Voice of the Customer and Why It's Essential

Perhaps you’ve heard the term Voice of the Customer (VoC) but not really understood what it meant or the true implication it can have for your business. At its core, VoC aims to capture what your customers say, think, and feel about your organization. In essence, it is their actual voice, because they are given the outlet to share it. 

Many think that VoC is surface-level data, but it’s so much more than that; it’s a window into what customers value most. Focusing on VoC can, and should, drive how you better reach your current customers and the ones you hope to acquire.  

Debunking Myths

As with most things, there are a variety of misconceptions and myths around VoC. Let’s take some time to debunk a few common ones.

Myth #1: VoC = Just another survey

You can absolutely capture VoC using a survey, but when you’re ready to really focus on your VoC strategy, you can’t only turn to surveys. There is so much nuanced data they miss. Voice of the Customer should blend quantitative metrics, such as Net Promoter Score (NPS) and customer satisfaction surveys, with qualitative data, such as customer interviews.  

Myth #2: VoC isn’t necessary 

The voice of your brand is unique to who you are, but it won’t reach your target audience if there isn’t a value proposition that speaks to solving a problem your desired customer actually has. VoC will help uncover the actual needs of your customers. You need VoC not only for marketing, but for operations, leadership, and every function that works to serve your customer. Forrester found companies who are “customer obsessed” grew by 41%. That doesn’t just make VoC necessary, it makes it essential for growth. 

Myth #3: VoC is only for big brands

VoC is a revenue engine for businesses of all sizes! But remember, no matter how you decide to go about obtaining VoC (surveys, chats, conversations, etc.), it is vital that you act on the information you’re given. 

The VoC Benefits 

Deepens Loyalty and Reduces Churn

Customers are looking for quick responses from businesses. Customers are also savvy and have a plethora of information at their fingertips to research options. When you take the time to truly listen to your customers, and then act on what you hear, it will help you build loyalty and turn your customers into your greatest marketing agents. 

Fuels Strategic Growth

VoC data unveils unmet needs and expectations, enabling targeted innovation and marketing—such as improving programs based on insight from real user experiences. 

Lowers Costs and Maximizes ROI

It costs less to retain a customer than to acquire a new one. Listening to your customers can help you lower overall costs by retaining the terrific customers you already have. Data from Harvard Business Review also shows that satisfied customers will spend 140% more. That's clear financial impact in listening to what your customers have to say and acting on it.

It Just Matters. Period. 

The short and sweet of it is this: Your customer doesn’t want to be a data point. They are human, and there’s no greater call than to serve your customers well and with integrity. By allowing your customers an opportunity to share feedback about their experiences with your business, you’re giving them something that feels unique. They feel valued. And it’s not a marketing ploy, it’s service to others.

Brands today are competing on more than just their offerings, they are competing on overall experience. At ElucidCX, we don’t just collect feedback, we surface actionable insights based on face-to-face conversations with your customers and help you turn that data into lasting change. If you're ready to make Voice of the Customer your strategic driver, let’s set up a discovery call to explore how we can help your organization harness its full potential.

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