Updated: May 31
“Capturing the exact voice of the customer is like striking gold.” – Kai Yang.
A customer is the most important component of any marketing strategy. The marketing plans of each and all companies revolve around its customers, both current and potential. Without customers a business tend to vanish, in short time, from the business arena.
Voice of customer is a business methodology used by businesses to learn the needs of customers, get their feedback on service provided or products sold, and understand their expectations. The aim is to provide them with better service, efficient after sale service, and good quality products, which in turn results into positive business outcomes for the company.
Paying attention to your customers, whether current or potential, listening to their complaints and heeding to their feedback is the main step in developing a bond with your customers. This bond is essential for the success of your business. It lays stress in closing the gap of understanding between customers and your company in such a way that the customer feels privileged, happy and satisfied.
Why Does the Voice of the Customer Matter?
Voice of the Customer programs are instrumental in helping companies retain their customers, build better products to fit customers’ changing needs and requirements, offer better services, appreciate customer’s expectations and in return retain their loyalty and trust and gain new customers. All these activities result in the growth of market and increased revenue.
In today’s high-tech competitive world, understanding your customer’s needs is crucial. A clear feedback received from your customer goes a long way to help you make informed decisions that will sit well with your customer.
Market research always helps a business to identify risks and eliminate them. Voice of the customer program is instrumental in pinpointing risks faced by your company, which can then be eliminated on priority basis. It also helps you to spot opportunities, which can be in the form of an emerging new trend, a gap in the market or new approach to attract buyers.
How to Implement a Voice of the Customer Program?
When your customers share their voice in directly with your organization, they expect you to listen, act and report back to them by analyzing and taking steps to better your overall performance.
Listen: In a tech-savvy society where consumers are investing grandly in the products and services than ever before, giving your customers voice is crucial for the survival of your company. Listening to the wants and expectations of your customers in today’s fast moving markets and ever changing business scenario, gives you a competitive edge over your rival businesses. The best way to do this is by frequently providing your customers opportunities to impart their feedback to you. This can be done through on-site customer surveys, customer interviews, social media channels, live chat, comment boxes on your websites, monitoring analytics on web sites, net promoter score (NPS), focus groups, and emails.
Act: Immediate action is the focal point in the voice of the customer program. The program stresses on quick response to customer feedback so that customers know that they are heard. A delayed positive response is just as bad as a negative response and the longer you wait to respond to your customers’ feedback the greater the chance for them to turn into aggrieved customers or outright detractors. Therefore, it is imperative to develop a culture in your company that values their customers’ views, give importance to feedback and are quick to response.
It should be clear in your mind that in present social media scenario, a dissatisfied customer will be quick to share his/her bad experience with your brand and company online which will go viral in no time.
Analyze: Now that you have the data collected, it is important to classify the feedback into common customer problems, their pain points and improvement suggestions. This will help you decide where you need to focus on priority basis. You can use this feedback data to make your production or service better, eliminate your weak points, improve on your after sale service and deliver an improved customer experience.
If handled professionally a voice of the customer program gives you a deep understanding of customer behaviour, how to take the best actions, both short-term and long-term, to best serve your clients’ interests and effectively handle the most pressing pain points. Voice of the customer program is a quick, simple and dynamic way to listen to your customers and to initiate customer oriented thinking throughout your organization. To launch such a program, get in touch with Ogling and get a custom quote today!