Typically, when companies want to improve their products, they go to their customers. But why not reach further and explore the entire market? In this eye-opening book, Eric Reidenbach goes beyond the "voice of the customer" that so many consultants talk about to introduce you to a groundbreaking concept: the Voice of the Market.
Like most business people in this global marketplace, you are searching for that edge that will help you increase market share. In this book, Dr. Reidenbach, teaches you how to identify, and capture the Voice of the Market and then use that data and a new understanding of it to make your organization market-focused. It is not about hijacking customers with one-time special pricing. Instead, it is about applying the proper tools and processes to move your organization from a production or sales orientation to a truly market-based focus.
Listening to the Voice of the Market: How to Increase Market Share and Satisfy Current Customers is not for the lazy entrepreneur. Of course, interviewing internal customers is much simpler and probably less painful than probing the thoughts of those customers who have so far eluded you. But with this book as your guide, you will develop surveys that are more than skin deep, learn how to deliver them to the right people, collect information that is useful, and then turn that information into action steps that will help you cultivate customers who feel listened to, which is the first and most obvious step in building loyal relationships.
Table of Contents
Defining the VOM
Customers or Markets?
The Product/Market MatrixIdentifying Which Voice to Listen to
Customer Value versus Customer Satisfaction
How To Listen
Collecting the VOM
Building the VOM Architecture
Modeling Market Value
Understanding Your Competitive Value Proposition
Loyalty and Vulnerability Analyses
How to Use the VOM
Driving Competitive Planning with the VOM
Identifying SS Projects with the VOM
Monitoring Change Effectiveness with the VOM
Managing Your Net Promoter Score with the VOM
In today’s competitive global economy, it’s no longer sufficient to satisfy your customers: you have to delight them. Even then, to grow your company, you cannot delight only your customers. Imagine delighting your competitor’s customers … you just might gain market share …. You cannot afford to ignore the customers outside your circle. Reidenbach’s thought process tells us that if you want to know what the people want, then go to them.
—Michael Marx, Six Sigma Black Belt, Research Manager at iSixSigma, & Founder of SixSigmaCompanies.com