In this blog, Corinium Intelligence discusses how to understand your Voice of Customer (VOC) feedback and why this is important. What are your customers actually telling you and how do you analyze this information to get to meaningful insights? Then, how do you use VOC data to drive change in your organization?
https://www.coriniumintelligence.com/insights/voice-of-the-customer-why-you-need-it-and-how-to-start-your-voc-program/
While Voice of the Customer (VoC) programmes are now commonplace, there is still a big range in the maturity and rigour of these projects within enterprises.
For many organisations, the temptation is to tackle customer feedback by simply blitzing it - collecting lots of data from lots of customers, gathering as much feedback as possible. However, unless there are concrete plans about what to actually do with the data being collected, then this is futile – it’s just listening for the sake of listening, rather than listening for the sake of improving the experience. And this is common.
https://www.mycustomer.com/experience/voice-of-the-customer/the-nine-steps-to-designing-a-voice-of-the-customer-programme/
Most companies have recognized the value of investing in knowledge management (or KM), especially as part of their customer service strategy. It provides an always-available and ever-expanding repository of solutions accessible to customers and agents alike. It also reduces the impact of “information loss” for companies because, though staffing may change and skilled agents move on, solutions are preserved.
There is no argument that KM offers many benefits, but it’s by no means a silver bullet. Too often, companies make these mistakes:
https://www.business2community.com/customer-experience/reorient-knowledge-to-drive-greater-customer-satisfaction-02104742/
Looking at customer experience (CX) and churn in the SaaS environment from a high level, there’s one theme that stands out from the mix: The fact that we live in what’s called a “switching economy.” The term, coined by economists, describes a current trend impacting switching brands because of dissatisfaction with their experience. It can be a major driver of customer churn—and it’s already creating an incredible economic deficit in the US.
Early reports indicate that more than $1.6 trillion in revenue is up for grabs as “always on” consumers look for brands mastering CX via various channels and touchpoints. What’s more: since 2010, Accenture data shows the switching economy has increased more than 29%—and only 11% of U.S. customers strongly agree that companies are effectively converging their omnichannel experiences. So, what’s driving the switching economy? And how can businesses win back customer loyalty?
https://www.business2community.com/strategy/acing-omnichannel-support-in-saas-02098386/
When you think of Voice of Customer (VOC) Feedback, it’s exactly what it sounds like.
Voice of Customer Feedback is direct and clear feedback on your product or service straight from the mouth of the consumer/customer.
Whether you achieve this data through market research, surveys, or focus groups, it will provide you a competitive stance on your product or services, or what deficiencies your product or service has in the current market.
https://ledgeviewpartners.com/blog/how-to-use-voice-of-customer-voc-feedback-to-improve-your-customer-service-team/
For customers, conversations with brands are never more than a click away. Social media is opening up more direct channels for communication between brands and consumers than ever before. And savvy brands know to use platforms like Facebook and Instagram as stronger touchpoints to engage consumers. You might have seen this play out with airline brand representatives alleviating concerns with disgruntled flyers online in real-time, or famous fast food brands exchanging cheeky tweets with critics. While social media is a powerful communication tool, it doesn’t replace a Voice of the Customer (VoC) solution when it comes to gaining actionable customer feedback. Without a solid VoC strategy in place, social media can easily become a place where your brand’s dirty laundry is aired via public conversations, rather than a real driver of positive change.
Here’s how you can use a strong VoC strategy to work in tandem with social to better understand how customers feel about your brand:
https://www.targetmarketingmag.com/article/social-media-cant-be-only-voc-strategy/
How you listen matters. Unfortunately, some might be overlooking this particular detail of their Voice of the Customer (VoC) programs, which could end up impacting just how successful their program is in providing the insights they need to improve their Customer Experience (CX).
In a world where CX is becoming increasingly scrutinized, the importance of collecting customer feedback to fuel your Customer Experience Management (CEM) efforts cannot be understated. It is a crucial first step for any organization wanting to inject more customer-centricity in their business decisions.
However, there is an aspect of VoC that organizations may sometimes gloss over, despite its potential to have a significant impact on the quality of the feedback they get in return: the method you use to engage your customers for their feedback.
https://www.iperceptions.com/blog/aspect-of-voc-you-should-not-overlook/
Research suggests a 5 percent increase in customer retention will boost profits by 20-100 percent across a wide range of industries, which helps to explain why businesses both big and small are so focused on measuring customer loyalty and brand advocacy.
A common method is to simply phone customers after they bought a product or service to ask how satisfied they are. More business-savvy entrepreneurs will frame the question differently, asking customers how likely they are to recommend the brand to others. This produces what’s known as NPS, or Net Promoter Score.
But such bold tactics can be counterproductive and produce inaccurate results - phoning customers can damage the brand, surveys can be misleading and there are more reliable ways for fledgling businesses to track customer loyalty.
https://www.wamda.com/2018/07/measure-loyalty-alienating-customers/
With in-depth understanding of the wants and needs of customers and prospects, it becomes possible to plan and implement powerful marketing strategies and build meaningful relations with customers.
Organizations are aware that, in order to to reliably deliver superior customer experience in the future, they need to understand the customer experience they provide today. This is fundamental in developing loyalty and retention. In this context, customers feedback plays a very important role when it comes to dependably improving and enhancing customer experience.
https://www.capgemini.com/2018/05/voice-of-the-customer-voc-taking-into-account-feedback-as-a-whole/
It may come as a surprise to many of you how much effort is put into developing mobile apps nowadays. And why all the effort? If designed well, your app can give you the upper hand in the battle for market share. Note: the key words here are ‘if designed well’. Unfortunately, this isn’t the case with all mobile apps on the market. Sure, they get the job done, but many of these apps still lack key features their users crave and a strong user experience. Fortunately, there is a remedy for these poorly designed mobile apps that will help put them back on top: in-app feedback.
https://blog.appsee.com/top-5-reasons-you-should-be-collecting-in-app-feedback/
