Data-driven Voice of Customer analytics is proven to increase lifecycle value and reduce churn by delivering the insights companies need to dramatically improve brand and product experiences. There are six steps involved in building an effective VoC analytics program:
https://www.lexalytics.com/lexablog/effective-voice-of-customer-voc-analytics/
Let’s be honest – no one wants to lose customers. In fact, high customer churn rates are the absolute worst nightmare of just about every webshop owner. Interestingly enough, the reason these churn rates get so high in the first place is because these same webshop owners are unable to locate or identify the source of the problem. This is a huge mistake to be making – especially when we look at the figures. According to the book Marketing Metrics, ‘the probability of selling to a new prospect falls anywhere between 5 and 20% whereas the probability of selling to an existing customer is somewhere between 60 and 70%’! So what can your company do to get back on track and start reducing customer churn?
https://mopinion.com/lower-customer-churn-rates-digital-feedback/
This process looks different for every organization, and in my case here at HubSpot, we shared VoC with something as simple as an email subscription. But it's critical that the final results of this customer perspective with the broader organization -- not just the customer success team -- because as I learned from the diagrams above, my team isn't the only one playing a role in if a customer stays or churns.
https://blog.hubspot.com/customer-success/voice-of-the-customer/
