October 5, 2007

Nice new phrase — Voice of the Market

Michelle DeHaaff, Attensity’s VP of Marketing, just introduced me to a nice phrase — Voice of the Market, obviously related to Voice of the Customer. As Michelle put it:

We’ve also expanded into what we call Voice of the Market data – providing a combination of analysis on external and internal data

– this is how we’ve heard our customers put it:

*Customer feedback comes in many forms……when customers don’t know you are listening (blogs, public web forums) it is important to hear what they say.

*When customers purposely tell you something (via emails, in surveys, captured in customer service notes) it is not only important, but expected….

The first of those would be Voice of the Market, while the second would be Voice of the Customer.


2 Responses to “Nice new phrase — Voice of the Market”

  1. Text Technologies»Blog Archive » Text mining applications as per Attensity and Clarabridge on October 5th, 2007 11:38 pm

    […] allied with Voice of the Customer, and also hot, is Voice of the Market and/or more direct competitive […]

  2. Seth Grimes on November 20th, 2007 7:36 am

    Curt, I came across this entry while writing a VOTC article for my BI Network text analytics channel. I see Voice of the Market a bit differently. The easiest way to explain is by stating that markets are collections of customers and prospects. VOTC focuses individual customers (and perhaps classes of customers, a.k.a. segments), while VOTM takes an aggregate look at larger groupings. That is, VOTM is about collective rather than individual voices.

    In terms of outcomes, VOTC might predict a particular purchase or a cancellation while VOTM would look at larger predictive models and trends. VOTC would use the communications and records generated in one individual’s transactions while VOTM would aggregate individuals’ communications and records and also tap those non-transactional, non-operational sources.

    As I see it, VOTM is essentially Voice of the Collective Customer.

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