Recently, I read Right Now’s Customer Experience Impact Report 2010, and it brought home many of the observations Beyond the Arc has made during Voice of the Customer (VoC) engagements. The report reinforces our belief that capturing and analyzing feedback from customer touchpoints is an effective and relatively inexpensive way to understand how your customers feel about you. A VoC program can also help you to determine how to act on that feedback for the benefit of your customers and the company.

Highlights from the Report

We all know that customer service is a key element in the satisfaction and retention equation. What may be surprising, though, is how important good customer service really is.

  • 85% of respondents said that they are willing to pay up to 25% more to “ensure a superior customer experience.”
  • 55% of respondents are willing to recommend a company due to outstanding service, more than will recommend due to superior product or price. Great experiences drive revenue, because happy customers spend more.
  • A single bad experience resonates—and not in a good way. Rudeness and lackadaisical response are cited as primary reasons for leaving.
  • Nearly 100% of respondents have taken action because of a bad experience, and nearly 80% have told someone about it.
  • Customers will return—though nearly 50% need proof that a company has improved customer service.

Do You Want to Know or Do You Need to Know?

We think VoC programs are not a ‘nice to have’ but a ‘need to have.’ A VoC program helps you create an enterprise view of your customer base, and zero in on the actions you can take that will have the greatest impact on business outcomes.  Done right, you’ll be able to cultivate customer advocates and boost your bottom line.