Today, everyone recognizes the link between customer experience and long-term loyalty. Companies have a real opportunity to solidify relationships with existing customers by providing a great experience every time. The benefits are tremendous – on average, loyal customers are worth up to 10 times as much as their first purchase.
To boost loyalty, more and more companies these days are fast tracking their customer experience enhancement projects. The first question they invariably ask is – what do my customers actually want? Now more than ever before, businesses are looking to their Voice of the Customer programs to understand what the customer is saying and act on that feedback to improve customer experience and business performance. Today companies need more than just Net Promoter Scores and aggregated customer survey data – they need to listen to customers if they want to understand why the feel and behave the way they do.
An effective Voice of the Customer program will tell you where your customer experience is strongest and where it is weakest. More importantly, it will tell you why customers feel that way and how those areas can be improved.
Design Tips for Tuning a Voice of the Customer Program for Loyalty Initiatives
To learn where you customer experience is over or underperforming – and to determine how to boost customer loyalty – you need to make sure your Voice of the Customer platform is appropriately configured to meet these goals. Here are a few tips for how you can ensure you will reliably collect the information you need:
1. Collect feedback and ratings across every customer touchpoint.
In a digital world, it’s not enough to have an optimized website or an efficient call center – every touchpoint needs to provide a great experience. Therefore, it is critical that your Voice of the Customer platform capture details on every customer interaction across every touchpoint. Pay particular attention to loyalty-centric communications channels such as email, social media, your “my account” pages on your website and mobile app, and other loyalty-focused promotions.
2. Ask customers to provide ratings and feedback on specific topics.
When you ask your customers for feedback, be sure to guide their response to the specific topics and areas you are most interested in. Make sure your questions are relevant to each stage of your customer journey and fit the context in which you are asking the customer for feedback. While it is important to give your feedback messages some format so you get more reliable responses, be sure to leave an “Other” topic where customers can share freeform feedback. This lets your business capture incredibly important details that you hadn’t considered previously.
3. To maximize insight, attach the customer’s journey profile and metadata to their feedback and rating.
This will help you map the customer journey and understand your customer personas. As you gather feedback, you will learn where and why your customers are frustrated or delighted. Analyzing the feedback by customer value will provide the actionable information you need to make meaningful changes. As feedback helps you improve the customer experience, you will see your customer loyalty and satisfaction ratings soar.
Customer satisfaction, loyalty and retention are key metrics for any organization – understanding the factors behind the numbers is more important than ever. Only by understanding what customers really want can companies create the experiences that will breed loyalty over the long run.
To learn more about optimizing your Voice of the Customer programs, schedule your complimentary expert customer experience consultation with a customer success manager specializing in your vertical today.