for both the department and the
organization growth, must base their
design on the outcomes of customer
feedback.
Whether the organization has a
strategic intent to carry out market
expansion into new geographical
areas, or expand the scope of
business by entering into previously
unchartered market segments,
or venture into new channels of
distribution, customer data is
essential for decision making.
The marketing team leadership must
break down corporate strategy (any
strategy worth its salt will have a key
strategic pillar on marketing) into
deliverable marketing objectives. The
key revenue drivers for any marketing
initiatives are market awareness
and market uptake. To concretely
establish both these elements,
requires that the customer’s voice is
heard, and incorporated to deliver
what the customer wants.
VOC data is vital to marketing
growth by providing insights into the
performance of products and services,
the channels for outreach and route
to market, identification of market
opportunities and understanding of
customer preferences.
In as much as the marketing research
team may conduct non–personalized
studies, and venture into digital
perusal online of relevant websites,
case studies, white papers, industry
reports and documented articles;
these need to be studied in the light
of what customers are saying, to
ensure the information garnered
may be used to ensure corporate
alignment.
Business Development that is
currently transposed semantically
with sales in what is believed to be
a more jazzed up application, is the
engine of the entire organization and
is directly responsible for revenue
generation. Revenue in itself whether
36 MAL 19/17 ISSUE
‘‘ Lead generation
is greatly enhanced
through a holistic
understanding of the
potential customer,
and what it would
take to rope them in.
A VOC study would
be essential to drive
new ideas that would
have the business
development team
reach out to the new
and existing markets
with relevant and
customized offerings.
It is from the very
VOC, especially if
angled to enquire
from the customer
how they would like
to be served better,
or what suggestions
they would have to
improve the products
or services, that new
product development
would be spiked for
targeted success.’’
the organization dispenses tangible
or intangible products, is generated
by the company’s customer base.
New and old customers alike bring in
business to the organization.
How much more than anything
does the unit charged with the
responsibility to prospect and convert
prospects to paying customers, and to
upsell within the existing customer
base to ensure continued customer
business inputs, need to know and
totally understand the customer?
Lead generation is greatly enhanced
through a holistic understanding of
the potential customer, and what it
would take to rope them in. A VOC
study would be essential to drive new
ideas that would have the business
development team reach out to the
new and existing markets with relevant
and customized offerings. It is from
the very VOC, especially if angled
to enquire from the customer how
they would like to be served better, or
what suggestions they would have to
improve the products or services, that
new product development would be
spiked for targeted success.
Whether the product development,
repackaging or rebranding is being
done in house or from an outsourced
vendor, the analysis of what works,
what doesn’t work, what needs to be
tweaked and what the market will
receive enthusiastically, are all by-
products of listening to the voice of
the customer. The ability to identify
opportunities and turn around gaps is
spurred by customer feedback.
The business development arm are
also often very keen to the sensitivities
around price. To launch any new
initiatives requires that pricing is set
to be both competitive and profitably
meaningful. Customers will always be
eager to provide feedback on pricing,
and share their sentiments on their idea
of what constitutes value for money.
This allows the business development
team to work closely with the finance
department, to set relevant pricing for
products and services.
If customer needs and preferences
are addressed by products that they
deem add value to their lives, then the
pricing model and final price tag to
the customer will not yield complaints.