Voice of Customer and Social CRM

Product Management

Fierce competition rages in just about every product and service sector. Globalization and ubiquitous technology have removed barriers to entry in just about every industry. Continuous innovation is a must for enterprises of all sizes to keep their offerings relevant and preferable. A real-time customer listening system like Overtone's can help accelerate and deliver outstanding results at every stage in the product development lifecycle from market introduction to sunset.

• Conception: Uncover emerging market trends and "white space" in the industry map from the real-time unstructured feedback of your customer base. By continuously monitoring both volume and sentiment of customer comments, trends and spikes in customer attitudes stand out in sharp relief against baseline levels. These actionable insights afford the possibility of getting the jump on the competition and being first to market.
• Launch: There's no more crucial time in the marketing of a product or service than launch. Real-time customer listening allows you to closely monitor the success of your product launches and identify potential causes of dissatisfaction and opportunities for improvement at the time your customers are engaging with your new product or service. Continuous monitoring affords a baseline and benchmarking of customer's attitudes and opinions, so you can isolate before and after variables and speed up your root cause analysis.
• Growth: Potential problems or unmet expectations with existing products or services are immediately reflected in the collated customer opinion, so you can immediately take action to improve the brand experience in a timeframe that makes a real difference to your current customers.
• Competitive Intelligence Companies gain a new dimension of competitive intelligence when it's derived from the actual considerations of your customers and your competitors' customers. Know not only who is on your customer consideration short list but why.
• Maturity: Large enterprises with a significant internet presence may have product releases as often as once a day. In this rapid development environment with so many moving parts, a continuous listening system is invaluable resource for monitoring the integrity and reliability of products in a timeframe where fixing the problem can make a measurable impact on business results.
• Sunset: It has been the happy surprise of many companies to find their customers using their products and services in ways that they never imagined. Don't be surprised. Uncovering this "off-label" usage through customer conversation can lead to some of the most dramatic growth in mature phases of both industries and product lifecycles.

Continuous brand monitoring with OpenMic offers the possibility of both accelerating and extending the product lifecycle. With actionable customer insights, your improved product development function can help reduce development costs, avoid costly blunders and more efficiently deliver products and services that will delight and enage your customers.

You cannot ignore the strategic advantage that continuous listening and engagement offers your company. Please schedule a personalized demonstration of the OpenMic integrated listening suite.

Read the case study on how Yahoo improves their products with Overtone.