The transformation companies experience when incorporating the voice of the customer can be as transformative as the effects of email and the Web. The ROI and business impact of customer insights and next-generation market research can, therefore, be enormous.
Yesterday, Communispace’s Vice President of Business Strategy, Bill Alberti, presented a whirlwind tour of eight case studies of Communispace communities, all packed neatly into a digestible, sharable 30-minute webinette.
Here are a few examples of the business impact of customer insights:
- IHG/Chase experienced an 80% increase in new accounts when customers helped co-create a dream credit card.
- Godiva had the biggest global product launch in company history after insights from their private online community helped co-create Godiva Gems: the line of “casual gifting” luxury chocolates accounted for 10% of total sales in its first year.
- Walt Disney Studios Home Entertainment’s customers helped answer the question “What are the barriers to Blu-ray adoption?,” leading to a wildly successful re-release of “Snow White and the Seven Dwarfs”—68% of which was in DVD+Blu-ray combo packs.
- ConAgra Foods—the company behind such brands as Hunt’s, Snack Pack, Pam, Peter Pan and Egg Beaters—marketed the emotional truths behind seasons (gleaned from customers) and enjoyed a 24% higher gross margin in “Shopper Seasons.”
The business impact and return on investment of market research online communities is not only very real, it can be game-changing. The voice of the customer can literally transform a company.
We recorded the webinar—watch it below: