Companies with the best-in-class Voice of the Customer (VoC) programs achieve 10 times higher YOY increase in revenue compared to other firms. Furthermore, they retain 55% more customers, experience an average drop of 23% in YOY customer service expenses, and boast employee engagement rates that are 292% higher.
So, if your Voice of Customer isn’t delivering noteworthy results, then it’s time to take a hard look at what’s going wrong.
Making your VOC program best-in-class isn’t simple, but there are certain things that can be detrimental to it. Things you should ideally avoid doing. So, we decided to make a list of the 5 main things that can sabotage your Voice of Customer program.
https://customerthink.com/5-things-that-can-sabotage-your-voice-of-customer-program/
Customer-centricity is integral to culture, a precursor to strategy and essential for sustained customer growth and retention. However, companies don’t get to decide how customer-centric they are. That’s decided by their customers.
For companies to understand, manage and profit from customer-centricity, they must implement an objective scoring system, create a performance baseline, and report results to know when customer strategies are working or course corrections are needed.
http://customerthink.com/how-to-measure-customer-centricity/
We have the technology to listen to customers, but we're still not getting customer experience right. According to the State of Customer Experience 2017 report from business process services company Conduent, brands fail to provide 80 percent of customers with first-step resolutions. Further, 75 percent don’t provide enough support to encourage successful self-help.
https://www.cmswire.com/customer-experience/10-common-voice-of-the-customer-mistakes/
Customer evaluations are one of the most important and effective tools a company can use to build long-term relationships with their clients and create a sense of brand loyalty. Doing the evaluation creates a mental investment in the company on the part of the client, and the contents of the evaluation can play a significant role in shaping the client’s image of the company moving forward.
Effectively deploying evaluations is easier said than done, however, and if you’re not careful they can be totally ineffective or even backfire and push customers away. You’ve got to put serious thought into the content of the evaluation and the way you’ll deploy it. And then, when it’s all said and done, you’ve got to understand and take the results seriously as well.
https://customerthink.com/the-tricky-but-crucial-game-of-customer-evaluations/
CX professionals may not like to admit it, but one of the benefits of a low customer satisfaction score is plenty of room for improvement and potential easy wins. But what do you do if your customer satisfaction is already high?
For Shaun Wilton, Deb Heaphy and the rest of the CX team at Carsales.com, being at the top of their game is no reason to rest on their laurels. Working with technology from Zendesk, the team has dug deeper into customer insights to create a voice-of-customer (VoC) approach that seeks to deliver the best outcome for customers in all instants.
https://www.cmo.com.au/article/634161/how-carsales-lifted-its-cx-game-through-fresh-voice-customer-program/
Customer engagement and customer experience (CX) are too often used as buzzwords without a company making a true effort to shape their strategy and the way they do business around the customer. Moreover, companies feel that simply installing a technology product will be a silver bullet to providing better customer engagement. This shortsightedness creates an unsustainable environment that gives customers the sense of a disjointed company and employees left confused on how they can provide the best experience for their customers.
https://www.cmswire.com/customer-experience/9-challenges-to-successful-voice-of-the-customer-strategies/
"New research methods are constantly coming to the forefront. Every industry is inundated with the ‘next generation’ approach that will revolutionize their industry.
At iPerceptions, we have seen this time and again in the Voice of the Customer (VoC) space. The pre-post methodology, asking visitors on arrival to your site for feedback at the end of their visit, was a turning point in collecting continuous feedback from your visitors."
https://www.iperceptions.com/blog/voice-of-the-customer-methodologies/
So it turns out that the voice of your customer is pretty darn important. Gartner found that 95 percent of companies regularly listen to their customer’s feedback, and yet rather worryingly, Gartner’s research also concluded that only 29 percent of firms with VOC programs in place incorporate VOC data into their decision-making processes, while nearly three-quarters of brands don’t consider their VOC programs to be very effective at driving actions. In other words, the benefits of VOC data collection are clear and well received — but brands are struggling to make their VOC programs impactful.
https://www.cmswire.com/customer-experience/the-step-by-step-guide-to-a-successful-voice-of-the-customer-program/
While on the surface, a customer-first culture seems like the most obvious way to drive business growth, it usually backfires. Most of these initiatives result in employees feeling like their ideas and feedback are not valued, even if their ideas and feedback are directly from the customers they work with every day.
To create better customer engagement and the related revenue you desire, put your employees first. Employees often observe customer needs that are not necessarily voiced, and without them, you will completely miss out on opportunities to improve your business.
https://www.forbes.com/sites/forbescoachescouncil/2018/03/28/are-your-customer-growth-initiatives-missing-a-critical-component/#726f0b0e1a71/
Head of digital and customer marketing talks about the marketing technology transformation she's led and how executive buy-in and cultural change was achieved.
https://www.cmo.com.au/article/635405/how-village-roadshow-brought-voice-customer-into-heart-business/
