The successful ones use a Voice of the Customer (VoC) analytics program to understand their customers.
They pay close attention to what their customers are saying. They know that business metrics like revenue and churn tell only a part of the story. They understand that to know why customers make certain decisions, it's critical to understand the customer's perspective.
In a society where consumers are more invested in the products and services that they use, it’s clear that giving your customers a voice is key for surviving in fast-paced markets and keeping a competitive advantage.
Following the standards, Voice of Customer research has three main purposes:
By knowing the VOC, the organization will be able to benefit in several ways.
Unintended miscommunication between an organization and its customers is a common reason why organizations lose customers and their business. It’s important for an organization’s wellbeing and possible survival to understand the VOC and customer requirements.
The secret to retaining customers isn’t a price or product.
It’s the customer experience (CX) that your company offers.
That’s why 86% of customers are willing to pay more for a better customer experience!
In fact, companies are beginning to consider CX as a far greater opportunity than content, mobile or personalization.
The reason for this is simple:
Customer experience encompasses the entire buyer’s journey and beyond.
It starts from when a prospect hears about your company and continues with every interaction with your company until they eventually stop being a customer - the full end-to-end customer journey.
Moreover, customer experience is based entirely on your buyer’s expectations.
It’s what they wanted, and how you’ve delivered on it that forms a customer’s perception of a good or bad experience.
Collecting customer feedback helps you understand your customer expectations, and identify ways your company could deliver on those.
So, with that in mind, let’s take a look at different ways to collect customer feedback.
Collecting feedback (providing you and your marketing team comply with GDPR) is as simple as asking your customers questions to uncover their expectations. And there are many different methods you can use to do this. To help you get started, here are three of the most common ways to collect customer feedback.
Surveys offer the most scalable way to gather structured customer feedback.
Depending on your goals you can target any stage in the buying cycle from the first contact to a purchase.
You can use surveys for:
Before you start writing questions in your survey, think about the end-goal and what you are trying to achieve with the survey results.
Social media is a great resource for collecting VOC data online.
Your customer’s posts describing positive interactions or sharing complaints with your company provide a great insight into their expectations, and how you’re currently delivering on those.
Social listening is more than Facebook, LinkedIn and Twitter. You can also collect feedback from online forums, blog comments, and product review sites - anywhere your customers can express themselves online.
Speaking with customers can be intimidating, difficult, and certainly, time-consuming.
But at the same time, interacting directly with someone may help you uncover their particular experience, and not only hear about it but also assess it through other communication, like body language.
Voice of Customer is helpful, as it allows you to understand how closely you’re matching your customers’ expectations with the service you’re offering. If the gap between expectations and experience is wide, then you know that you have some work to do.
It’s also helpful because it allows you to shift your business culture towards a more customer-centric model. So many companies out there say they put their customers first; they say their customers are their “priority.” But one thing is to say these things, another is to act upon them. A solid VoC methodology allows you to move from words to actions, by really putting your customers first.
Here are some of the things a VoC methodology can help you with:
Changing the way you do business, case by case.
Detect which signups are most likely to buy. Sell more with less effort.
Automatically surface product qualified leads.
Prioritize PQLs call lists and engage with quick actions.
Add tasks and full PQL context to existing CRM and other engagement tools.
Automated sales playbooks and collaborative inbox.
Onboard. Monitor. Get expansion signals. Reduce churn, proactively.
Automatically detect churn & expansion candidates.
Accelerate onboarding and product adoption.
Align activities around 360° customer view, with health and onboarding scores.
Automated CS playbooks and collaborative inbox.
Build revenue workflows, based on how people use your product.
Use machine learning to uncover new sales opps.
Add slow accounts to nurturing campaigns.
Optimize engagement playbooks for maximum conversion.
Leverage any data without needing engineering.
See which impact your product features have on revenue and churn.
Analyse feature importance, usage and impact.
Build key product metrics without SQL, nor coding.
Easily create customer segments based on any product interaction.
Comply to GDPR and CCPA.
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