Voice of the Customer (VOC) is a term that is used to describe the process of capturing the customer’s experiences, expectations, and preferences. It is a process that provides a detailed set of the customers’ wants and needs and often includes both qualitative and quantitative research data. In short, you have to collect feedback on your customer’s experience with your products and services that were offered.
There are a number of ways to gather this information, for example, from focus groups, ethnographic techniques, etc. Although, all these methods essentially rely on some form of an interview to gather the information. In more recent years, with the advancement of technology, Voice of the Customer can be carried out on a much larger scale through the emerging online surveys. Once the customer feedback is collected, this information can then be shared within the organization to help them make informed decisions.
Voice of the Customer is essential in a business as customer experience becomes one of the main tools in gaining a competitive advantage over others. It allows you to better understand your customers so that you can make more informed and precise decisions that align with the needs of your customers.
Voice of the Customer programs have been proven to help companies retain their customers, deliver improved service, and understand customer experience better in order to drive change.
Voice of Customer program has many benefits including:
Collecting feedback from your customers can help you improve your products and services. If you can improve your service by taking action from your feedback received, then your customers are more likely to return to you in the future. They may also be more likely to refer you to their friends or family.
Customer expectations are changing every time there is something new, and you are not just being compared to your direct competitors but to experiences customers are having. By listening to your customers, you can get a better understanding of what they demand and where you can improve your product to serve their needs.
Understanding how customers position your brand can help you maintain a positive reputation in the market and capturing their voice directly makes it less likely that they are going to engage in a discussion with you on social platforms.
If you are going to launch a new product or service then you can reduce risk by getting a better understanding of what the customer wants before launching the product or service.
Voice of the Customer enables you to improve the customer experience (CX) which can reduce customer churn and improve your ability to attract new customers, also at times retaining lost customers.
An effective Voice of the Customer analytics program is mainly focused on answering questions.
Before you analyze anything, clearly identify the questions you want to answer.
The data you collect should relate to your question.
For example, a brand-focused question might demand a lot of tweets that mention your company.
Alternatively, all product-orientated questions should lead you to gather a bundle of customer satisfaction survey responses by the customers.
Some common data sources for Voice of the Customer analytics programs are:
By comparing complex trends over time, a survey analysis tool won’t be able to tell you enough.
If the goal is to apply the insights drawn from social media comments as a proxy for customer survey responses, a flexible platform that offers rich reporting will be needed.
To get the best return on your investment, choose a solution provider who has complete experience solving problems.
In data analytics for Voice of Customer, the reports you make should be focused on answering your initial questions asked by the customers.
If you’ve chosen the right tool for your Voice of the Customer analytics program, it will be fairly easy to identify the right reports.
The insights received will be self-evident. You will also find answers to questions you didn’t think of asking.
Unexpected insights, drawn from real customer reviews, are a great demonstration of how a data-driven Voice of the Customer analytics program can show.
By collecting, combining, and comparing reports into dashboards, you can uncover the insights you need to start focusing on in order to attain better customer experiences.
Today’s market leaders are shifting their listening and response mechanisms faster as Voice of the Customer programs offer a huge opportunity to increase sales and drive loyalty. There are a number of ways in which you can evolve your Voice of the Customer strategy to gain the maximum impact within your business, according to the size of the company, the goals, and the customers’ needs.
Collecting your data is one thing but it is very important to take action on the information you gathered. Go beyond metrics and try to understand why your customer ratings are a certain way.
The information you collect should also be shared with your organization and you should always try to distribute specific feedback to the relevant departments. This encourages your organization to take responsibility as a whole and enables employees and stakeholders to see a more clear picture.
Your Voice of the Customer program will allow you to identify unhappy customers, so this gives you an opportunity to deal with the issues in real-time. By showing the customer that you are listening and dealing with any concerns they have, you increase their chances of correcting and improving their experience and turning them into potential promoters and influencers.
Connect your employee and customer experiences to give you a clear picture of what is happening in your organization and why. Employee feedback can help provide context for customer experiences that help identify areas of processes or technology hurdles that are hindering the experience delivered to the customers.
A company is nothing without its customers and the only way to deliver a fantastic customer experience is to understand how your customers feel about you and what their likes and dislikes are about their experiences with the brand.
A Voice of the Customer program allows the company to collect this feedback and take required actions that can directly improve the businesses performance.
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