Use Voice of the Customer Data for a Competitive Advantage

Posted by Linda Caudle

7/11/14 10:44 AM

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In today’s highly-competitive marketplace, your company needs every advantage it can get. If you haven’t considered using voice of the customer data (VoC) to help provide that edge and improve the customer experience perhaps it’s time to try it out.

Below are four ways in which voice of the customer data can help your business gain a competitive edge:

  1. Determine customer satisfaction: VoC data provides valuable insight into whether customers are satisfied or dissatisfied. Remember, customers often don’t overtly speak up to voice their dissatisfaction--they simply take their business elsewhere. Clues to customer satisfaction levels must be divined from their everyday interactions with your company.
  1. Retain customers and increase market share: Voice of the customer data clues you into customer desires and preferences. This can enable you to tailor products and services to their exact needs, thus boosting loyalty and retention.
  1. Increase efficiency and productivity: You’ll also find out what customers don’t want or need when you start capturing voice of the customer data. This will allow you to cut out unneeded products and services and streamline operations to achieve greater efficiency, thus bettering your bottom line.
  1. Improve overall service: VoC data can help your company target areas for customer service improvement by letting you know what’s working and what isn’t in your interactions with customers. You can then develop training and service improvement initiatives based on the data you mined.
Capturing, analyzing, and acting on voice of the customer data is one surefire way to gain an edge in today’s competitive marketplace. Click here to see how we can help you start a VoC program.

Topics: voice of the customer