The power of conversation: five reasons to do in-depth customer interviews
In modern business, data and statistics often take centre stage, but there's an often-overlooked source of insight – the in-depth customer interview. This technique focuses on human to human interactions, with an emphasis on active listening and open-ended discussions. Unlike a survey with fixed questions, interviews can be adapted on the fly to drill down on specific responses. The qualitative approach unveils subtle nuances of customer experiences and preferences, adding the "why" behind the numbers.
Having recently conducted a series of interviews for customer value proposition development, it made me remember just how powerful a simple conversation can be. Here are my top 5 reasons you should be leveraging this age old research tool.
Cost-Effective Insights: In-depth customer interviews are remarkably cost-effective. They don't require hefty budgets or extensive resources because they can be easily recruited, done in person, online or over the phone and take as little as 15 minutes. Even a modest number, such as 5 to 10 interviews (depending on the number of customer segments) can provide a wealth of insights that might have otherwise gone unnoticed.
Crafting Customer Value Propositions: Whether for new or established brands, in depth interviews are a goldmine for crafting customer value propositions that prioritize core needs over product features. When working with B2B clients, rather than jumping straight into their brand interactions, I begin by understanding their company, roles, and daily goals. Recently it became evident that one client's customers, across various industries, shared a common need for efficiency to simplify their tasks. While the ultimate aim was "business growth" (a common position in their industry), their primary desire was to make their job more manageable. This became a core part of the value propositions that guided brand development, product roadmaps and sales enablement
Building Product Roadmaps: A successful product hinges on its ability to align with customer needs. In-depth customer interviews can lead to discoveries that fuel product improvements that truly resonate with your audience - because the requests have come from them, and not an internal hypothesis of what they might want. Additionally, with every feedback loop, you can iteratively fine-tune your product or service, ensuring it evolves to meet changing customer needs.
Identifying Churn and Conversion Factors: Understanding why customers leave or leads don't convert is essential for business growth. Customers might reveal hidden pain points, misunderstandings (which are highly common), or unmet expectations, guiding you in addressing these issues. Additionally, the simple process of seeking feedback and the customer feeling heard and valued can create deeper connections and longer life time value.
Opportunity for further conversation: While the primary goal of customer interviews is gathering insights, they can also serve as potential leads for further customer growth. I have had instances where the customer doesn’t know who their Account Manager is or simply hasn’t got around to reaching out to ask how they can increase their number of users. Following up after an interview to say thank you for their time is both respectful and good business sense. However, it's crucial to maintain transparency and avoid disguising sales prospecting as customer feedback. Always respect the integrity of the interview process.
In a world driven by data, never underestimate the power of meaningful conversations. While often incentivised with a small thank you gift, in-depth customer interviews are a fair exchange of value where companies can understand client motivations and unearth the reasons behind churn or low lead conversion and customers are presented with the opportunity to shape the service they receive and request product enhancements. They are a cost-effective, yet invaluable, tool that every business should consider incorporating into its strategy. So what are you waiting for? Harness the power of conversation and watch your business flourish.
