Voice of Customer Identifies New Markets and New Product Applications
Capturing and leveraging the voice of your customers is a powerful tool to grow your sales. In addition to helping your sales team realize explosive growth in sales and profits, it also can identify new markets.
My daughter and son in law just bought their first home. Like a lot of starter homes it has a number of fixer upper projects. Each room needed painting, the kitchen cabinets needed updated and the wallpaper in the bathroom had to go. What I learned is, as dad’s we typically get the jobs no one wants like removing layers of wallpaper.
It is a small bathroom but the first day I spent four hours removing wallpaper. I shared my frustrations with a friend and without missing a beat she said…Did you treat the walls with downy fabric softener first? What? I was using a tool to score the wall and a steamer, what will fabric softeners do? I figured it could not hurt so I tried it.
It turns out this is something home remodelers use often to make removing wallpaper much easier and quicker. I searched the Internet and there are article about using fabric softener you typically would buy for your clothing for stripping wallpaper. There is even a You tube video that shares how using fabric softener helps making wallpaper removal easier. A do it yourself website talks about using this process.
It worked so well, if Downy did voice of customer research they might offer small 4-6 ounce bottles at Home Depot and Lowes in the wallpaper isles. I would recommend they charge between $3.50 and $4.95 for these small convenient bottles to be mixed perfectly with one gallon of water when stripping wallpaper.
How do your customers use your products and services?
What problems do your products solve?
Could you have a new market you are serving today that you can expand?
Take the time to capture the voice of your customers and learn how they buy, what they need to buy, and how they use your products.
You may find new markets and new distribution channels for current products that can grow into profitable new business.
