How Classifying Data Drives Value in Your Voice of the Customer Program

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Co-author: Gavin James

In simplest terms, a Voice of the Customer (VOC) program captures your customers’ experiences and feeds them back into the organization to drive improvements that help grow your business. Whether customers feel good or bad about their experience with your products and services, your VOC effort enables you to hear [...]

Using the customer lifecycle to improve your Voice of the Customer program

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Millions of consumers interact with banks each day to manage their finances. As technology evolves, customers have the flexibility to interact with their bank through a wide range of channels, moving beyond the branch and snail mail, to an increasing reliance on social media and mobile banking. With the rapid growth of online communication, retail [...]

Emerging Issues – Stay ahead of the curve with your Voice of the Customer program

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2011 was an important year for Voice of the Customer (VoC) programs in the financial services industry.  Many banks and credit unions adopted new Voice of the Customer initiatives, and companies with existing VoC programs began to harness their full potential with new types of analyses.  Some companies monitor customer feedback to determine the top [...]

Transforming negative sentiment into a winning customer experience

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When customers have a bad experience, they’re often more connected to how they FEEL about it, than the issue itself. That’s why you need to sharpen your focus on how people react to your business. Timely and effective communications can help you manage negative sentiment, rebuild trust, and promote loyalty.

If customers voice disgruntled opinions [...]

A Tale of Two Acronyms- Why a VOC program is essential for a comprehensive CSR initiative

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Companies across the world are beginning to establish Voice of the Customer (VOC) programs – using text analysis and other tools to listen to their customers on a large scale.  They are monitoring feedback in a way that was previously impossible, and are changing their businesses based on what they hear.

Meanwhile, Corporate Social Responsibility [...]

Making communications more effective by leveraging customer insights

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In today’s business world, real ROI and long-term profitability come from optimizing the customer experience –and a key part of this is effective communications. From marketing to servicing, through interactions across all touch points, you need to communicate in ways that resonate with your customers.

So how do you figure out what to say and [...]

How predictive analytics is improving Voice of the Customer programs

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Voice of the Customer programs are evolving as predictive analytics and text mining expand a company’s ability to understand, and react to, customer complaints, suggestions, and feedback. We recently asked our colleague Bruce Johnson, a data mining expert with over 20 years of experience in the field, to share a few musings.

Here’s Bruce’s take:

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Building buy-in with your customers

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Do your customers embrace you as an ally? …or tolerate you as a necessity?

Think about an industry such as financial services. Most people need to rely on banking to manage and grow their money, because at some point the hiding-it-under-the-mattress strategy doesn’t scale up. But for many customers, banking isn’t fun or inspiring; it’s [...]

Using all your data to maximize customer satisfaction

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Wondering how to put data analytics into action and achieve impressive results?

Please join us for a live lab session at the Predictive Analytics World Conference in San Francisco on March 15, 2011. Beyond the Arc CEO, Steve Ramirez, will show you how our management consulting team has helped one of the world’s largest banks [...]

Get fast results with our Voice of the Customer QuickStart program

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Are your senior executives looking for a quick return on your Customer Experience efforts? Beyond the Arc can help. Our Voice of the Customer QuickStart program helps financial services clients focus on key customer touch points, understand the data requirements, and build models to uncover insights in a short, clearly defined timeframe.

Financial services organizations [...]