Voice of the Customer (VoC) programs have become a strategic asset for the most forward thinking and customer-centric CEOs, CMOs and customer experience leaders. In fact, in the most recent Best Practices of the Best Marketers Research Report, Chief Marketing Officers whose performance ranked them in the top quartile used VoC programs a whopping 48% more often than their lower performing peers.
Its been my experience that most companies think they know what their customers wantand more often than not they are either partially correct or incomplete. Either scenario results with a cascading effect that degrades product R&D, marketing communications, sales effectiveness, services delivery and customer experience (CX) objectives. The negative financial impact incurred in any one of these areas is a significant hidden loss than goes unrecognized by most business leaders.
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