For building a great business continuous acquisition has to be supported by a steady customer retention. Since customer retention is less expensive than new customer acquisition, hanging on to your customers will prove to be the most cost-effective strategy for your business.
Knowing your customers, what they like, what they don’t like and giving priorities to their expectations is the key to successful business.
Customer satisfaction surveys are a great source to hear the VOC and realize whether the customers are interested in doing business with you, what do they like or dislike about you and make them aware of new information about companies such as innovations or changes, and vehicles of establishing customers’ viewpoints.
Ignoring the VOC may impact your business in the following ways-
- Loss of reputation
- Low customer retention
- Non-converting leads
- Drop in Customer lifetime
- A downward spiral of profits
To avoid such impacts a data-driven plan should be developed to provide finest customer experience.
- Analysis – Understand what the customer wants
It includes questions regarding the customer experience, satisfaction, and loyalty. It is the need of the hour to monitor customer perspective. It can be done through
- Surveys – Designed to gauge a customer’s evaluation of their cumulative experience with your product or service. Tools which may help understand your customer better- Google Forms, Poll Everywhere, Twitter Polls, Wootric, and CustomerSure.
- Social Media – A lot of customers use social media channels to share their experience with a product/service. Using social media as a channel to thank your customers or address their concerns goes a long way in establishing a rapport with them. Eg- Creating a Facebook page or twitter handle where the customers can directly highlight their grievances.
- Online Review sites – Customers often resort to the reviews shared by others on popular business review sites before making a choice. Customer experience is one of the most sought-after topics on these review sites besides the obvious product/service quality. Google My Business, Amazon, Yelp and Yellow pages are few examples of top online review sites.
- Online chats – Nudging your customers with a friendly greeting on your website will engage them in conversations. Proactive chat communication can be used to help your customers understand your services/products easily, address their queries, hence providing them with a better customer experience.
- A range of other communication channels can prove helpful in understanding the voice of customer like, calling a company and speaking to a customer agent, Instant messaging, click to call, Help or FAQ on a company’s website etc.
- Strategize – Develop procedures on the basis of detailed analysis
Once a thorough analysis has been conducted, build up a flexible mechanism to meet the requirements of the customer. Further, make customers aware of such mechanisms.
Example – Hire a customer experience management team working exclusively for improvement of customer experience. When customers have a go-to point of contact, they are less likely to vent out their anger on other public channels hence mitigating the adverse effects customer dissatisfaction.
- Customer Feedback- Understand what the customers think about your efforts and whether any modification is required.
Customers have the sole authority to judge the product/service provided to them. Accept the judgment and optimize business processes accordingly to improve quality of service. Develop, test and refine new products/ services including the post-purchase service by constantly monitoring user’s perception.
As an aware business-person, you must be aware that retaining, marketing and educating the customers regularly is a non-negotiable requirement. Some major tips for it-
- Make the customers aware of the fact that you stand by what you say, this is how you can create real connections with them.
- It is easier and cheaper to fulfill an existing demand than to create one. Identify your target customers down the last detail and then craft a message that matches their pains, goals, and aspirations.
- Utilize the positive social proofs to motivate customers, it acts as the most effective strategy to get people to listen.
- Capture your product’s momentum and share it with the customers. Create excitement with current customers by showing them what your latest features let them accomplish.
- Deliver surprise reciprocity and delight to the customers. Delighting the customers is good, but it works best when done as a surprise.
- Introduce the personal touch in your services. Every customer should feel equally important.
- The speed of delivering service is secondary to the quality and completeness of service delivered. Be “courteous, willing, and helpful,” before being “speedy”
- Choose the right platform to lure your customer and win their loyalty. Pick the channel that makes the most sense to your business. Hosting companies, for example, know that live chats are critical when their customers ‘sites go down; other companies may have customers who prefer using self-service or even phone support.
- Support to consumers shall clearly identify cause and effect and accordingly solve both.
- Make your ideal customers, your VIP’s, but this only works when people know there is a class below them on the pole.
Understanding the impact of VOC on product and business growth, NHANCE has come up with a free VOC tool that shares the latest industry-specific news and competitor mentions specific to the brand. Pay attention to your customers feedback to ensure a healthy personal relationship with consumers, which in turn will increase consumer satisfaction and brand loyalty.