Client Case Study: Customer Research
The president of Company A was frustrated with the lack of growth in his organization and its resistance to change. Having one of the higher market shares in the industry but still relatively small with lots of room to grow, the company still relied on one channel to sell. The president was convinced that customers wanted more ways to buy their products. However, there were still some who doubted what the customers really wanted among his senior staff and all the way to the board level. He knew that if he wanted to achieve the changes he wanted, he would have to talk to the direct source to get the proof he needed: The customers.
The president of Company A asked Young & Associates to perform a survey of their past, present and future potential customers on their buying behaviors, purchases and general views of the industry. After speaking with over 1,000 companies across the U.S. from a variety of industries, Young & Associates was able to produce a statistically valid sample from Company A’s customers which identified the need for more than one contact point for the customer.
The results from the statistically valid survey shocked the sales organization and senior management. Customers were purchasing daily over the phone when it was assumed they were purchasing monthly via the sales organization. The president immediately had the company believing that change was needed and was able to lead the organization through his strategic visions. The company’s per share price has more then doubled over a three year period.
More: Customer Research.