VOC (Voice Overload) is an important technique that people in CX (Critical Trading) must know.
Modern marketing focuses on enhancing the customer experience (EX), but before engaging in CX, brands must first implement a Voice of Customer (VOC) program.
What is VOC?
Voice of Customer (VOC) is a marketing technique first used in research at MIT in 1993. It focuses on listening to customer experiences, such as through interviews or surveys, to understand their understanding and expectations of a product or service. Many brands have implemented VOC programs to learn about and improve customer experience.
Benefits of the VOC program.
The data obtained from the VOC program will be used to analyze customers in the marketing process. Furthermore, it can be used to analyze the sales process, customer retention, reduce service costs, and increase revenue. The VOC program reflects the effectiveness of a brand’s marketing and sales, and is a key tool for improving products or services to provide an excellent customer experience.
The VOC program consists of two main parts: the VOC process and VOC metrics.
The VOC (Volatile Organic Compound) process has 3 steps.
Step 1: The process of collecting customer feedback from all contact channels and entering the data into a VOC spreadsheet or dedicated platform. In this step, customer feedback can come from various sources, categorized as follows:
Direct feedback: This refers to feedback received directly from customers, such as surveys, questionnaires, and chat log feedback.
Indirect feedback: This refers to comments made when customers talk about the brand through social media and posts on other websites.
Referrals refer to feedback received through transactions and actions across various brand channels, including websites, emails, and mobile apps, such as user data collected via Google Analytics.
Step 2: Analyze the data to identify trends in expectations, needs, pain points, and other aspects of customer behavior in relation to the data.
Step 3: Once the trend data is obtained, the brand must take action to implement positive changes. This includes modifying operational processes, improving products, enhancing services, updating the website, or adjusting sales methods. The brand may need to make adjustments periodically until CX improves or pain points are eliminated.
VOC Metrics
This metric uses data obtained from the Voice of Choice (VOC) process to help brands prioritize goals in alignment with customer objectives. Consistent use of VOC metrics can lead to more effective marketing and sales strategies and increased ROI.
Key VOC indicators include:
1. Net Promoter Score (NPS) :
The score at which customers would recommend the brand to family, friends, or acquaintances.
2.Customer Effort Score (CES) :
The score reflects the effort customers put into trading with the brand.
3.Customer Satisfaction Score (CSAT) :
Customer satisfaction scores based on their brand experience.
4.Customer Loyalty Index (CLI) :
This index measures customer loyalty to a brand and indicates whether or not they are likely to become repeat customers.
5.Customer Lifetime Value (CLV) :
It measures revenue generated from customers and customer spending trends from the past, present, and future.
6. Repurchase Ratio :
The ratio of future repeat purchases.
7. Would You Miss Us? (WUMS) :
It’s about asking the question: will customers miss the brand if it no longer exists?
summarize
Although there are many VOC (Voice Overhead) metrics, not all of them are suitable for every stage. Many brands focus on only one metric, leading to errors in VOC programming.
