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Many companies throughout the UK understand the real business benefits that can be gained from listening to and involving customers. Here are just two:
Innocent drinks is a London-based producer of bottled fruit smoothies. Every bottle sold by the company carries a friendly message inviting customers to get in touch - with complaints, ideas or even if they are just bored. And many do. So Innocent gets lots of feedback about its products, free insights into consumers' needs, and loads of great new recipe suggestions.
The results: By engaging with its customers - 40,000 turned up at the company's new music festival, Fruitstock, in Regent's Park in 2003 - Innocent has grown its market share from 14% to over 30% in one year. In the same period, its number of outlets has grown by 265% and brand awareness is up by 47%, to stand at 50% nationally. Most significantly, 100% of its customers now rate its drinks as 'good quality', while 93% would recommend Innocent to a friend.
Betfair is a UK-based online betting exchange established in 2000. The exchange is a trading platform which allows customers to bet at prices set by themselves, rather than having to accept those of a traditional bookmaker.
Now they can place bets during a sporting event and even create bets and odds of their own. The company also seeks to build a reputation for integrity - considering the needs of vulnerable consumers.
The results: Betfair has grown from two people to over 300 in three years. It has created a new market that other companies are now following. It is the leading on-line betting exchange and has begun to apply the model in overseas markets. It is the winner of a Queen's Award. |