What Is The Voice Of The Customer?
Put simply, the Voice of the Customer is your customers’ feedback. It is the methods that customers can use to share their thoughts and opinions on their experiences and expectations of your business.
Businesses can implement various VoC programs that work hard to understand the needs, wants, expectations and understandings of the customer. From there, it becomes easier to better understand what your customers love and hate and how to make the improvements that will make the difference to your clients.
You’ve got to start with the customer experience and work back toward the technology – not the other way around.Steve Jobs
VoC is no longer an afterthought of a business; it is becoming a fundamental necessity for the brands that want to grow and improve customer loyalty. Customers love it too. With so many communication channels now available, it gives people a voice and chance to engage with brands directly. For businesses, this means it should be easier to gain feedback and have the data for complex decision-making. However, this is only the case if your brand is really listening to what your customers have to say.
Why You Should Be Listening
Research has shown that businesses that deploy VoC techniques have 55% higher client retention rates. Furthermore, Voice of the Customer systems can actually cut customer service costs by almost a quarter. This is combined with the fact that improving the customer experience through VoC helps to increase revenue too.
Are You Listening Carefully?
Does your business;
- Fully understand customer requirements?
- Make critical decisions based on the needs of the customer?
- Consistently successfully launch new products and services?
- Have a rapidly improving brand reputation?
- Measurably reduce negative feedback and poor customer experiences?
- See improving levels of customer retention?
- Ensures that branding is the perfect market fit?
If you’ve answered no to any of the above questions, then it may be time to refocus your listening strategy and deploy more effective Voice of the Customer strategies.
How To Improve Your VoC
A Voice of the Customer programme relies on more than simply reading comments on social media or sending out surveys. It is a multi-pronged approach that requires the right tools and strategies. From segmenting your customers to data collection, plotting customer behaviour to mapping customer journeys, there are lots of aspects to consider to ensure that your listening is at its most effective.
This may seem daunting and complicated, but spending time to get it right and ensuring you really are always putting the customer first will mean your business will continue to reap the rewards in the long run.
I have a set of follow up posts I’ll publish soon that go into each of these areas in more detail. I will also be releasing a few chapters of my upcoming book on VoC for free in order to assist those that need it now. If you would like to know when these are out jump on my Founders of Good email list as I will be sharing there.
In the meantime if you’d like any assistance I’m here to help. Just drop me a message on here or on LinkedIn.