The voice of the customer, or VoC, is arguably one of the most critical elements of a successful business strategy. After all, your customers are your source of revenue, so listening to them should be a top priority.
In more recent years, however, the need to understand the voice of the customer has become even more imperative to hone in on. With new technologies and the increase in customer expectations, voice of customer strategies have emerged as a proven tactic to increase satisfaction and boost the bottom line. In fact, just a few short years ago Gartner reported that best-in-class VoC users enjoy an almost 10-times-greater year-over-year increase in annual company revenue compared to all others. Not to mention, companies that actively engage in a voice of customer program, spend 25% less on customer retention than those that dont.
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