The voice of the customer has never been so important. Now more than ever, customers expect instant replies and flawless customer service. So as the bridge between business and customer narrows it’s essential that businesses pay close attention to their customers’ voices.
Smart organisations listen and adapt to feedback. Voice of the customer enables two things, it helps to keep the customers you have already created and it helps to improve your products and services to attract new customers. Here are 9 reasons why listening to the voice of your customers matters more than ever:
- VoC creates authenticity. The voice of the customer is your most powerful and most authentic tool. Through VoC, you gain extremely genuine message information that cannot be gathered any other way.
- VoC drives action. It ensures customers’ voices are heard by decision makers and therefore promotes strategic change based on authentic feedback.
- VoC improves your NPS score. Businesses leveraging VoC have an NPS score that is on average 3x higher than competitors without one.
- It increases your return on investment. Businesses implementing VoC programmes see an average of 12.6% increase on their return on marketing investments, while those that ignore customer feedback see their ROIs decrease by approximately 9% year over year. Also, as we all know too well, the cost of keeping a customer is much lower than acquiring a new one.
- VoC increases revenue. Digital marketers employing VoC programmes improve their company revenue by as much as 10.9%
- VoC provides real time results. Customers’ opinions and emotions are ever-changing and VoC gives you the most up to date indicator of how your brand is performing. Users expect a more agile communication and a real time answer, making modern interaction constant and in-moment. Social media has reduced the metaphorical distance between businesses and their customers and the customer now demands the importance that they deserve within the business process at crunch time.
- VoC can help to anticipate and prevent risks in your business. VoC allows you to redirect decision making processes thanks to the anticipation of potential risks that may otherwise have gone unnoticed.
- VoC creates a customer-focused culture. Your customers are smarter and have more power and influence than ever. They are becoming more and more conscious of their power and rights and expect to influence products and services - they need to know their voices are being heard.
- VoC studies complement and explain your web analytic data. Even the best web analytics have their limits - you need to know the motivations behind users’ actions and only VoC makes this truly possible.
If you found this content useful, you should check out why consumers love sharing their opinions via video by clicking on the image below...