Bsquared specialises in helping B2B improve customer engagement and customer retention through the best use of Voice of the Customer. Here we share our views on VoC best practice.
- Why is it important to listen to the Voice of the Customer
- How to set up a Voice of the Customer programme
- What are the best data gathering methods?
- What is actionable data?
Why is it important to listen to the Voice of the Customer
Measuring and monitoring your customer sentiment will bring powerful insights. Getting the best from the Voice of the Customer is from an ongoing conversation through which you can understand if you are meeting your customers needs.
Gathering customer insights allows you to identify their satisfaction with your services and the likelihood that they would recommend you. You can be much smarter by understanding how your company fits into your customers' future plans and what level of confidence your customers have in you to deliver against their expectations.
Benefits to the organisation include:
- Enhance existing commitment and clarify customer / supplier relationships
- Provide data upon which informed business planning decisions can be taken
- Identify customer issues and actions required to prevent customer dissatisfaction
- Identify new product, service or business opportunities and improve performance / delivery
- Better understand your competitive position
How to set up a Voice of the Customer programme
Creating a robust, company-wide VoC requires commitment, investment and creativity. It also needs to be supported from the very top of the organisation. It should be part of the customer journey, clearly identified as another touchpoint for the customer.
The network of contacts within your customers if often extensive. Feedback can be obtained at an operational level and deeper insights can be gained at a more senior level.
Customer contact mapping and customer journey mapping are useful tools.
- Review the most appropriate approach to target customers
- Content based on the objectives and common metrics for comparison and benchmarking purposes
- Identify key customers, key influencers and decision makers
- Agree a project plan, communication plan and associated timeframes
- Identify stakeholders and target population
What are the best Voice of the Customer data gathering methods?
This depends on what kind of analysis you are looking for. Indepth analysis about customer future expectations and plans will require a face-to-face review type of activity, whereas gathering tactical customer sentiment can be achieved through a survey.
- Qualitative - gather data about expectations and opinions from key decision makers and influencers in the most important customers
- Quantitative - comparative metrics
- Combination of face-to-face reviews, telephone interviews, online surveys
- Allows comparison across customers, segments, teams and over time
What is actionable data?
When you set up a Voice of the Customer programme, part of the planning will be to look at what data you require. Gathering insights and getting actionable data will drive business performance, customer retention and generate customer loyalty.
- Immediate 'red flag' actions
- Quantitative data - overall customer metrics, by team, by geography
- Qualitative information - measurering actual customer perceptions, strengths and areas for improvement
- Action planning