Read any consumer facing Chairman or CEO annual report and you'll see the phrases: 'listening to customers' 'responding to and serving customers needs'..... or similar.
I once asked Andy Higginson, CFO of Tesco over a drink what the real driver of Tesco's success was. 'We genuinely and obsessively listen to customers and give them what they want'.
The Tesco listening takes lots of forms. Market research - sure. Polling in-store and out-of-store. Focus Groups. ...and of course the biggest voice of all, the ClubCard.
IMI - Instant Market Intelligence - was conceived of by Rob Keve back in 2004. TAG was an early investor and close friend of the business. My son-in-law, Jonathan Morris joined the business in 2005 and it has narrowed and concentrated its focus on a superb product (branded Fizzback) which enables real-time, actionable customer feedback via digital channels.
SMS via mobile phone is particularly effective for the growing list of clients who are using the Fizzback service. This enables consumers to feedback - in real time and ‘at the point of experience’ whilst the issues are still top of mind while using the service of the provider. The data is analysed and interpreted by Fizzback and presented to the management of the company in a variety of forms via a web interface.
We are announcing, this week an investment of Euro 4m by Advent in the business. This has enabled the technology to be developed further, to grow the team and will enable Fizzback to go to market confidently.
Clients already using or trialling the service include: National Express, First Capital Connect, Bourne Leisure Group, one of the National Health Trusts and and many other major players in health, financial services and retail are in the process of signing up.
Fizzback offers a significantly improved way of brands obtaining unsolicited and valuable customer feedback. Its likely to make a big impact on those companies striving for greater customer loyalty and improved customer experience.