What Can CEO's Do To Raise Their Buyer Insight IQ?

Updated: October 17, 2010

Addressing problems as well as formulating future growth strategies around buyer experience requires a new school of thought around the qualitative aspects of buyer insights. While quantitative buyer insight has its important role to serve, it cannot be utilized solely at the expense of qualitative buyer insight. Executives, to make effective informed decisions when it comes to developing an overall customer strategy as well as leading the organization in Buyer Experience Design, need to articulate a full story about buyers and the goals buyers are attempting to accomplish. Ignoring the qualitative can have severe consequences. Qualitative buyer insight can also help prevent consequences and get on top of what may be showing up in the numbers but no story exists to put meaning behind them. Take FedEx as an example. They knew, via quantitative analysis, that UPS was winning a battle at a crucial moment in the day when shipments were batched and sent out by distribution firms. Gaining qualitative buyer insight through investigation, they discovered that it really came down to the ease of sorting the freight, ground, and air shipments. They quickly addressed this issue and got back on the shipper's radar screen at that crucial moment in the day.

What can executives do today to raise their Buyer Insight IQ?

  • Imbed qualitative buyer insight into customer strategy and buyer experience innovation
  • Distinguish between numbers that merely inform on what is happening versus providing insight into "why" - realize that the "why" may be found in qualitative buyer insight
  • Incorporate qualitative buyer insight gathering as a core element of buyer experience strategy that is repeated and refreshed often
  • Learn the art of storytelling and make it a part of the organization's culture. While business acumen has always been thought of in terms of the quantitative and the financials, leaders of tomorrow will need to have strong attributes and qualitative insight acumen in making buyer experience stories relevant to the organization.
  • Commit and invest in qualitative buyer insight. Realize that at the start, this in-house capacity may not exist. Think long-term by bringing in outside help while concurrently building in-house competency.
Featured Research
  • What You Need to Know About VoIP Security

    No matter the industry or area of expertise, a strong VoIP system is the perfect tool for any business looking to take both its internal and external communication to the next level. more

  • Are You Using These 5 VoIP Features?

    In large part, the success of your business depends on the strength and reliability of your team’s many communication networks—this includes your Voice over Internet Protocol system (VoIP). more

  • Video Conferencing Best Practices

    Video conferencing is quickly becoming one of the most important communication channels for both small and big businesses. As more businesses turn to this technology, expectations about the experience are also rising. It’s not enough to just offer video conferencing as a communication method. You also need to meet minimum audio and visual standards, and there’s even proper etiquette to consider. more

  • 10 Contact Center Myths Busted

    For most forward-thinking companies, the use of contact center software is on the rise. That said, in spite of contact center software’s sudden rise in popularity, a number of myths have begun to take shape. more

  • Go Mobile and Increase Employee Productivity

    The Bring Your Own Device (BYOD) and Voice over Internet Protocol (VoIP) tech trends now allow people to work whenever, wherever, and however they want—mobility makes it happen. more