOs have undue influence on key decisions.
By: Alex Jones
1
format_quoteVoice of the consumer is key because the consumers are the ones that will make or break your product.
By: Jorge Arce
0
format_quotein building a "Voice of customer" culture in the company is to ensure all leadership team goes away from personal opinions to trust more voice of the customer.
By: Shady Ramadan
0
format_quoteTo develop mass market oriented products, it's key to identify the key applications and engage with insightful customers to summarize common denominators (features) and create products based on them. There will be a lot of trade-offs
By: Will Zhou
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keyboard_arrow_down Best Practices
3
format_quoteTalk to someone who doesn't use your product. Establish a new relationship rather than rely upon existing relationships. Often researchers don't go outside existing business relationships to get insight. Its hard work and yields more negative responses than working with friendly customers.
Edited
By: David Tigay
3
format_quoteWhen attempting to get VOC, ask about problems and how they solve them currently. Ask about customer's typical day. Ask about frustrations and how they handle them now. Don't pitch your newest product.
By: David Tigay
2
format_quoteA marketeer's core role is to keep a hawk's eye on the market and its trends. This includes customers, users, prospects, and influencers. We do a 360-degree of listening of the customer and the influencer group across multiple forums.
By: Mitul Mehta
2
format_quoteTo develop custom products, it's a key to engage with those top "teaching" customers who have the technical/end user insights and will support the volume when product in production.
By: Will Zhou
1
format_quoteNever pitch a new product when you are trying to get Voice of Customer. The customers like you and will tell you that your new product is super and they may buy it in the future. This information is useless. New product demo's are their own category.
By: David Tigay
0
format_quoteTo develop mass market oriented products, it's key to identify the key applications and engage with insightful customers to summarize common denominators (features) and create products based on them. There will be a lot of trade-offs
By: Will Zhou
0
format_quoteWe usually map customers (by geography and potential) and map contacts inside in order to achieve information on how we can get value from production / from Quality / from Product Development - Innovation / or Finance
By: Miquel Iribarren
0
format_quoteWe broadened the definition of 'customer.' If there is a problem affecting customers, your customer sat declining. & employee sat is likely declining too. Go wider, to address VOC-identified initiatives. By boosting employee sat as part of VOC efforts makes decisions easier.
EditedBy: Jonathan Ralton
0
format_quoteIn a B2B context, early-launch products where we were trying to find market product fit, we find early-adopters and work deeply and collaboratively in a pilot, To gain quick feedback as we progressed, findings are validated with Sales, Tech, Customer Advisory Boards and Customer Success.
EditedBy: Mustafa Al-mosawi
0
format_quoteBy listing out these questions in order from highest risk to least, and tackling each group with the appropriate tool, you can iteratively arrive at a go/no go for a new product launch. Usually each question that needs to be answered will have an appropriate VoC mechanism for it.
By: Mustafa Al-mosawi
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keyboard_arrow_down Solution Selection
3
format_quoteBefore starting VOC research, it is vital to understand "who" you'll be asking (the customer group) and "who" you'll be telling (your internal audience). Choose whether your audience will be more informed by quantitative vs. qualitative findings. Do not overlook the power of video,
EditedBy: Rocco Del Greco
2
format_quoteIf dealing with technology/app experience, it is OK doing online as the customer usually has everything they need. Best case is when the user is going to be doing something 1:1 with the tech. With a physical product or if there is value to ‘wisdom of the crowd’ in-person focus groupa are better.
EditedBy: Jonathan Ralton
1
format_quoteThe customer has their own 'truths' or 'perceptions.' Sales wants to 'educate' them on why they are mistaken or wrong. True VOC does not judge, educate or pitch new products. It records the answers. In order to capture it accurately, you must eliminate the sales staff from the conversation.
EditedBy: David Tigay
1
format_quoteWhen trying to get a sense of scale, the drivers/barriers to uptake for a service etc I'd prioritise (quantitative) survey tools. If trying to get under the skin of something and understand the how/why then a (more qualitative) tool like UserTesting is great.
EditedBy: Alex Jones
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keyboard_arrow_down Viable Alternatives
2
format_quoteUserTesting is our go-to platform for early stage discovery work - customer feedback. Lucky Orange is a platform we use for heat mapping our websites. We use surveymonkey to host our NPS and any ad-hoc customer research surveys. Intercom feels like it could be a really powerful but expensive
EditedBy: Alex Jones
2
format_quoteWe use Social Listening (mostly LinkedIn) tags that are set to give us the feed on industry opinions, likes, dislikes, and recommendations. Review sites, blogs, and forums are also great places to get anonymous but frank reviews of your products.
EditedBy: Mitul Mehta
1
format_quoteWe use different VOC sources - NPS feedback, online reviews, customer exit surveys, customer testing and analytics. We need to be mindful that one source isn't unduly influencing decision-making - e.g. customer complaints needs to be considered with the context of customers that haven't complained
EditedBy: Alex Jones
1
format_quoteThe increasing availabile data (market data; geographic info; pre-sales campaign; launch; customers interactions, compliants, public databases) it enables companies to build custom data soltions (predictive AI, ML, analytics). This can be accomplished by an internal department or outsourcing.
EditedBy: Marzio Alessi
0
format_quoteWe use 4 VOC platforms. Typeform to design surveys (easy for data collection). CrazyEgg gives feedback on web page interactions. UserTesting combines live user recording of website interactions and usage responses. VideoAsk uses asynchronous messaging/question/response for: video, audio & textual.
EditedBy: Rocco Del Greco
0
format_quoteWe recruited volunteers from our customer group to share their thoughts on features and roadmap. We identified a strong group of customer advocates that have been sharing what they like and what they want us to do next. We run this by product managers to hear first hand the VOC.
EditedBy: Farid Poonja