In February 2013, Forrester Research released results on a study they conducted on Customer Service. In addition to general findings on Customer Service as a function, this report included important observations on Voice of Customer programs: “Trend Five: Voice of The Customer programs are operationalizing insights”. Here are the key insights along with solutions to the VoC program challenges presented.
”It is critical for a company to receive feedback about its products, services, and organizational processes so that it can optimize the customer experience. In 2012, Forrester saw more companies (68%) adopt voice of the customer (VoC) programs than in 2011 (55%). However, companies struggle to distribute the analyzed data and act on pertinent feedback to deliver quantifiable business value.20
VoC programs also continue to face serious resource constraints: only 23% of respondents reported having adequate resources.”21
Consider ‘hard wiring’ an automated VoC program process into your Sales & Marketing technology to distribute the analyzed data to enterprise stakeholders in customer service, sales, marketing, management and other operations. When VoC dashboards and reports are made available across your internal organization, you’ll gain the power to understand your buyers’ sales status and their unmet needs in order to take immediate action. Thinking like a buyer, what could more impactful to improving customer satisfaction and growing sales than listening to your customers and proving their input matters?
An automated VoC program is so powerful in increasing sales that we’ve made it a standard feature in NitroMojo.
“In a survey of customer experience professionals, two-thirds of respondents reported that their VoC programs did not deliver financial results due to the inability to calculate these results. However, those who do connect the dots successfully told us that their VoC efforts drive retention and growth metrics.”
Calculating accurate sales outcomes, the value of customer acquisition, retention goals and marketing ROI can be accomplished simultaneously if the sales and marketing technology utilized is capable of collecting the necessary data elements to deliver the desired measurement metrics.
When selling through distribution channels, connecting the dots that separates your organization (sales, marketing and customer service) from end-buyers and their distributor partners is the most pressing challenge.
Take marketing ROI measurement as a prime example. ROI is impossible to calculate without an easy process to receive outcomes on the sales leads you’ve turned over to the distribution channel partners who transact a purchase with an end-buyer. Further the most reliable sales outcome information of all must come from the mouths of your customers in a well oiled VoC program that invites end-buyers to share sales information.
NitroMojo includes Distribution channel, VoC data and ROI algorithms to seamlessly measure VoC ROI.
“VoC programs continue to face serious resource constraints. For the past two years, only 23% of respondents report having adequate resources. And fewer than half say that their data collection and analysis tools are sufficient. With strapped resources, it’s no wonder companies aren’t getting the desired impact from their VoC programs.”
When an automated VoC program is executed directly from a Sales & Marketing technology, the internal resources and expense factors are drastically reduced. Three significant reasons support utilizing this VoC model:
- The major resources required for automating a VoC program involve utilizing components already in place: participation solicitation, database management, data collection and reporting.
- Reporting VoC results across the internal enterprise eliminates creating a new silo of information and the need for additional handling to share findings.
- VoC results (dashboards and reports) can be reported within the Sales and Marketing technology along with other business reporting that touches the customer (Marketing ROI, Sales, Sales Pipeline, etc.)
When a VoC program is integrated into a sales and marketing technology, reacting to dissatisfied customers and meeting expressed ‘next step’ needs can be swiftly accomplished.
NitroMojo technology completely automates the VoC process to provide a continual stream of customer feedback presented in real time reports and dashboards.
(1) Source: Forrester Research – Navigate the future of Customer Service (2013)
20 In a survey of 102 customer experience professionals, two-thirds of respondents reported that their VoC programs did not deliver financial results due to the inability to calculate these results. However, those who do connect the dots successfully told us that their VoC efforts drive retention and growth metrics. See the October 2, 2012, “The State Of VoC Programs, 2012” report.
21 VoC programs continue to face serious resource constraints. For the past two years, only 23% of respondents report having adequate resources. And fewer than half say that their data collection and analysis tools are sufficient. With strapped resources, it’s no wonder companies aren’t getting the desired impact from their VoC programs. See the October 2, 2012, “The State Of VoC Programs, 2012” report