VoC ensures better customer traction by understanding the target demographic and changing business strategies.

In the current scenario, business growth is directly proportional to customer satisfaction. Customers are the focal point of every industrial service. While there are many upcoming digital tools that work efficiently in elevating business growth, technologies like AI and NLP have helped in studying the target demographic. If we go by the famous Steve Job quote, “You’ve got to start with the customer experience and work back towards the technology- not the other way around.” This is very evident in the present world, where instant feedback rule the internet. Everything gets reviewed and opinions spring up in seconds. Products now work on this feedback to identify customer needs. Voice of Customer, as the name suggests, is a process to understand customer behaviour to improve product designs. 

How Does Voice of Customer Work?

Voice of Customer program collects customer feedback, analyzes them, and uses the insights to improve business growth and customer traction. These days, users prefer direct engagement and VoC provides this. It works on ‘closing the loop’, where customer feedback is followed up. This proves that their feedback was considered and the problems were resolved. Conducting customer feedback surveys can help view the current trends and VoC can leverage the results to build better product designs and drive growth. 

Sentiment analysis is significant, especially in social media platforms. Retail businesses keep popping up on these sites to gain more visibility. Simultaneously it is important to analyze the feedback. The language on social media is more emotional in nature. NLP and AI-driven customer voice processes help understand the context and interpret the sentiments in the feedback. This is effective in identifying customer behaviour. 

Market intelligence is an imperative part of running an efficient business. The knowledge about changing market trends and customer behavior will help understand the flaws and how to rectify them. The constant interactions between customers and agents is a useful source to comprehend the preferences and complaints of customers. Continuous monitoring of customer behavior online can gain results. This makes it easier to understand what they are into and why they chose a particular brand over another, etc. 

The customer-centric management style attracts loyal customers and this will build the reputation of the enterprise.

How Does Voice of Customer Benefit the Business?

Listening to your customers can drive your business and invite more loyal customers. It makes the users understand that the brand cares and prioritizes them. There are various benefits of embracing the voice of customer system while doing business. 

• Product innovation is crucial for the development of business. Intermittent surveys to understand customer preferences will act as a tool to innovate products and services. VoC can be used to gather customer insights and make changes in product designs accordingly. After all, the success of the business will depend on the end-user experience.

• Improved customer experience will attract more traffic to the business. VoC system understands the likes and dislikes of customers. This process helps you to be in constant interaction with your customers. Hence, it becomes easier to track their behaviour changes and interests. Happy customers will spread the word around, gaining you more loyal users. 

• Revenue increase can be achieved through effective brand engagement and marketing. An increase in customers will increase the business prospect and hence, there will be a profit increase. 

• Brand management becomes easier by employing VoC tools. Once the business and its customers have established a direct channel of conversation, it is easier to get more traction. Changing your product strategies according to the user preferences will gain loyalty and satisfaction. Thus, it becomes unlikely that a loyal set of customers will take their complaints and frustration to the public platforms. Bad feedback on social media might tarnish the company’s image. 

Better Agility and Business Growth

Recently we all have been through a pandemic, which shifted our gaze towards being resilient and agile. Industries embraced digitization and automation to elevate business growth and hold a place in the market. Everything went online and this makes it easier to understand the customer. VoC plays a pivotal role in retaining customers. It provides better visibility of the needs and preferences of the target demographic. VoC is easier to adapt to as it is totally customizable. Customer experience is the key to achieve agility and growth.