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But unless you actively seek and listen to what they’re saying and analyze customer behavior, your products and services will likely be out of sync with their evolving expectations. However, raw feedback data taken at face value can miss the mark and lead to flawed assumptions about what customers really care about.
That’s the power of customer experience insights—real-time feedback and data-driven analysis that help businesses understand what customers want, what frustrates them, and how to improve their journey. Companies that actively apply customer insights boost retention, loyalty, and competitive advantage.
Research by the Aberdeen Group found that companies with a high-quality VoC strategy saw almost 10 times annual revenue growth due to higher customer retention. A robust Voice of the Customer (VoC) strategy is no longer optional. It's essential for driving loyalty, refining your offerings, and boosting your bottom line.
Yet 68% of businesses reported their customers were “very satisfied” This just proves that many companies don’t really know their customers as well as they think they do. A solid Voice of Customer program helps you listen to your customers and take their opinions into account in your business decisions.
She leads the XM Institute’s research into CX and EX best practices and the broader organizational capabilities required for building loyalty by improving customer and employee experiences. His Customer Insight work is focused on developing innovative segmentation, targeting, analysis, and measurement solutions. Frank Eliason.
She leads the XM Institute’s research into CX and EX best practices and the broader organizational capabilities required for building loyalty by improving customer and employee experiences. His Customer Insight work is focused on developing innovative segmentation, targeting, analysis, and measurement solutions. Frank Eliason.
He is an author of Moments of Magic®, The Loyal Customer, The Cult of the Customer, The Amazement Revolution, Amaze Every Customer Every Time, Be Amazing or Go Home, and The Convenience Revolution and a creator of a customer service training program, Customer Focus , aiming to help clients build a customer service culture and loyalty mindset.
In ClearAction’s five-year global study of business-to-business customer experience management practices, coordination among managers of various customer experience efforts was correlated with business growth. Imagine the impact this has on customers, especially when programs are managed separately for each solution the customer buys.
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