4 Lesser Known Benefits of CX Insights

4 Lesser Known Benefits of CX Insights

An effective customer experience program can help you reduce churn, enhance complaint management, identify and resolve critical customer issues, and increase customer loyalty. And, of course, all of those in turn help lead to business success. But have you considered how those customer experience insights might also give you ideas for new products or services? How about for repositioning your brand?

Identify ideas for new products and services

Developing products and services often begins with focus groups or other qualitative research to brainstorm and explore reactions to concepts. However, customer comments from a CX program may also provide this information, as customers will often share what they believe are the gaps in what you currently provide.

The resulting concepts can then either be tested in qualitative research, or you may move straight into development and testing. In either case, your customer experience insights just gave you a significant leg up on the process!

Understand the unique segments of customers or prospects

CX insights can be analyzed to identify and compare customer segments. Understanding different patterns in how customers use your products and services, who they are, their perceptions of your company/products, and what problems they are solving can lead to new and different ways to think about/examine your customer base. A formal, statistical segmentation may potentially not be necessary before implementing marketing programs to attract and motivate your various target audience segments.

Increase awareness of the full range of products and services offered

Customer experience insights may provide information about how your customers learned of your brand, the ways products are used, or highlight gaps in awareness of your full range of products. Put together what they know and don’t know, along with where source their information, and you can more effectively advertise and promote your products.

Refine your brand position

It can be beneficial to have an outside opinion of your perceived strengths, as the marketplace may view your brand differently than you would expect. Customer experience insights can help you examine your customer’s perspective of what you do well and what they say makes your brand unique. You might even uncover some selling points that you were not aware of or would not have previously considered. This information can then be leveraged to refine your unique value proposition and brand promise.

While your CX insights may not directly address all of these needs, it’s a great starting point. Customer experience insights will at least give you some ideas and hypotheses to test, confirm, and refine with future research. The important thing here is to stay open and alert to new and emerging information from your customers.

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