Voice of the customer (VOC) initiatives have gone mainstream. Unfortunately, too many companies doom their VOC programs from the start.
The problem isn't that brands aren’t collecting feedback. In fact, companies are gathering more feedback from customers and visitors than ever before.
The problem is that brands fail to realize the primary value of VOC data. Information culled via customer feedback is valuable because it creates internal alignment and provides insights that allow brands to execute quicker than the competition.
https://www.cmswire.com/customer-experience/why-your-voice-of-the-customer-data-isnt-actionable-and-what-to-do-about-it/
In a data-driven world, brands require a more comprehensive, data-driven approach to managing their reputations. Most large brands I know view reputation management as the process of managing online ratings and reviews. And indeed having a system of soliciting and managing customer ratings/reviews is important.
Ratings/reviews are the lifeblood of your reputation. The more reviews you have online, the more findable you are on Google, and the more likely it is that customers will choose to do business with you. In fact, nine out of 10 people regularly or occasionally read reviews online.
http://www.lsainsider.com/the-future-success-of-your-brand-depends-on-the-voice-of-your-customer/archives/
As consumer behaviors and demands continue to evolve, brands are now focusing their efforts on delivering a good customer experience, even if that’s at the (slight) expense of the actual product or service they sell. In fact, a study by Gartner states that nearly 89 percent of companies are competing on customer experience alone.
We’ve taken a look at the list compiled by Mopinion to come up with eleven enterprise voice of the customer tools to help you find one that aligns with your organizations business needs.
https://www.cmswire.com/customer-experience/9-enterprise-voice-of-the-customer-voc-tools-you-should-know-about/
According to the latest Customer Experience in Marketing Survey 2017: Greater Expectations, Greater Challenges, in two years 82 per cent of B2B CMOs expect to mostly or completely compete on the basis of CX, compared with 76 per cent for B2C marketers.
Meaning that competing on price and product or a combination of both is becoming much less important. This is big, really big, because creating great customer experiences will require tenacity, dedication, long term thinking, integration of data, collaboration and a cross company approach where everyone is involved. No. Mean. Feat.
https://which-50.com/why-the-customer-experience-matters/
Customer churn in the age of information is a fact of life for every business in every industry. Customers have unprecedented access to data, enabling easy comparisons of alternatives, as well as hassle-free provider changes with a simple click of a button. With Accenture reporting that 77% of consumers are no longer loyal to any particular brand, companies must work harder than ever to retain their customer base. It is well known that the acquisition costs of converting new customers far outweigh the cost of maintaining current customers, further motivating companies to find and implement innovative customer retention strategies. Technology-based customer retention solutions provide powerful platforms and fresh approaches, and most importantly, practical frameworks and processes to successfully engage with customers at scale. They have been proven to consistently decrease churn and improve a business’ bottom line.
http://customerthink.com/technology-based-solutions-to-enhance-customer-retention-strategies/
To truly be a customer-centered organization, you must bring the voice of the customer into your meetings. Here are four steps to get your started.
https://www.forbes.com/sites/yec/2018/04/10/bringing-the-voice-of-the-customer-into-your-meetings/#2d9dc6f0c4f5/
GDPR is an “important wake-up call” and offers a chance for the travel industry to reassess customer relations, a data expert has said.
Claire Hazle, director of marketing and e-commerce at Cosmos UK, told TTG the EU’s General Data Protection Regulation would force firms to consider what they want to achieve from consumer data.
The regulation, which aims to return control of personal data to consumers, will be enforced in the UK from May 25.
https://www.ttgmedia.com/news/new-data-regulations-a-wake-up-call-13742/
Are you losing sleep at night thinking about the arrival of GDPR? If so, you’re not alone. There are still many organisations (small and large) that aren’t entirely sure how to prepare themselves for the upcoming changes in data collection regulation, especially as it pertains to digital feedback. But don’t worry, it’s not too late to start!
This article guides you through the basics of GDPR (e.g. what it is and who will be affected), the most critical changes to be aware of in terms of digital feedback collection, why it’s important to comply with these regulations, the consequences if you choose not to and what we’re doing here at Mopinion to get ourselves and our clients ready for the new legislation.
https://mopinion.com/gdpr-impact-on-digital-feedback-collection/
Businesses know data is crucial when making decisions, but where do you draw your data from? According to new research from Calabrio, businesses are too fixated on a single data point, essentially missing the bigger picture.
These findings are published in a whitepaper entitled Business Transformation and Analytics: Driving Change in a Customer-Centric World, and are based on a poll of more than 1,000 c-level business execs in the UK and the US.
https://www.itproportal.com/news/businesses-not-utilising-the-full-potential-of-their-data/
Over the last few years the financial services sector has made significant improvements in the decisions it makes that affect customers. The major fines that resulted in big newspaper headlines a decade ago have dwindled, but at the same time customers still lack trust. A YouGov poll last year found that more than half of British consumers (55%) don’t think banks are working in their customers’ best interests. Given that it has never been so easy to switch a bank account or change insurance companies this has long-term negative consequences for financial institutions.
http://www.bobsguide.com/guide/news/2018/Mar/16/why-understanding-the-voice-of-the-customer-reaps-long-term-dividends/
