Voice of Customer (VoC) is a term widely used in market research, that describes your customer’s feedback about their experience with your products and services. VoC is about the customer experience they have had while purchasing something from your brand or availing services.
Voice of customer is a platform that mainly focuses on what the customers need, what exactly are their expectations from your brand and a strong communication platform to tell the brand if their product needs improvement.
With 90% of the companies already using customer experience to compete with one another, you don’t want to fall behind as a brand or an organization. Most of the new age companies and their CEOs are focused on making their brand “high-growth” with a customer focus mindset. Does your brand have what it takes to compete with such businesses?
The voice of customer can be heard through a variety of different platforms like interviews, focus groups etc. However, with the technological advancements, VoC can be conducted on a much larger scale because of the internet.
Online surveys, emails, SMS, social media platform help you gather customer feedback. This helps you build a complete picture of the experience you are delivering to each of your customers.
Once this information is obtained in a statistical data format, this information can be delivered to the business or organizations so they can make informed decisions.
There are many reasons why Voice of Customer is extremely crucial to a business or an organization. However, there are some important reasons why VoC plays a crucial role in any business:
The insights provided through a customer-centric program need to be acted upon quickly. Remember if the data is collected and not acted upon the entire purpose of having that data is defeated. Here are the 4 benefits of implementing Voice of Customer program:
The value of retaining an existing customer over acquiring a new one is significantly higher. Below are some of the methods to collect the voice of the customer.
Surveys can be conducted online or offline depending on the network connectivity of the respondents. You can use a free ready-made survey template to save on time and effort or create your questionnaire.
The voice of customer interviews are done in person, however, they can also be done through one-on-one calls and emails. The interviewer asks a set of questions to the customer and notes down the responses.
In this voice of the customer method, 8 to 10 customers are selected to form a group. Apart from their answers, qualitative data such as their expressions, feelings, body language, and emotions are also noted.
Emails can be used to gather feedback when the sample audience is small. The benefit of this voice of customer method is people can respond to an email as per their convenience.
A good voice of customer program helps you better understand customers’ choices, concerns, and preferences. However, it is not enough to collect customer feedback through surveys. What makes the difference, is how the survey data is analyzed and more importantly, how businesses use the insights generated by a voice of customer program.
Once you have the insights ready, it’s time to put them in action! Respond to the concerns of the customers and take steps to improve customer satisfaction and loyalty. Identify the bottlenecks in providing the best customer experience and how it can be further enhanced.
Example 1: A leading airline customer conducted a program to collect the voice of customers and find out areas to improve their experience. The passengers were requested to answer a series of questions ranging from in-flight entertainment, comfort, meals, and crew service. Once the survey answers were collected, the data was analyzed to get the pulse of customer feedback. The changes in the service delivery were made in real-time to maintain customer loyalty and prevent passengers from switching to their competitors. Such a customer-centric attitude of the airline helped them to reduce the churn rate and maintain a dominant position in the market.
Example 2: Another example of how the voice of customer can benefit is that a popular SaaS company used an in-app survey to collect feedback from the users and usage data to improve the user experience. The company analyzed which features were being used the most and what new features would the users would like to see in the app. The survey responses were filtered based on the number of parameters. The company realized that instead of having a one-size-fits-all package, there should be different pricing models to suit the needs of different users. Soon, they saw a surge in the number of users and a spike in their satisfaction level.