V/Speak

Getting feedback from your customers to improve your business is ALWAYS a good thing.  The problem – marketers often times think they know their customers better than customers know themselves.  Not true, and now that the tough economic times have hit, several prominent marketers (and even a publication like Business Week is not above getting story ideas from their readership) are understanding that consumer outreach is a necessary and relevant component of their business model. 

Two companies with vastly different products and demographics that are remarkably similar in their approach – Starbucks and Best Buy.  The tagline on the My Starbucks Idea blog is “Help shape the future of Starbucks – with your ideas“, while Best Buy’s Idea Xchange touts:

“We’re constantly looking for new ways to improve our business and are asking you to help us by sharing your own ideas, voting for ideas you like, and discussing them with the rest of the community.” 

These are great examples of two companies who understand that the very foundation of their business, the customer, is a valuable asset to them as they prepare new market offerings – both in product and services.  From my perspective, more marketers should be following their lead or face the danger of losing share to competitors that do.

David Veneski Social Media Best Buy, Community, Starbucks