5 Steps to Driving Sales with Customer Insights

Long gone are the days of mom-and-pop shops where a proprietor knew a customer’s favorite detergent, the names of all three of his kids, and the challenges he faced day to day. While decades ago deep customer knowledge was readily available, today’s global economy prevents the scale of this type of intimate customer knowledge.

These days organizations of all sizes rely on Voice of the Customer (VoC) programs to uncover actionable insights that can lead to business benefits ranging from increased sales to higher customer retention. In fact, according to a Forrester survey of customer experience professionals, 81 percent of respondents either had or were actively considering a VoC program.

Yet while VoC programs can deliver enormous value, many companies stop short of converting transactional, relational and feedback data into insights that can improve product offerings, create referrals, increase repeat business, and lead to new strategies. While there are many methods for collecting customer feedback, simply capturing feedback and transforming it into actionable customer insights is not enough. In fact, 65 percent of respondents in the Forrester study admitted their VoC programs don’t systematically take action based on customer insights, thereby failing to drive valuegenerating activities.

Fortunately, there are proven strategies to ensure an organization’s VoC program identifies what matters most to customers, facilitates better business decision-making, and drives revenue. Read on to discover the top 5 secrets to creating a successful VoC program with real business benefits.