In business, we often talk about addressing customer “pain-points” to maximize profits. But how can you know what pain points are specific to your customer base? Surveys can help you get a feel for the general trends, but even they can miss out on crucial information. Likewise, they don’t allow you to probe further into what your customers like and don’t like. AnswerOn has generated a way to do just that. A Virtual Focus Group, or VFG, is a way to get to the bottom of customer or employee sentiment.
For subscriber-based companies, understanding customer pain-points is especially crucial; acquisition and retention represent the bread and butter of your bottom-line. Unlike other consumer industries, subscriber-based businesses rely on repeat customers, and cultivating a loyal base can help keep profits consistent and trending upward. By leveraging a custom–designed VFG, you can discover how to create and maintain your target consumers.
So, how does a VFG work? AnswerOn will partner with your team and compile a series of industry-tested questions about your company and its services. These questions that will be posed for customer feedback can include inquiring about how your service compares to other equivalent options on the market or what types of perks would incentivize a customer to stay with your company. This is not a survey, as surveys are static and unchanging. The key part of a VFG is real-time moderation. While your customer fills out answers, members of our team can respond and ask for more detailed responses or explanations. At the end of the VFG, we compile main takeaways based on the quantitative and qualitative data collected. In this way you can get a comprehensive view of your consumers’ sentiments.
Maybe you think you know your customers, but the findings of a VFG might surprise you. Maybe you aren’t worried about your customers, but rather your employees? We also conduct a similar process for employers to learn about employee pain-points. If you want to learn more about how a VFG can help your company or how the process works, reach out to our team today.