What is “Voice of the Customer” all about?

  • Listen: This involves gathering customer feedback via surveys or interviews or from indirect channels, such as usage data, analysis of consumer conversations on social media platforms, or other behavioural metrics. Methods of gathering information include surveys (using web applications, feedback buttons, emails, mobile apps, chats), feedback boxes (quick comments), social media (such as, Facebook comments and tweets), customer interviews, user activity, and usability tests.
  • Act: Acknowledging feedback from each individual customer is extremely important, as it provides value to the customer immediately by addressing the root cause. There are two important points to this step:
  • Act on feedback immediately — respond to both positive and negative feedback. Acknowledging feedback with a thank you note would help the company maintain its net promoter scores (NPS). Addressing individual issues in a timely manner would also minimize the number of detractors, or unhappy customers. With social media penetration increasing and consumer sentiment being shaped significantly by peer feedback, it is imperative that companies continuously monitor customer feedback on their brands on social media platforms, such as Twitter and Facebook. A number of companies have now set up dedicated grievance-redressal teams to respond to customer feedback received through social media. For example, Amazon, UPS, and Intel have dedicated support accounts on Twitter to meet consumer demand for fast and personalised services. Companies also monitor hashtags and non-tagged mentions of their brands.
  • Have resources who can help close the loop at scale — handling unhappy clients is a big task; so it is vital to have a knowledgeable resource to handle such feedback swiftly.
  • Analyse: After gathering all the feedback and closing the loop with the client, analyzing and reporting the data collected and insights generated is important to be able to build the feedback into product/service development. Qualitative and quantitative insights help formulate strategic actions for future reference.
  • Quantitative data would include business analytics and outreach analytics. Business analytics encompass all the metrics a company wants to track and measure against a benchmark, such as, NPS trends and loyalty scores. Outreach analytics reflect the performance of customer outreach efforts. The metrics that could be used are total invitations sent, number of responses, the response rate etc. This would enable the company to know whether it needs to change the messaging, the invitations have reached customers, or customers feel their feedback falls on deaf ears.
  • Qualitative data is about analysing customer comments on a product, service, or experience with the company. These insights can be used to identify strategic priorities to improve customer experience.

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Acuity Knowledge Partners

Acuity Knowledge Partners

We write about financial industry trends, the impact of regulatory changes and opinions on industry inflection points. https://www.acuitykp.com/