Why is The Voice of Customer Important?

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Voice of Customer (VoC) is referred to as a technique to bring out customer experiences, preferences, opinions, and expectations towards an organization, its products, and services. 

Businesses leverage VoC as it provides detailed customer feedback, which they can implement in their strategy in a way that better suits the customer’s expectations. By doing this, brands understand the gaps between the customers’ needs and wants and what they are providing them. 

In this article, we will be discussing various important points as to why Voice of Customer is important to you if you are a business owner aiming to build a successful customer experience.

Understanding VoC

The Voice of Customer is a data collection approach that helps you gather customer feedback to understand their preferences and expectations. You can use online survey tools to gauge what customers say about your brand, its offerings, and their experience with your brand. 

Listening to customers’ voices isn’t the end of it. You must also act on their perceptions and expectations to align your actions with customers’ needs. Read our blog, where we discuss Voice of Customers in detail

Why is the Voice of Customer important?

VoC is a way to connect with your target market and have relevant insight into their experience. The purpose is to deliver results that customers appreciate to ensure long-term customer relationships and ROI. According to research by Gartner, collecting customer feedback can help increase the success rate of upselling and cross-selling by 15% to 20%. 

VoC approach helps you in: 

1. Improving products – 

To understand what your customers think about your product, you first need to understand what they like and dislike about your product. By taking post-product feedback from them, you will know those dissatisfactions in the customers, and you can figure out the defects and work to improve them. The VoC also gives you insights and ideas for your future products. 

2. Enhancing customer experience – 

Customer is the key to a successful customer-centric organization. And the best way to have the best cx is to listen to the customer. Voice of Customer provides you with just that. You will gain information about various customer issues from various sources. You can analyze this information to draw out conclusions on how to act upon those shortcomings and improve your products and services. Therefore, enhancing your cx. 

Also read: How to quantify ROI for CX Transformation?

3. Insightful decision-making – 

While making any big or small decisions in the organization, you need to consider your customers. What decisions you take and how the customer base will react to it is the important thing you need to consider. 

  • Read how Voxco helped Frost & Sullivan conduct 100k surveys across 300 industries. 

4. Communicating customer feedback to the company– 

Once you have gathered the Voice of Customer, you can share it with different teams in the company that is directly or indirectly related to the customers. These teams can be product development, marketing, sales, customer care, etc.; leveraging customer feedback will help you bring everyone up to the progress, and all of them can individually start making their improvements.

5. Nurturing regular interaction – 

Customers love to stay with brands that don’t make them feel abandoned. Hence, if you have a Voice of Customer in place for your organization, it will help you sever that connection between you and your customers. 

6. Fostering loyalty – 

With NPS, the Voice of Customer can tell you how many of your customers are going to stay loyal to you. 

This is done by asking them one question: “How likely are you to recommend us to your friends and family?” The answer to this question will tell you how many of them are sure of recommending you, how many are happy with your brand but not enough to recommend you, and how many of them don’t even consider it. 

7. Prioritizing one problem at a time – 

In the Voice of Customer program, there is no “one survey for all goals”. Hence, you need to specify your goal even before you start framing your customer feedback survey. Your goal can be to understand what customers think about your soon-to-be-launched product, customers’ feedback on an already launched product, what the customers think about your customer service, and so on. 

According to these goals, you will have a specifically designed VoC program. This will help you get to the root of one topic and solve it completely.

8. Addressing negative remarks – 

The Voice of Customer standards will encourage you to ask questions that will get you more negative feedback from the customers, and not just the ones that you know will return positive remarks. The reason behind this is that it is believed that growth can be started when there is constructive criticism. 

So when you decide to sportingly accept the negative customer feedback, you motivate yourself as an organization to do better. 

9. Converting customers to advocates–

The voice of the customer mostly uses tools that make use of data science to label out the “good” and “bad” words for you. Hence, it shows you how many happy and unhappy customers are out there. Whereas happy customers bring in money, the unhappy ones help you reduce the churn. 

Either way, it is beneficial for your organization to pay attention to both of them and try to turn unhappy customers into happy ones by enhancing your services. 

Conclusion

The Voice of Customer is an insightful approach that can help you learn about customers’ needs and expectations, drive innovation, and gain a competitive advantage. By implementing VoC along with other customer feedback approaches, you can keep a pulse on customer satisfaction, loyalty, and experience. 

It helps you find opportunities to improve overall customer experience and also ensure a positive experience for future customers making customer retention seamless and efficient. 

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