Voice of Customer Programs

Effective Voice of Customer (VoC) programs enable organizations to systematically collect, analyze, and act on customer feedback across the entire journey.

Key VoC Program Challenges:

1. Feedback Fragmentation – According to Qualtrics XM Institute (2023), the average enterprise collects feedback through 7.2 different systems, making holistic analysis difficult.

2. Closing the Loop – Gartner's Customer Service Survey (2023) reveals only 26% of organizations consistently follow up with customers after receiving negative feedback.

3. Actionable Insights – Forrester's CX Measurement Benchmark (2023) shows 61% of companies collect customer feedback but only 23% successfully translate it into concrete improvement actions.

Effective VoC Strategies:

• Unified Feedback Ecosystems – According to Medallia's Customer Experience Benchmark (2023), organizations with integrated feedback platforms are 53% more likely to identify cross-journey issues driving dissatisfaction.

• Real-Time Alerting Systems – KPMG's Customer Experience Excellence report (2023) demonstrates companies with automated closed-loop alerting resolve issues 72% faster and improve retention by 14%.

• Text Analytics Capabilities – According to Clarabridge's Voice of Customer research (2023), advanced text analytics increases the actionable insight rate from unstructured feedback by 67%.

Key Takeaway:

Harvard Business Review's ROI of Feedback study (2022) confirms organizations with mature VoC programs achieve 55% higher customer retention rates and 23% greater share of wallet compared to organizations with basic feedback collection.

Book a Free Session with The Glocal Partners to discuss more details!

References:

• Qualtrics XM Institute. (2023). State of Customer Experience Management. https://www.qualtrics.com/xm-institute/

• Gartner. (2023). Customer Service Survey. https://www.gartner.com/en/customer-service-support

• Forrester. (2023). CX Measurement Benchmark. https://www.forrester.com/report/cx-measurement-benchmark-2023/

• Medallia. (2023). Customer Experience Benchmark. https://www.medallia.com/resource/customer-experience-benchmark-report/

• KPMG. (2023). Customer Experience Excellence Report. https://home.kpmg/xx/en/home/insights/2023/customer-experience-excellence-report.html

• Clarabridge. (2023). Voice of Customer Research. https://www.clarabridge.com/resources/voice-of-customer-research/

• Harvard Business Review. (2022). ROI of Feedback Study. https://hbr.org/2022/08/the-economics-of-customer-insights