Voice of Customer is the golden way that can help you ask how your brand can be a customer favorite. Customers know what they want from a brand and you just need to ask them that information to succeed among all other businesses.
It is a system of collecting feedback, analyzing data, and making a data-driven decision for the brand.
Voice of Customer is the method that uses market research to collect and use customer opinion to improve the products, services, and capabilities of a business. The term refers to the data about your target market’s preference, expectation, and aversion.
You can collect the information from your target market and existing customers and cross-check it with the previous survey results. Use the result to improve your Business and attract customers. You can assign priorities to each of the customer expectations depending on your business objective.
You may believe that your current customers are going to stay loyal to your brand forever. But, not all your paying customers are loyal to you. Voice of Customers can help you learn if your current customers are satisfied with your brand.
You can determine if they believe that they are receiving the service they deserve. It also helps you identify where you are missing out in making them happy.
Dissatisfied customers, though not all, often share their disappointment with the brand on social media to warn other customers. Negative reviews, complaints, and comments can harm your brand image. You may end up losing customers before you even get the chance to resolve the issue.
By utilizing Voice of Customer you provide customers, especially dissatisfied customers, a platform to share their negative reviews and disappointments with you directly. Instead of going into social media to complain they complain directly to you. This way you get to act and improve your business before the entire world knows about the issues.
Listening to the Voice of Customer helps in understanding every step and touchpoint in the customer journey. You can view the full picture and understand their experience from their point of view.
It shows you what you are doing well for your customers and where you need to improve more. You can create a customer profile based on their preference, behavior, purchase habits, etc.
Knowing what your customers want can help you develop our products and service that capture customer’s attention. Listening to your customer’s expectations and needs before you develop a new product can put you on the path to success.
If you are not certain what feature they may like/not like or what price they are willing to pay for it, you can ask them prior to launching a new product. This keeps you away from making risky investments and failed products.
This point should not come as a surprise. By listening to the voice of customers and using it, you are giving them exactly what they want. You successfully end up demonstrating all positive qualities about your brand. The customers enjoy this improved and positive experience with your company.
As per Walker’s study, customer experience will become the brand differentiator. It will overtake the price as well as the product.
It means that customers will decide whether to continue their journey with you based on how you serve them. They will pay more attention to their experience and interaction with your brand than the price or products. As we know, around 89% of customers leave for a different brand after a bad customer experience. This means that the brand’s success will reside in customer experience.
According to the research conducted by Bain & Co., excellent customer experience can grow a company’s revenue by 4 to 8% more than their competition.
Voice of customers also helps you be prepared for any issues that your customers may face. You have solutions in action to prevent such issues. You also learn what your customers dislike and so, you resolve that issue, ultimately gaining customer’s trust.
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To start your own Voice of Customer you don’t need to take any bigger actions. You can start by offering them platforms they are familiar with to share their views.
Popup surveys are the best ways to entice the customers into getting in touch with you. Customers who want to provide their opinion and suggestions in improving your products/services can use the feature and share their thoughts.
Whether it is a focus group or talking to a shopper in your store/mall, engage in a direct conversation with your target customers. Talking directly to your customers may help you initiate complex topics that otherwise you can’t. You can engage in deep conversation and listen to their opinions without them being restrained. This may help you understand certain viewpoints that you may not have thought of.
To make the best out of customer surveys, you can designate some employees or a department to monitor the survey process and analyze the survey result. Also, monitor all the channels and gather the comments and feedback left by customers on all platforms. Focus on all the feedback, not only the one with the most likes (social media).
Share the customer feedback with all of your employees. This will help every one of your employees to understand how customers feel about the company. Most importantly share relevant comments with the relevant department. For example, send the comments on features and products to the product development department.
NPS surveys are a great and simple way to gather insight from your customers. The quantitative data tells you how many of your customers are loyal to you (promoter) and how many are on the verge of leaving (detractors).
With the knowledge of who your promoters, passives, and detractors are you can design your Voice of Customer in a way to ensure that you ask relevant questions to the right segment of customers. You can learn from your detractors what you are failing at so that you can improve it. Promoters and passives may suggest to you what features or services will get them to become loyal customers.
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There are many tools to collect data for Voice of Customer. However, it is important to select a tool that leads you to your main objective of VoC. You cannot use a tool that can’t help you compare complex trends over time.
Let’s say you want to use social media as a source to collect customer feedback. You need a Voice of Customer platform that can help you in analyzing the comments, tweets, and likes on the social media platform. The tool should be able to report the data just the way you need it to be.
Going for the wrong tool can lead you to waste investment due to failed projects. Choose a VoC provider with enough experience to solve your problems for you.
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Voice of Customers helps you understand if you are keeping up with and fulfilling customer’s expectations with your service. It tells you how far away you are from matching your service level to a positive customer experience.
VoC Survey is a combination of focus groups, interviews, and observation. It provides customers an opportunity and platform to share their qualitative and quantitative feedback.
Some sources used to collect Voice of Customers:
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