Businesses often miss a vital trick when it comes to harnessing the customer’s knowledge for furthering their business via product development or marketing. Customers who have a lifetime’s experience in using products and availing services are ideally placed to offer inputs on little tweaks and additions that can make a product that much more useful. Their interaction with the front-end gives them insight into customer-facing issues from the customer’s perspective. The operative phrase here is “customer’s perspective” and that is something companies often fail to tap into.
Companies that involve customers in the knowledge sharing process fare better than those that turn inwards for answers. This is because the customer is exposed to industry trends and market dynamics in his capacity as a buyer. Improved means of communication and the proliferation of web 2.0 have made it easier for companies to reach out to their customers. Web 2.0 has offered customers a platform to discuss and compare products and services. Savvy businesses are using this platform to interact with customers and create relationships with the opinion influencers amongst them because their word carries weight.
The result is fresh feedback on issues and insight into the resolution of issues. Customers can also provide the spark that can lead to new products being developed. A huge advantage of involving the customer is that their needs can be pre-empted and customer service levels are improved.
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