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Harnessing Voice of the Customer for Incremental Innovation

A three-page excerpt from our 18-page Best Practice Guidebook:

The contents of these pages are copyright © Frost & Sullivan. All rights reserved.

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Harnessing Voice of the Customer for Incremental Innovation

Best Practice Guidebook

Note: Data are illustrative and do not represent actual data.

• Establish the Customer Insights team as a service center, rather than as a mandate from above. This will increase buy-in, open up access to business units data, boost the use of Customer Insights’ work, and avoid territorial behavior by divisions with revenue targets.

• Ensure the Customer Insights team has access to companywide data. This allows the team to integrate cross-business insights, support decision-making at all levels of the business, and link customer feedback to measurable changes in customer behavior (such as increased revenue, retention, and loyalty).

Citrix needs to improve customer retention in an economically feasible way.

Citrix

INDUSTRYInformation and Communications Technology

REVENUE (2012)$2.59 billion USD

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Citrix develops a comprehensive program to collect, prioritize, and embed the voice of the customer in the innovation process to drive meaningful product improvements and increase customer retention.

Citrix’s Key Lessons Learned

SolutionChallenge

CorporateStrategy

Corporate Development

Marketing

CompetitiveIntelligence

MarketResearch

SalesLeadership

R&D/Innovation

Investors/Finance

CEO

R&D/Innovation

MarketResearch

Applicability to Executive Functions

Collect and Analyze Customer Voice »

Embed Insights within Product Teams »

Apply Insights to Innovation »

Solution Components

Ask The Thought Leader (ATL) WebinarRead a summary of the question-and-answer session with CitrixLISTEN TO THE ATL NOW »

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Source: Citrix; Growth Team Membership™ research.

Overview Page . . . . . . . . 3

Customer Insights (CI) Department . . . . . . . . . 4

Collect and Analyze Customer Voice . . . . . . . 5

Embed Insights within Product Teams . . . . . . . . 6

Apply Insights to Innovation . . . . . . . . . 10

Business Results . . . . . . 12

Key Lessons Learned . . . . 13

Frequently Asked Questions. . . . . . . . . . 14

Supporting Tools & Resources . . . . . . . . 17

Design Matters Initiative 17

Customer Experience Survey 18

Net Promoter Score® (NPS) 18

Contents

•Dedicated centralized program manager or analyst

• Buy-in by key stakeholders to take action on primary insights

• Funding for tools, resources, and research:

- If an in-house effort—a survey tool, method for sending the survey invitations, a text analytics tool to categorize open text comments, and a tool to aggregate and analyze the data (such as a spreadsheet tool)

- If an outsourced effort—vendor will handle the survey tool and contact process

•Approximately 45% of customer-driven business cases become new products or product features

• 30% reduction in cost-per-lead for some segments

• 100% adoption of VOC process by product teams

Business Results Resources Required

HEADQUARTERS Santa Clara, California, United StatesGEOGRAPHIC FOOTPRINT Global

OWNERSHIP PublicEMPLOYEES (2012) 8,212

Contact the Growth Team Membership™ (GTM)

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The contents of these pages are copyright © Frost & Sullivan. All rights reserved.

best practice guidebookgrowth team m e m b e r s h i p™

Source: Citrix; Growth Team Membership™ research.

Citrix uses a three-part process to capture and translate customer feedback into insights for product teamsFrom Customer Voice to Product Innovation

Collect and Analyze Customer Voice Embed Insights within Product Teams Apply Insights to Innovation

ObjectiveCapture the voice of the customer and translate it into usable insights

ObjectivePackage and deliver customer data and insightstoinfluenceproductdevelopment’sdecision-making

ObjectiveApply insights to improve products’ features and performance

Activities•Assign ownership of stakeholder needs by

analysts’ specialization

•Develop qualitative and quantitative customer feedback mechanisms

•Assess and prioritize customer needs based on their frequency, value, and impact

Activities•Develop customer personas to bring to life

the needs and preferences of customers for stakeholders

• Illustrate the impact of customer perceptions and use of products

•Provide usable insights (needs and trends) for new products and/or features

Activities•Collaborate with product teams to use

customer insights for a new product business case

•Track and communicate the ROI (as measured by revenue, retention, and brand loyalty) of insights-based innovations

•Use Virtual Customer Advisory Boards to collaborate with customers on high-priority projects

from voice of the customer to customer retention

Voice of the Customer Insights Incremental Innovation Increased Customer Loyalty and Retention

Customer engagement depends upon two-way communication: customers provide feedback to the company, and the company reports back to the customer on how the feedback was used. Voice of the Customer (VOC) is a key component of this engagement cycle because it enables companies to harness customer feedback to drive incremental innovation (existing product enhancements that maintain or increase competitive advantage), thereby contributing to customer satisfaction and retention.

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Harnessing Voice of the Customer for Incremental Innovation

GTM and Tabitha Dunn, Managing Director of Customer Insights at Citrix, present this best practice where Tabitah shared her key lessons learned and participated in a Q&A.

View GTM’s webinar with Tabitha Dunn (Citrix)

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