Vision Critical CEO Scott Miller dropped by BNN Business Day this morning, March 12, to talk about the Canadian tech scene.
Sitting down with Frances Horodelski, Scott also shared the Vision Critical story and talked about how insight communities help hundreds of brands in their decision-making process.
For people who have never heard of Vision Critical, Scott provided a quick overview of what we do:
In the simplest form, we provide subscription to a web-based customer intelligence platform. What’s fueling our growth – and one of the reasons why Bay Street is talking so much about our business – is this revolution in the empowered customer. Every organization knows that customers are actually broadcasting their points of view about their products, their services, etc. And companies need to decide whether they are going to harness that intelligence that these customers are providing or actually be victims to it.
So Vision Critical, within that customer intelligence platform, our competitive advantage is we do that in the form of a community. It takes more than a list of your customers in order to go out and bring bring them in for a decision. They have to be engaged on an on-going basis, care about what you’re doing, and you’ve got to provide a two-way exchange. Give them information back about what you’re learning. It’s about the community and making that core of the customer intelligence platform – and that’s what we do at Vision Critical.
Scott also explained how Vision Critical’s community approach to customer engagement is different from conventional research:
Standard market research is based on this list of customers – representative samples, and what have you. But in a world of social technology and the cloud, these customers [are] so busy; they’re doing so many things. You can’t get a hold of the right customer in the right moment and engage them in the right way if you want them to be a part of the decision-marketing process.
Think about the way decisions are made in organizations. They’re made quickly, and you’ve got to be able to get precise information from just that right group of people in the right time. Conventional market research is about engaging lists. We focus more on engaged communities of customers who care and want to contribute to your business evolution.
Watch the clip on the BNN website.