All you need to know about running a successful VoC program 01

Voice of customer analytics

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What is the voice of customer analytics?

The Voice of the customer is the heart of every business. Brands use the voice of customer programs to understand what the customers are thinking about their products, services and overall brand. They gather customer experiences through surveys, interviews, focus groups, social media platforms, etc.

With this advancement in gathering valuable data from the customers in abundance, there is a need for a better and efficient voice of customer analytic techniques than ever. The gathered needs to be treated well in a manner that its analysis will provide you valuable ideas and insights to work on. 

The main focus of voice of customer analytics is to make use of data science and automated analytical tools to make the raw gathered data into a piece of information. This information is then converted into knowledge when the experts are done analysing, and this knowledge is used in practice to transform the brands’ development. 

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Why do businesses need the voice of customer analytics?

Voice of customer analytics has been transforming at a rapid speed since technology started taking over businesses. Various data science tools and experts are mastering the art of handling massive datasets with a few clicks. These times, it is pretty obvious why it is necessary for businesses to make use of the voice of customer analytics. Apart from that, the voice of customer analytics helps to:

  • Voice of customer analytics helps businesses to find out which are the painful customer touchpoints that bring down the brand image.
  • Get to know the customers’ overall experience with your brand.
  • Find gaps and areas that are not been touched before by anyone and start developing products and services accordingly. 
  • Analyze what customers want and demand from the market and develop a product to solve their problems. 
  • Opens a transparent channel for the brand and customers to have trustworthy communication. 
  • Understand customers’ issues and problems with your product and update them accordingly. 
  • There is no one strategy throughout the business run-time. Voice of customer analytics helps you to change your market strategies depending on the new trends in the market. 
  • Helps you as a brand to identify new insights and ideas on how to develop your new products and services. 

Gathering data for the voice of customer analytics

Given all the benefits of using the voice of customer analytics in your organization, in this section we will look at various forms of data collection for getting started with your voice of customer analytics:

  • Direct feedback 

This is a very straightforward way, where the customers directly interact with the brand. This interaction happens through the different available voices of customer data collection techniques like surveys, interviews, brand’s social media handles, etc. there is a representative of the company who is listening to these customer feedbacks. 

This feedback method works for both B2B and B2C markets. 

  • Indirect feedback

This form of feedback is always hidden. You will need experts to draw out these indirect customer feedbacks from various platforms where they comment. Meaning, you might have seen customers discussing products in the comment section of a shopping website, or on the brand’s official websites. This is not just customers expressing their views, this is valuable customer feedback that you need to pay most attention to. Sometimes customers tend to slide their honest feedbacks through such conversations. You need to keep a keen eye to watch out for such key points. 

  • Inferred feedback 

Inferred feedback is often collected when the customers interact with the organization. It can be their call about any issues or any sort of interaction. Inferred feedback is collected through CRM software. This type of data gives you ideas about what future marketing strategies you should inculcate and what is the customers’ intent through analysing their conversation with the organization. This does not require customers to explicitly give their feedback. 

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Using the voice of customer analytics

  1. Customer experience – the main motive of the voice of customer analytics is to enhance the customer experience. This is the primary thing that affects the growth of the brad. If you gather data correctly and analyze it effectively, you are bound to have valuable insights into how your customer base thinks about your brand. 
  2. Reputation management – brand image contributes a lot to the customer’s purchase decisions. People always do their research before buying anything. In such cases, when your brand in the top, they are likely to choose your brand for their purchase experience. If not, you need to make use of the voice of customer analytics to make sure you are staying on top of the market. 
  3. Brand awareness – the voice of customer analytics is the best way to find out what appeals to the customers about your brand the most. You can go ahead and focus on any one factor and survey them to understand where your brand stands in the market.
  4. Market intelligence – the voice of the customer will help you draw out the differences between yours and all the other brands in the market. Your own customers will help you find out what are the things that are unique to you. This will tell what customers prefer to have and what factors influence their choices.
  5. Product management – another big area of interest that voice of customer analytics brings to light is what improvements your products need. Depending on the customer feedback, you can make respective changes to your existing product. Apart from that, you can have new ideas to build futuristic innovative products.
  6. Marketing strategy – this focuses on how you market your products. Sometimes customers wish for some features to have without knowing they already existed. In such cases, if they get the regular email and SMS updates on the latest features and trends, they will prefer to purchase those with your brand. 

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