How you listen matters. Unfortunately, some might be overlooking this particular detail of their Voice of the Customer (VoC) programs, which could end up impacting just how successful their program is in providing the insights they need to improve their Customer Experience (CX).
In a world where CX is becoming increasingly scrutinized, the importance of collecting customer feedback to fuel your Customer Experience Management (CEM) efforts cannot be understated. It is a crucial first step for any organization wanting to inject more customer-centricity in their business decisions.
However, there is an aspect of VoC that organizations may sometimes gloss over, despite its potential to have a significant impact on the quality of the feedback they get in return: the method you use to engage your customers for their feedback.
https://www.iperceptions.com/blog/aspect-of-voc-you-should-not-overlook/
Looking at customer experience (CX) and churn in the SaaS environment from a high level, there’s one theme that stands out from the mix: The fact that we live in what’s called a “switching economy.” The term, coined by economists, describes a current trend impacting switching brands because of dissatisfaction with their experience. It can be a major driver of customer churn—and it’s already creating an incredible economic deficit in the US.
Early reports indicate that more than $1.6 trillion in revenue is up for grabs as “always on” consumers look for brands mastering CX via various channels and touchpoints. What’s more: since 2010, Accenture data shows the switching economy has increased more than 29%—and only 11% of U.S. customers strongly agree that companies are effectively converging their omnichannel experiences. So, what’s driving the switching economy? And how can businesses win back customer loyalty?
https://www.business2community.com/strategy/acing-omnichannel-support-in-saas-02098386/
Let’s just be honest. C-level leaders don’t take a lot of web surveys.
But that doesn’t mean that we don’t NEED their feedback. It also doesn’t mean they don’t WANT to share feedback. Without it, sometimes we’re looking at a very incomplete picture of the customer experience.
This is particularly true in certain types of industries and companies where the business hinges on high-ranking relationships, long-term contracts and large dollar value transactions. In these cases, a unique approach is needed to gather feedback from top decision makers in your largest accounts.
http://customerthink.com/execs-dont-take-surveys/
Our members tell us what we are good at and where we need to get better. We use feedback from customer satisfaction surveys and industry measurements such as J.D. Power. This information is pure gold because you can dissect it to discover where you need to improve, says David Bano, chief claims officer at Nationwide. It’s like a math equation where you remove pieces to make customer interactions quicker and more convenient.
It’s important to listen to positive and negative feedback equally.
http://www.sbnonline.com/article/capture-customer-voice-generate-new-services/
Research suggests a 5 percent increase in customer retention will boost profits by 20-100 percent across a wide range of industries, which helps to explain why businesses both big and small are so focused on measuring customer loyalty and brand advocacy.
A common method is to simply phone customers after they bought a product or service to ask how satisfied they are. More business-savvy entrepreneurs will frame the question differently, asking customers how likely they are to recommend the brand to others. This produces what’s known as NPS, or Net Promoter Score.
But such bold tactics can be counterproductive and produce inaccurate results - phoning customers can damage the brand, surveys can be misleading and there are more reliable ways for fledgling businesses to track customer loyalty.
https://www.wamda.com/2018/07/measure-loyalty-alienating-customers/
When you think of Voice of Customer (VOC) Feedback, it’s exactly what it sounds like.
Voice of Customer Feedback is direct and clear feedback on your product or service straight from the mouth of the consumer/customer.
Whether you achieve this data through market research, surveys, or focus groups, it will provide you a competitive stance on your product or services, or what deficiencies your product or service has in the current market.
https://ledgeviewpartners.com/blog/how-to-use-voice-of-customer-voc-feedback-to-improve-your-customer-service-team/
Good news for all you WordPress lovers out there! Mopinion now offers a WordPress plugin that enables WordPress-based websites to easily run Mopinion software on their site and start capturing customer feedback for free.
In case you’re not yet familiar, WordPress is one of the most popular content management systems available with nearly 75 million websites. Now, any one of those 75 million sites can download the Mopinion plugin and have feedback forms running on their website in a matter of seconds.
https://mopinion.com/mopinion-offers-feedback-plugin-for-wordpress/
Most companies have recognized the value of investing in knowledge management (or KM), especially as part of their customer service strategy. It provides an always-available and ever-expanding repository of solutions accessible to customers and agents alike. It also reduces the impact of “information loss” for companies because, though staffing may change and skilled agents move on, solutions are preserved.
There is no argument that KM offers many benefits, but it’s by no means a silver bullet. Too often, companies make these mistakes:
https://www.business2community.com/customer-experience/reorient-knowledge-to-drive-greater-customer-satisfaction-02104742/
For customers, conversations with brands are never more than a click away. Social media is opening up more direct channels for communication between brands and consumers than ever before. And savvy brands know to use platforms like Facebook and Instagram as stronger touchpoints to engage consumers. You might have seen this play out with airline brand representatives alleviating concerns with disgruntled flyers online in real-time, or famous fast food brands exchanging cheeky tweets with critics. While social media is a powerful communication tool, it doesn’t replace a Voice of the Customer (VoC) solution when it comes to gaining actionable customer feedback. Without a solid VoC strategy in place, social media can easily become a place where your brand’s dirty laundry is aired via public conversations, rather than a real driver of positive change.
Here’s how you can use a strong VoC strategy to work in tandem with social to better understand how customers feel about your brand:
https://www.targetmarketingmag.com/article/social-media-cant-be-only-voc-strategy/
While Voice of the Customer (VoC) programmes are now commonplace, there is still a big range in the maturity and rigour of these projects within enterprises.
For many organisations, the temptation is to tackle customer feedback by simply blitzing it - collecting lots of data from lots of customers, gathering as much feedback as possible. However, unless there are concrete plans about what to actually do with the data being collected, then this is futile – it’s just listening for the sake of listening, rather than listening for the sake of improving the experience. And this is common.
https://www.mycustomer.com/experience/voice-of-the-customer/the-nine-steps-to-designing-a-voice-of-the-customer-programme/
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