Problem: I recently took a flight with Delta. As we touched the ground and got ready to de-plane, the flight attendant said “in the next few days you’ll receive a request for feedback on this flight. Please submit it!”
And sure enough, just a few days later I got this email:
Is there a better way of doing real-time, dynamic feedback? Could Delta somehow take advantage of peer pressure or in-the-moment action to get higher response rates? What data is being lost when you capture feedback only with text and numbers?
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Solution: This business would pioneer a new movement of voice memo product feedback. It would collect data from consumers entirely via audio (e.g. Amazon Echo, Voice Memos, or Phone Calls) and use AI to analyze things such as sentiment, tone, emotion, and more to give businesses more granular insights into their business’ performance. The business could even branch into all types of voice feedback, not necessarily real-time voice feedback.
One company already in this space is Telbee. When they launched in July 2020, their product was instantly a #1 hit on ProductHunt. As their founder described in that press release,
"Moving forward, we want businesses to be able to enhance their relationships with their customers, boost engagement and improve accessibility by combining the convenience of instant messaging with the personal touch of a phone call - because, fundamentally, we believe that when people talk, good things happen."
- Nico Phair, CEO and Founder of telbee
While it’s unclear how well telbee has been doing (there hasn’t been any fundraising updates), the global feedback management software market was valued at $8.8 billion in 2021, and is projected to reach $28.7 billion by 2031, growing at a CAGR of 12.9% from 2022 to 2031 (source: allied market research).
Monetization: Subscription or per-use sales to corporations.
Contributed by: Michael Bervell (Billion Dollar Startup Ideas)