Today’s technology is enabling increasing opportunities to gain insight into how consumers use products and where they can run into problems or “pain points”.
One of the finalists in a recent contest by Knowledge@Wharton has developed a tool that allows consumers to register their pain points online. An excerpt from the article is below:
“With their module, consumers can log entries around the clock, 365 days a year on a website about what their “pain points” are. The site is organized by sectors and sub-sectors, such as retail banking or mobile phone services. A site administrator filters all the pain points, which are then tagged and mapped to identify trends in customer dissatisfaction. Only the consumer and site administrator have access to this information and eliminates the bias inherent in conventional, time-consuming methods used to gauge customer satisfaction, such as surveys or focus groups, says Dhargalkar.
The software’s inventors tested the module for more than two years with a group of 500 students. They collected 54,561 pain points and tagged 229 unique ones.
Some pain points are already being addressed as a result of the module, says Dhargalkar. For example, a student has invented a software patch for mobile phones that magnifies fonts for senior citizens. Another has thought up an insurance product to cover unborn children, which some insurers are considering.”
Social media and new technologies are enabling customer insights to be developed in ever faster more efficient ways. Many leading companies have quickly switched on to similar methods for gaining insight more to come next post…..