The survival, success and profitability of your business depends on many factors, and any one factor falling out of place is enough to cause you to fail. One aspect, though, is more important than the rest: your customers’ experience. If your customers have a great experience with your company, your team and your products, then you will notice your profitability start to improve.
But the inability to manage how your customers view you will impact your future in a negative way. When you want to enjoy the best possible results, you must learn about the voice of the customer, or VOC.
What is the Voice of the Customer?
The voice of the customer is a type of market research that focuses on your customers’ response to you and the products that you provide. Learning about the VOC will help you make changes to your business model, and that will allow you to improve your public image and your sales.
If your customers dislike the direction of your business, it’s vital you take corrective action right away. When you start focusing your efforts on the things that your customers like most, you will also enhance your efficiency. In other words, learning about the VOC will allow you to experience more success than you once thought possible.
Taking a look at social media is a great step when you want to learn about the VOC in your market. You can manually monitor social media posts that are related to your brand, but you can also use tools to automate the process.
Take note of the likes and dislikes that your customers mention in their status updates, and take their feedback into consideration when making future business plans. If your customers want a feature that you don’t currently provide, implementing it into future products can impact your image in a positive way.
Simply asking customers what they want, like and dislike is one of the most overlooked methods when it comes to learning about the VOC. Encourage your customers to take a survey and to list how they feel about your products.
Many people won’t feel compelled to take a survey unless you offer them an incentive, so consider giving coupons and special discounts to anyone who completes your form. Keep records of each survey that you conduct, compile the data and list your customers’ top-5 concerns.
Because the satisfaction of your customers will determine the success of your business, learning about the VOC is not an option if you want to optimize your business. Although it might take some time, you will be rewarded for your efforts if you remain committed to customer satisfaction.
Using social media can work wonders to give you insights to what your market wants from you and what it dislikes, but it’s not enough on its own. Asking your customers to take surveys and to offer their feedback is a vital part of your success, and you will be amazed by your results when you do it properly.