Do you wish to succeed in the current market? Well, prioritizing your customers is a great step. Most astute professionals understand that pathway to sustained growth lies in Customer Loyalty. And, the best way to ensure customer loyalty is to delight customers at every important touchpoint. However, how does one go about doing that? The answer, of course is, a Voice of Customer program.
WHAT’S A VOC PROGRAM?
The phrase, ‘Voice of customer’ refers to your customers’ expectations and feedback about your products/ services.
Simply put, a VOC program is a structured system program that makes this possible.
You need a VOC program because-
- It has been proven to increase Revenue and reduce costs
- It streamlines the decision making process
- Since, you are asking your customers directly for feedback, it helps improve your products/services
- By encouraging customer-centricity, it improves the overall customer experience
3 STEPS OF A VOC PROGRAM
An entire VOC program can be reduced to three major steps. These are,
- Feedback Collection
1. Customer Feedback Collection
The first step is to collect customer feedback using various tools such as
- Net Promoter Score (NPS)
- Customer Satisfaction Score (CSAT)
- Net Easy Score (NES)
Did you know that with Numr you only need 20 seconds of your customer’s time to get granular feedback? Click here to read about CX 2.0.
Time and again, we have insisted that CX is not just a data collection exercise. What matters is what you do with the data. A successful VOC program must uncover actionable insights, trends, customer sentiments, and expectations from the feedback data.
This includes using AI to find hidden insights. Use tools like-
- Drivers Analysis to find the factors that have the highest impact on customer satisfaction
- Text Analytics to analyse unstructured data (comments). They usually have a wealth of information that can otherwise be missed in a ratings survey.
- Churn Analytics to find which high value customers are at the most risk of churning, and more.
3. Implement and Predict
The last and the most important step of a successful VOC program in implementation. So, you have collected your feedback and analysed your data. All of that means nothing if you don’t actually use it to plan and strategies. Utilize the insights you have gaining in your decision making processes.
In fact, go a step ahead. Companies like Numr can help you predict your Financials using your CX data and some historical data. Ideally, predicting and planning for the future should be the end-goal of a good VOC program.