In a recent article, Ganesh Mukundan discusses the impact a Voice of the Customer (VoC) program can have on a business. If companies aren’t seen an increase in revenue and if they don’t retain a higher percentage of customers, then there is a solid chance their VoC program isn’t working properly. The article provides and discusses the following five problems that can get in the way of a VoC program:
- Not having a clear objective.
- Not having everyone on board.
- Being inconsistent with listening to customers, or ignoring them completely.
- Collecting feedback without acting on it.
- Gathering data and throwing it in a file, as though it’s a market research study.
No Brand Is In A Position To Ignore Customer Feedback
Mukundan’s article makes a crucial point; collecting customer data to understand their voice is pointless if you don’t take action on the info you collect. To be blunt, customers don’t need you in the digital age. If you don’t offer them a product or service at their standards for price and customer experience, they’ll simply jump to a competitor who will give them what they need.
A high percentage of customers have the ability to access the internet on their mobile devices, and they use this capability to research the best prices and ratings on brands before making a purchase. It’s never been easier to find the best deal or the best experience based on customer reviews. The company that ignores its customers’ feedback and interests will eventually lose revenue, especially as the Millennial generation and Generation Z become the primary consumers in the global economy. Listen to feedback and data and take action to ensure you’re improving your customer journey accordingly and you’ll begin to see positive ROI.
This blog post is based on an article from CustomerThink. To read the original article, please click the link below:
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