The value in Customer Experience Optimization (and the cost of ignoring it!)

The value in Customer Experience Optimization (and the cost of ignoring it!) customer experience optimization


The value in Customer Experience Optimization (and the cost of ignoring it!)

The debate for the importance of customer experience is long over (Everyone agrees that it matters. A lot!), and has now moved on to customer experience optimization. Building a holistic Customer experience Management program requires looking at several factors. But is any one factor one more important than the others? Is it making a difference (as you’d hoped for) or is there room for improvement?

How do you optimize your customer experience effectively?

It’s become increasingly clear that the positives from a comprehensive CX program trickle down to several aspects of your organization. So while determining the ROI of your CX efforts (which can include customer experience surveys), it’s important to consider the value these “side-effects” bring to your business and your organizational structure. Better satisfaction rates are just one benefit one can expect from optimizing your CX. 
Optimizing your Customer Experience is a multi faceted process, and could require you to look into several core aspects on how your organization functions:

Customer Experience optimization goes hand in hand with better business practices

A well run organization with well defined business processes will have an easier time when it comes to delivering great customer experiences. Taking a customer experience survey based approach to identify pain points and addressing them will more often than not identify inefficiencies in your business process as well. Which is fine – inefficiencies creep in to any organization over time. However, you should ensure that you rectify them in a manner that makes these processes more customer centric. 

Ensure your Employee experience is taken into account

Employee Experience has a direct impact on your CX as well – after all, they can form one or more touchpoints with your customers. Not just that, better CX programs can keep your employees free to pursue higher value tasks instead of having to work on retaining customers. 

86% of CX executives rank Employee Experience as one of the top factors impacting Customer Experience

Tech like Voxco’s omnichannel survey platform can help you manage employee and . By conducting regular Customer experience surveys like NPS, CES and CSAT at multiple touchpoints across your organization, you can anticipate customer requirements more effectively. Customer feedback is often unkind, but is almost always valuable – implementing them will improve customer satisfaction and reduce churn (both employee and customer). 

Calculating ROI is hard, but there are ways to measure and justify Customer Experience optimization

Analyze costs in everyday processes to reconfigure accordingly

Research shows that 49% of shoppers made impulse buys after receiving a personalized recommendation and that 44% will become repeat buyers after personalized experiences

This goes to show that an improved, personalized customer experience is imperative for ensuring business success over the long term. Companies need to reconfigure costs to and provide a cross-enterprise view to gauge their CX cost requirements, and then measure its effectiveness accordingly. 

Then there are more traditional methods to measure the effectiveness of your CX. Conducting Customer Experience surveys at key touchpoints and tracking the change in their results post-changes is a good way to measure customer satisfaction, loyalty and overall CX. Letting respondents know after you implement their feedback, or are even considering the same helps improve customer loyalty and reduce customer churn as well. 

Customer-centric companies are 60% more profitable than companies that don’t focus on customers.

Customer experience optimization infographic
Businesses need to focus on providing great experiences. Great experiences lead to higher levels of customer loyalty which, over time, increases revenue growth.

Identify your customer journey and optimize it

Every interaction a potential customer has with your brand at any given touchpoint can be described as their customer journey. Identifying customer journeys and then nudging them along what you feel is your ideal customer path is a key aspect in ensuring better customer experience. 

Tracking customer journeys also helps you direct your resources more effectively, to improve both CX and general business processes.  

Improved CX Metrics have a positive impact on revenue

An improvement in CX metrics even by a single point translates into significant financial gain for companies across verticals (You can find out more about this in our Customer Experience Hub). Delighting the customer may be costly in the short term, but its positives are there to stay, both in terms of brand value and overall revenue generation. 

Achieving such results will require careful planning on your CX team’s part. It could be the case that a simple evolution of your existing customer service experience would suffice, rather than a thorough overhaul.

Empower your CX with Voxco

Turn customer touchpoints into positive experiences using powerful logic-driven surveys
Voxco is trusted by Top 50 Market Research firms, Global Brands & Universities in 40 countries. Voxco offers full omnichannel capability including CATI, Predictive Dialler, Online surveys, offline CAPI, and Panel Management.

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Sidhant Shori is a Content Marketer at Voxco. He's got a Bachelor's degree in Computer Science Engineering and leverages his interest in market trends as well as his experience in creating content. He's also a Sci-Fi geek and enjoys video games and movies and also likes reading thrillers.


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Voxco partners with MarketSight for industry-leading analytics and reporting

Voxco is a powerhouse in survey data collection software. Even so, like virtually all technology companies, we also rely on select partners to continually improve our products and services.

We choose partners based on their strong expertise in a specific domain and their ability to add complementary capabilities to Voxco’s survey platform. Our most recent partner does just that.

We are pleased to announce that we have formed a strategic partnership with MarketSight – a leader in data analysis and visualization software, designed specifically for survey researchers. We feel this move gives Voxco clients the best of both worlds – industry leading survey software coupled with powerful analytics capabilities – all in one platform.

Read a bit more about it in the press release below or get in touch with us if you would like more details on this end-to-end integrated solution, Voxco Analytics.

Voxco announces integration partnership with MarketSight to streamline survey data collection and insights creation.

Voxco, an industry leader in survey software solutions, today announced a strategic integration between its data collection platform and the MarketSight data analysis and visualization system. This partnership leverages each company’s unique strengths to enhance how customers are served and expand consumer reach.

Market research firms and insights departments are under constant pressure to gain insights at a faster pace and efficiently share key findings with different groups.  The newly integrated solution provides researchers an end-to-end system to meet those challenges.  Researchers can now collect survey data through any of Voxco’s many survey modes – CATI, Online, Mobile Offline, IVR – and then seamlessly run analysis and reports in an advanced application.  The integrated solution will be available as Voxco Analytics in the Voxco survey platform.

Chris Modzelewski, CEO of MarketSight explains:

Voxco’s proven track record in data collection fits perfectly with MarketSight’s expertise in data analysis and visualization. Clients need both aspects to generate real value from their insights. Under this partnership, Voxco customers will possess the ability to efficiently move from data collection to insights by leveraging our respective industry leading platforms.

Commenting on the partnership, Voxco CEO Raymond Cyr shared:

We are always looking for partners who can add value to the products and services we provide customers.  In MarketSight we have found a great partner. They offer powerful reporting, analytics, and visualization capabilities that are a perfect complement to our data collection strengths.”


Close your customer feedback loop with Net Promoter Score Surveys

Consider any scenario where you’re faced with a major decision –

Take, for example, a personal purchase, like buying a new TV or a new car. How do you learn about the products you should be buying?

For most people, that boils down to two ways – the internet and taking recommendations from people you know. Now, the internet can give you all the facts and give you a ton of reviews, but for many people, that’s just not enough.

That leaves us with personal endorsements. Recommendations from friends and family are incredibly valuable to customers. Studies show that over 80% of people put a higher emphasis on recommendations from friends and family than any other form of marketing or advertising.

This puts any company or business which deals with the mass market in a bit of a spot. No matter how good your product or service may be, or how on-point its advertising is, it can still be overlooked by a customer who feels that their great uncle or mother-in-law’s suggestion carries more weight.

Enter NPS

Net Promoter Score or NPS is an index created to survey customers on the basis of a single question “How likely are they to recommend your product or service on a scale of 1-10 to a friend, family member or colleague?”

Based on this rating, respondents can be classified as either promoters (Rating 9-10), passives (7-8), or detractors (0-6).

The Net Promoter Score is calculated by subtracting the percentage of customers who would be classified as detractors from the percentage who would be classified as promoters.

Using NPS in a way that’s right for you

So, why is a simple metric so important? It’s only natural for any company or business to have its fair share of detractors. Whether it’s intentional or not, these complaints can cause churn. If they happen to voice their opinion or negative experience on a public platform, they can plant a negative image in the minds of potential customers.

Deal with your detractors

You need to consider the fact that detractors may have a genuine grievance about your product or service and reaching out to them to find a resolution can not only help you resolve issues in your offerings and retain customers but also create advocates for your brand.
NPS Surveys can help you by providing useful insights into your customer’s requirements, and what your product or service’s strengths and weaknesses are, thus closing your customer feedback loop

Choose your spot wisely: Reach where most effective

Getting insightful customer feedback is no easy task. Customers will not always have the time to give you feedback — be it positive or negative. This means you have to be strategic about approaching your customers for feedback, while making sure you get all the data you need.
Surveying customers too early for their NPS feedback can give you false scores based on first impressions and, even if positive, it may not reflect their experience down the line.

Integrating NPS with analytics for better results

NPS can be the basis for a more comprehensive set of questions. You can easily integrate it with a survey platform to elicit more detailed feedback. It’s possible to organize scores and analyze customer behavior.
Using NPS-based data with your internal resources can help you understand why customers use your offerings the way they do and how you can keep them happy for the foreseeable future. One such tool is Voxco Analytics – it’s a comprehensive platform which can help you turn your NPS data into useful CX insights

Your promoters are your allies – Let them know!

It can be easy to forget the customers already in your corner, but that would be a waste. Reaching out to people who have scored you an 8 or higher, and asking them for further feedback will go a long way in making them feel valued, and ensure their loyalty. You could ask them to refer your services to others, and perhaps even incentivize them to do so.Try incorporating a theme of being thankful for their time and that their opinions have value and have the potential to create meaningful and possibly tangible change.

We know the weight word of mouth carries, so why not use it in your favor as much as possible?

As a concept, NPS is as simple as it gets. It can help you get just the data you need to make improvements to your overall customer experience and reduce churn in one go. The biggest businesses in the retail sector have successfully used NPS to take their to new highs and coupled with modern tools for web surveys and analytics platforms, it can be a potent tool for any business. It is crucial for closing the customer feedback loop and ensuring every customer is heard. 

Voxco is trusted by researchers across verticals in 40+ countries. Check out our Market Research hub for more reading on how one can best glean insights via omnichannel surveys.


Humanizing Customer Experience – Why survey data is the right tool for the job

Enterprises and businesses the world over are slugging it out in their quest to offer the best customer experience possible.

Companies are trying everything – Unique incentives, loyalty programs, personalized offers – you name it – in the quest to secure Customer Loyalty. Better customer experiences are not just a positive for the customer – businesses have much to gain as well.
Loyal customers are an asset to any organization, and ensuring that they have an excellent experience with your product, service and support should be a major priority.
It’s fine having automated messages and chatbots as a point of first contact with your customers, but adding a human touch to your overall customer experience is likely to result in  far better reception and create customers loyal to your brand.

Foster better relationships by closing the feedback loop

It’s become common practice to ask for online feedback almost immediately after a customer has used a service or product, and while that is completely necessary, the feedback loop cannot be allowed to terminate there.

Customer Experience (CX) isn’t all about instant conversions. The emphasis is on fostering better relationships with your customers and even potential ones. It’s important to let customers know you’ve evolved because of them. A single mode such as online may not be enough. Additional channels such as the phone can help humanize customer experience. Down the line, you can even take feedback about the changes as well.

Learn how to predict sentiment via digital channels

Data collected and analyzed can tell one a lot about customer psyche. Take Net Promoter Scores (NPS) for example. It is an extremely effective methodology for gauging Customer Experience. A 10 on an NPS score usually indicates that the customer is happy with the product or service. It could also mean that they’re simply satisfied with the product and did not give a lower rating because they felt that they may be asked to provide reasons why.

Businesses need to explore the customer journey in detail and find their pain points before they become a problem. Cutting-edge survey platforms of today can even capture audio/video reactions of survey respondents. This is extremely effective for gauging sentiments in a way data just cannot express.

Humanizing Customer Experience – Why survey data is the right tool for the job customer experience

Customers are humans first – let them know you’re listening to them!

Although taking feedback is always a positive process, customers often feel that it’s all just for show. This makes it difficult to rely on the data they generate

Combating negative feedback is a long term, continuous and vital part of customer experience. You can start by keeping a line of communication open with them – let them know how their feedback has been put to use. Not only will this build your brand in their eyes, but it will also ensure that any data you get from them down the line is more useful for your organization.

It’s okay to keep it light sometimes!

Not every survey has to be one that is striving hard for information or getting intensive feedback! Why not ask customers their favorite flavor of ice cream or their favorite holiday? You can even tie these light hearted quizzes and surveys with incentives to really get customer interaction going.

Light, positive interactions with your customers go a long way in strengthening your bond with the customers, and by extension – your business, more human. It’s not just about their feelings, though, as maintaining a line of communication with your customer plays a key role in ensuring their loyalty.

Getting the Customer Experience just right isn’t possible without making the entire process more “Human”. Data generated by modern survey tools can give researchers audio and video data which virtually gives you a look inside the respondent’s mind – what they’re thinking & how they’re feeling. These can dovetail extremely well with the data generated by NPS and other standardized survey techniques and help you provide a sustainable and holistic customer experience.


Employee experience during the pandemic – Getting insights now will have a long term impact

Getting Employee Experience right can be hard even in the best of times, and now a global lockdown has placed employers in uncharted waters. COVID-19 has essentially forced companies to embrace big changes in organizational structure and functioning (work from home is a big one).

When the pandemic’s impacts first came to light, many worked on the assumption this would be over soon – Employees switching to work from home took it as a short break from routine. The reality of remote work persisting was something that most nations & businesses across the world were unprepared for. Companies now face new challenges to ensure their Employee Experience stays on track.

The employee journey will be virtual for the foreseeable future

Recruitment, on-boarding, day-to-day activities – every touchpoint involved in the employee journey has gone virtual. How do organisations ensure company culture remains consistent under remote conditions?

Employee experience during the pandemic – Getting insights now will have a long term impact employee experience

The world continues to move, despite staying at home

The pandemic has had a differential impact on businesses. While some (airlines, travel & restaurants) are struggling to stay afloat, others (for eg. e-commerce players) have had to hire to keep up with demand. On-boarding employees virtually presents its own set of challenges. How does one ensure a smooth transition, clarity about company ethos & the new role? Surveying new hires can be invaluable while designing a new virtual onboarding program.

Mental wellbeing matters more than ever

There’s no doubt social distancing, the threat of a pandemic and generally negative news broadcasts about are causing a great deal of stress. Surveying employees about their mental well being can help you tweak your company’s communication approach to reassure them while considering options to relieve stress & boost productivity. Should the company offer guided meditation classes, virtual group yoga or online courses for them to skill up? Employee feedback can help you decide. Such an investment in employees would also show that you care and instil a sense of loyalty amongst them as well.

Work culture is a whole new ballgame

In a traditional office environment, it’s easy enough to establish a vibrant company culture but has it transcended the boundaries of the virtual world to your employees’ homes? Although it’s perhaps too early to expect them to have an uninterrupted work environment where they live, it’s definitely possible to carry your company ethos across.

It wouldn’t hurt surveying your employees to know a little more of what’s going on behind the scenes. What are the biggest challenges they face as they rearrange their life to adjust to working from home? These may range from managing stress caused by uncertainty about the pandemic to finding the right resources for their kids to learn from home. The resources your company offers will depend on the responses you get. The insights you glean can help your company remain agile while ensuring a great employee experience as well.

Voxco is trusted by researchers across verticals in 30+ countries. If you want a robust omnichannel online survey software to launch surveys at unparalleled scale, please click here.