Any good product manager, sales exec, marketer or customer success manager understands the importance of meaningful customer feedback. Simply put, it’s the best indicator of what the market needs and where your product gaps exist.
That said, building bespoke one-off products for every single customer doesn’t necessarily make for the most scalable business model. Here at Wizeline we often say, “Build for markets, not customers.” It’s a common phrase that reinforces the notion that individual customer needs should be weighed within the context of the broader market and prioritized accordingly.
This week we announced the addition of automated market requirements analysis and customer surveys to the Wizeline platform. The goal: make it easy to both know thy customer and build for markets.
The new offering puts the customer at the center of the product strategy process. Drawing from data on your individual customers’ needs, the system identifies your top market requirements and automatically determines the features and functionality that are most likely to drive customer value.
As part of the new release, Wizeline users are now able to quickly and easily create surveys to gather feedback from their customers.
The resulting data is analyzed and automatically mapped to your set of possible product investments. Features that map to strong market needs are given a higher priority rank; those that don’t are given a lower weighting.
When combined with other data sources Wizeline already supports — your CRM (i.e., Salesforce) or survey results from your executive team — these market requirements insights help create a clear picture of: (1) what the market wants, (2) what will sell, (3) and what aligns with your overall strategy.
Here’s a quick example question from one of Wizeline’s customer surveys:
Unlike user panels, customer advisory boards or standalone feedback surveys, our new market requirements solution produces quantified results that can be automatically incorporated into the decision-making process. These aren’t retrospective, qualitative insights that end up in a slide deck 3 months after they’re needed — these are quantified values that are immediately useful for driving decisions.
To try the new market requirements analysis solution, log in to your Wizeline account. And, as always, let us know if you have any questions! We’re here to help.