It’s no secret that it costs 5 to 25x more to acquire a new customer than it does to keep a current one. It should also come as no surprise then that it’s much easier to sell to an existing customer than a new one. Marketing Metrics reports that businesses only have a 5-25% chance of selling to a new prospect, but they have a 60-70% chance of selling to a returning customer.
The inbound methodology is all about helping customers at every step of the buyer’s journey and beyond to turn happy customers into promoters. So, how do you know your customers are happy? And if they’re not, how are you handling their concerns? What else do they need that you could offer them?
Actively collecting and listening to customer feedback is a process called Voice of the Customer (VoC). VoC is about knowing how your customers perceive your company, how they feel about the products/services they've purchased, and what other needs they may have that you can address.
https://www.manobyte.com/why-you-should-start-a-voice-of-the-customer-program/
Customer experience (CX) is today’s competitive battleground, so it may come as no surprise that CX is now a strategic imperative for many contact centers.
In fact, according to a recent survey of more than 450 contact center leaders by Deloitte, CX ranked as the most important strategic initiative in the contact center—far outpacing revenue growth and cost containment. And, many contact center leaders report that they are now being held primarily accountable for improving their organizations’ overall customer experience.
Tapping into Voice of the Customer (VoC) has long been used as a method to understand where improvements to customer experience are warranted. It makes a lot of sense that if you’re seeking to improve the experience of your customers, you should ask them about where and how to do so.
http://customerthink.com/improving-cx-in-the-contact-center-the-devil-is-in-the-data/
Several major market changes have made waves throughout the retail industry in just the past few years. The proliferation of mobile devices, Amazon’s meteoric rise to the top of e-commerce, and the emergence of omnichannel strategies have all fundamentally changed how retailers compete.
Shoppers today expect browsing and purchasing to be consistent and seamless, no matter where their experiences take place. Omnichannel, especially, has transformed retail and improved what consumers consider to be a quality user experience.
While building an effective omnichannel strategy is not easy, retailers can avoid mistakes and create best-in-class omnichannel experiences by following these five lessons:
https://www.destinationcrm.com/Articles/ReadArticle.aspx?ArticleID=126962/
- What is Voice of Customer (VOC)?
- VOC data and customer experience (CX)
- How to collect and use VOC data (with examples)
https://www.superoffice.com/blog/voice-of-customer/
Sentiment analysis is widely used to supplement the analysis of text data in surveys, complaints, reviews and other customer feedback. In theory, sentiment analysis categorises opinions expressed in a piece of text just as a human might.
However, as the volume and complexity of customer data grows, growing issues with sentiment analysis are providing flawed information and stopping companies from getting the full picture from their data; key customer feedback that could drive positive business change is being missed.
For those who have used sentiment analysis it is likely that you have experienced these inaccuracies – from skewed sentiment percentages and incorrect tagging, to completely missing key business insights.
https://www.marketingtechnews.net/news/2018/aug/16/how-were-missing-mark-consumer-sentiment-analysis/
Voice of the Customer (VOC) is about more than confirming customers successfully reach their destination—it’s about knowing how they got there.
And there are now more ways than ever to get a highly detailed view of the customer journey. Collecting individual data—instead of aggregate data—not only tells you what exactly successful customers look like, but it allows you to personally engage with them. Now, you can let customers know what you’ve done with their feedback, making them feel more like a partner than a consumer.
In a webinar earlier this year, Using Voice of the Customer to Grow Your SaaS Business, we chatted with Ellie Wu of SAP Concur & PictureCS and Charlie Colquhoun of SimplyCX about some of the top emerging trends in voice of the customer initiatives. Here are three trends in the VOC space you can—and should—leverage to create an optimal customer experience.
https://useriq.com/voice-of-the-customer-trends/
We've written before about the importance of Voice of the Customer (VoC) and how valuable it is to regularly listen to customers to get their feedback on ways you can improve.
But there's another key step that comes after asking for customer feedback -- it's using that feedback to make decisions and implement changes that best serve your customers.
https://blog.hubspot.com/service/voice-of-the-customer-program/
As marketers, we can be too quick to chase innovation for innovation’s sake. Shiny, new digital platforms that have a lot of buzz about them can tempt brands in but too often they don’t deliver on the promise and become white elephants.
At Just Eat, our vision is to create the world’s greatest food community. In essence, connecting customers with the restaurants (and the food) they want around the world.
Our diverse restaurant partners, be they a local curry house, an up-and-coming cafe in Manchester or a national brand, such as KFC, are our lifeblood. Everything we do is focused on delivering on that partnership. From a marketing perspective this means we need to continually find ways to connect our customers with our restaurant partners through whatever platform the consumer wants to find them.
https://www.campaignlive.co.uk/article/why-noise-voice-chat-will-louder-brands/1490120/
For years price, product and quality were most important. Organizations didn’t even think of their customer needs. Nowadays the Voice of the Customer is more important than ever. In the previous blog we gave an introduction about what Voice of the Customer is and the importance of listening to the customer. The question is not so much why you want to use VOC for your organization, but when you start with it to improve customer focus.
https://www.cys.group/en/blog/why-is-the-voice-of-the-customer-voc-for-your-organization-more-important-than-ever/
Voice of customer (VOC) programs are becoming increasingly popular with marketers, but there are some general do’s and don’ts to follow if they're going to succeed.
CMO reached out to three industry commentators to reveal what’s hot and what’s not on their voice of customer approach and what it takes to successfully create and implement a program.
But first, let’s be clear on what a voice of customer program is comprised of. According to InMoment customer experience expert, Andrew Park, a comprehensive voice of customer programs is comprised of four distinct components: Listening (collecting data), understanding (analysing data for insights), sharing (distributing the insites across the enterprise), and taking action.
https://www.cmo.com.au/article/633504/do-don-ts-voice-customer-programs/
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