Voice of the Customer (VoC) solutions are essential in empowering companies to understand and respond to customer feedback. Within a Net Promoter System®, a company’s ultimate goal is to improve their customer experience and client retention. Using Voice of the Customer solutions companies can do exactly that.
Voice of the Customer solutions allow organizations to intimately listen into the wants, needs, and reactions of their customers, and then to respond by creating better products and delivering better services.
What Defines a Successful Voice of the Customer Program?
What are some realistic expectations for a return on investment in smart and strategic Voice of the Customer tools?
- A happier, more engaged customer base
- More promoters; fewer detractors
- A path to loyalty for every customer
- An increase in positive product reviews
- Maximization of referral, upsell, and cross-sell opportunities
- An increase in customer retention rates
- A decrease in churn and brand abandonment
- An increase in positive customer experience interactions
Voice of the Customer tools also benefit from being unique in that they offer an outside-in perspective on customer experience. They make it possible to:
- Gain a full understanding of the customer journey
- Evaluate customer expectations, preferences, and aversions
- Identify and act on opportunities to improve on the customer experience
- Gauge the success of customer experience strategies
There are different vehicles that can be used to obtain Voice of the Customer via various feedback methods.
Voice of the Customer Feedback Methods
A Voice of the Customer solution begins by gathering and evaluating three different types of data that together provide a comprehensive view of the customer experience.
There are three forms of feedback used with a Voice of the Customer solution:
- Direct feedback, which is gathered from touchpoints where the customer expects the company to be listening to feedback and may also expect a response from the company. This feedback takes the form of email surveys, text/SMS surveys, iPad/kiosk-based surveys, POS receipt surveys, QR code surveys, direct phone calls, and market research.
- Indirect feedback, which is collected when the customer is speaking about the company but is not speaking directly to the company and does not expect a response. Examples of this type of feedback include website reviews and reactions on social networking websites such as Facebook, LinkedIn, and Twitter.
- Inferred feedback, which is collected from historical Voice of the Customer data and interpreted using predictive methods of analysis. This feedback relies on information such as website clickstream data, customer purchase history, and operational and transactional data.
You can learn more about measuring customer feedback in a Voice of Customer program in our Monetized Net Promoter eBook.
Creating Actionable Insight with Voice of the Customer
Once you’ve collected feedback from customers, the next step in a Voice of the Customer program is converting any data collected into actionable insights that can be used to directly affect and alter customer experience strategies. Ultimately, this helps organizations rescue, retain, and grow their customer base.
Using real-time dashboards, alerts, and customer journey maps, companies can close the loop with their customer base and identify areas for improvement.
Without Voice of the Customer tools, any attempts to interpret customer experience may be less practically useful. Voice of the Customer tools are what allow the data collected to be converted into actionable insights that can benefit a company’s customer experience strategy and bottom line.
It is important to remember that a major key to the success of any Voice of the Customer program is that an organization always listens to the voice of the customer in terms of an open-ended conversation. Customer satisfaction is a fundamental driver of business success. It is the responsibility of an organization to make certain that their customers always feel heard and acknowledged, and to act on feedback to close the loop with customers. Choosing to make a Voice of the Customer program a valued aspect of your business strategy shows that you place value in listening to its customers; a best practice of every industry leader.
You can learn more about acting on customer insights in a Voice of Customer program in the second eBook of our Monetized Net Promoter series.
CustomerGauge for Voice of the Customer
CustomerGauge can deliver accessible, actionable customer experience insights for your company through our Voice of the Customer offerings. Let us help you discover how a Voice of the Customer program can best work for you by clicking the button below.