For instance, you have been in the market for a few years and have impacted the lives of many customers. You should understand the view they have about the organization, its products, quality of service, etc. This exercise usually provides actionable insights to businesses that play an integral role in creating the roadmap for future strategy.
This exercise is known as The Voice Of The Customer Program. The VoC is a method that helps you understand how the customer perceives the company, its products and services, and what more they are looking for. Executing a successful VoC program is the difference between successful and unsuccessful companies.
Here is all you need to know about Voice of the Customer and how you can create a VoC program at your organization.
Table of contents
- What is the Voice of the Customer (VoC)?
- How does the Voice of the Customer Affect Your Business?
- How To Create The Perfect VoC Program At Your Organization?
What is the Voice of the Customer (VoC)?
The Voice of the Customer is a research method to collect customer feedback. A Voice of the Customer Program is focused on capturing vital input from the customers about your organization.
The information can be about the overall company, its product and services, customer engagement, and future solutions that the company may be working on.
VOC programs are designed to provide actionable insights to companies to improve customer experience management and ultimately increase the revenue and profits of the organization.
How does the Voice of the Customer Affect Your Business?
The Voice of the Customer program is critical for the long-term success of your business. The old saying ‘if you can’t measure it, you can’t improve it’ by Peter Drucker captures the importance of the VoC program in any organization.
Here are the key points on how Voice of the Customer impacts your business
1. Helps in spotting early signs of customer distress
2. Helps validate new concepts, solutions, and ideas
3. Provides the ability to customize products and services based on consumer expectations
4. Assists in increasing customer retention
5. Helps in the identification of customer solutions
How To Create The Perfect VoC Program At Your Organization?
Creating a perfect voice of the customer program at your organization is easier said than done. You need to have complete clarity about your business scenario, current actions, and the impact they can have on your business and its profitability.
You can take the following steps to create a perfect VoC Program in your organization
1. Identify broad questions
Reaching out to collect customer feedback is most work in any voice of the customer program. However, before you get into the exercise of gathering customer feedback, it is vital to set the contours of the VoC program. One of the most efficient ways of doing this is by identifying broad questions you are looking for answers to.
These questions can be related to the company’s perception, its products, and services, future strategy, or customer expectations. The idea is to identify broad questions that will drive your VoC program. Only after you have recognized these comprehensive questions can you think about setting a VoC program in motion.
2. Select the right tools
One of the most critical steps in your journey to create the perfect voice of the customer program is to select the right tool to collect customer feedback. There are several tools available in the market that can collect customer feedback. Today, intelligent knowledge management tools come incorporated with features to collect customer feedback to avoid buying more software indirectly.
It is also essential to understand the techniques you would be using to collect customer feedback. Methods like online interviews, in-person interviews, emails, focus groups, live chat, social media, customer form, or any other customer touchpoint can be used to collect customer feedback.
Once you have outlined the techniques that you would want to use, it is better to then look at the possible solutions that can be used to collect customer feedback.
3. Collect feedback and data
Once you have selected the right tools as per your requirements, it is now time to collect feedback from the customers. At this stage, it is essential to remember the broad questions that you identified in the first stage and create a feedback mechanism that helps you answer those general questions at the end of this exercise.
Also, the techniques you selected in the previous steps would be set in motion to ask the customer the questions you need answers to.
With a knowledge management platform like Knowmax, you may also get feedback from support teams who are constantly in touch with the customers to determine whether customers are satisfied with the resolution.
4. Analyze the data collected
After the data collection exercise is complete, you should analyze the data collected. There are two parts to it. The first level of analysis would be done by the tool itself, where you would be able to generate insights about how your customers have voted or answered. On an AI-powered platform like Knowmax, you can directly get micro-segmented analytics of the users.
In the next stage, you can create a small team that will analyze the data and develops actionable business insights. These insights can help you understand customer behavior and answers to the identified questions in the first step.
5. Put an action plan in place
Now that you have completed collecting customer feedback and analyzing it, it is time to put an action plan in place to resolve the customer pain points and provide a better customer experience. This action plan will help you achieve the profitability targets that you have set for the company in the future.
Knowledge management platforms like Knowmax help you put your thoughts into action by bridging the gap created between your customer service and customer experience through various knowledge management tools, including interactive self-help picture guides, articles, and more.
Creating and executing a Voice of the Customer program in any organization takes serious effort. You must identify the broad questions and techniques to collect customer feedback and select the right tool as per your requirements.
In the second stage, you would have a knowledge base that you would want to use for your business goals. As part of this stage, you can integrate your customer feedback tool with a knowledge management system like Knowmax that will help you work on the insights that you have generated in the first place.