Survey Design & Analysis can help you put together a Customer Panel that will deepen customer relationships by helping you understand your customers' needs while keeping them informed. The results will provide you with crucial information to help run your business and better compete in your market.
The benefits of a having a customer panel that can provide you regular feedback are many, some of which include:
- Shows your customers that you are listening to them and are interested in what they have to say
- Allows you to gather information in a timely and cost effective way
- Helps you understand the needs and wants of your customers
- Provides an avenue for relaying important information to your customers
In today's economy, you can't afford to lose touch with your customers. Let Survey Design & Analysis help you build a Customer Panel at your site. Or we can tailor a program to fit your needs. You may only need coaching on how to get started or you may just need help with surveys you field with your panel. Whatever the level of support, we can help you. Your customers will thank you. Call 303.818.3679 for pricing information.
CASE STUDY: Customer panels - Creating a Customer-driven Company
The Business Challenge: It is a common belief that if a company pleases its customers, that company has a bright future. On the flip side, a company who ignores its customers’ needs is a company doomed for failure. Realizing this, a $2.5 billion high-tech company wanted to improve its decision-making process by talking to customers. With a huge percentage of revenue coming from a very small portion of its customers, the company knew which customers would be likely to provide the most critical feedback. In the past, the company had gathered limited customer data and had spent insufficient time growing existing relationships. It would be a challenge to get these key customers engaged.
The Solution: A customer panel was started as just a group of customers that provides routine feedback to help facilitate the company’s decision-making process. The company used personal invitations to recruit customer participation. Participation was voluntary and member customers agreed to provide feedback using online questionnaires, telephone interviews, one-on-one meetings, and focus groups. Personal contact and regular follow up with customers fostered strong relationships with panel members. The company recognized the value of their customers' time and limited their involvement to less than 20 minutes per month. Online questionnaires served as the primary means of contact with the panel. This proved cost-effective and an efficient use of participants’ time. The company used the panel’s feedback to make decisions in the areas of marketing, product development, customer satisfaction, case studies, strategic planning, and more. Responsiveness, follow-up, and personal contact were integral to maintaining high response rates. Tremendous respect was paid to customers’ limited availability and, in return, the customers dedicated what time they could to help the company succeed. In order to encourage long-term participation, the company offered customers special services and unique opportunities available only to panel participants. They also sent customers regular communications discussing decisions made in direct response to their feedback.
The Results: It was soon apparent that customers wanted to give input. They appreciated the value placed on their feedback and the decisions that resulted based on that input. Through regular communication, the company routinely reached response rates of 65-70 percent. The panel was a huge success for another reason – it enhanced the relationship with key customers. They became involved and interested in the success of their vendor, increasing customer loyalty, growing sales, and driving marketplace success. Eventually, invitations to participate on the panel were extended to all customers. Requests for information from the customer panel came from all areas within the company. The critical information provided by these valued customers became a hot commodity. If a request was deemed appropriate, the panel was contacted to provide feedback. In order to keep its internal customers happy, the leaders of the customer panel offered a two-week turnaround on internal information requests. Ultimately, the advisory panel concept was applied to other areas within the company. Realizing that customers extend beyond the traditional definition of the word, the company applied the panel concept to its internal customers as well. A field advisory panel was initiated, and within less than two years, panel participation increased more than tenfold.
Uses and Applications: The use of a customer panel gives companies strengthened relationships with customers and the opportunity to make more informed decisions. By implementing the panel concept, customers realize that a company is listening and interested in what they have to say. In return, companies obtain timely and cost-effective feedback and become a truly “customer-driven” company. Our team of dedicated research and marketing professionals will help establish a customer panel using a customized approach to meet each company’s unique business needs.
How it Works: A company’s relationship with its customers is a valuable asset. Companies need a clear and regular view of customer perceptions and needs. We work with your company to devise the panel concept customized to your unique situation. We help determine which customers should be on the panel, what kinds of business decisions can be improved with panel input, and how to optimally manage panel interaction. When it comes to implementation, we can handle every detail, as you like, including providing a staff resource to manage the panel on an ongoing basis. Or, we can train internal staff to set up and manage the panel. Every aspect of the customer panel will be unique and tailored to address specific business needs, thereby creating strong customer relationships and loyal customers. In today’s economy, companies can’t afford to lose touch with customers. Our team of seasoned professional helps keep companies in touch with their most valuable asset – their customers.