6 Reasons Why A Company Needs To Hear The Voice Of The Customer

The focus on offering excellent customer experiences has increased worldwide in recent years. What was once a luxury, in which only a few companies had the resources to invest, has now become a staple on the CEO’s agenda.

In a very competitive world where customers demand a personalized experience, knowing and understanding them is crucial. But how to do it well?

We have more data than ever, but extracting information from that data to understand the “voice” of clients is difficult. Although people are more aware of VOC today, their level of maturity in organizations is very different.

What Is The Voice Of The Customer (VOC)?

“Voice of the Customer” or VOC is the collection of wishes, needs, expectations, and tastes of customers. These can be organized in a hierarchy and sorted by relative importance and impact.

The Voice of the Customer provides an “unparalleled vision of what your customers really want from a business and product.” Many organizations believe that by collecting comments and conducting surveys, they have implemented a VOC program.

Actually, a VOC program is the complete process of collecting customer comments in one place, analyzing the data and ensuring that the relevant people in the organization have the information readily available and, most importantly, the action.

Only this will allow organizations to be fully customer-centric with a focus on increasing user satisfaction.

6 Reasons Why A Company Needs To Hear The Voice Of The Customer

According to Gartner, more than two-thirds of organizations say they compete primarily on the basis of customer experience. And within two years, 81% expect to compete mostly or completely on the basis of CX.

Therefore, knowing what customers think about the CX and the products / services, and how to improve them, is key.

The main benefits of Voice of the Customer programs are being able to measure a customer’s experience in critical contact points in real time. So, one of the best things you can do is ask the clients what they want and do everything possible to build a relationship.

1) Improvement Of The Customer Experience

Listening to customers ultimately means creating a better experience for the customer over time by driving change in the right places.

2) Better Products And Services

The Voice of the Customer provides a good direction for the development of products, as well as innovation to develop improved products that customers appreciate and that best suit their requirements. According to experts, it provides a common language to advance in the development of products.

3) Improvement In Decision-making

With VOC programs, organizations can make highly informed strategic decisions that contribute to a positive return on investment and, ultimately, to a better customer experience.

4) Improvement Of The Operational Processes

In the long term, a Voice of the Customer program can also reduce internal costs by improving their organizational processes. How? By allowing focus resources where it really matters and focus on the needs of customers.

5) Growth Of First Line Revenues

According to Gartner’s research, the collection of comments can increase success rates between 15% and 20%. In addition, with a well-implemented Customer Voice program, the customer retention rate can be increased.

Likewise, customer feedback can help reduce the cost of retaining customers, since companies that actively participate in VOC programs spend 25% less on customer retention than those that do not, according to Gartner.

6) Improvement Of The Score Of NPS

The Voice of the Customer and the Net Promoted Score (NPS) go hand in hand: by understanding the clients and addressing their concerns, as well as by administering the VOC program correctly, the Net Promoted Score is positively affected.