What is Voice of Customer and How Can You Leverage It?

Totango

According to research by workplace collaboration specialist Atlassian, less than 1 in 5 people believe companies listen to their feedback. Whenever a customer offers feedback, they are giving you an opportunity to make them happy—or at least happier. What is Voice of Customer?

How & why to restart your Voice of Customer program

Thematic

In this blog, we’ll discuss how to u nderstand your Voice of Customer (VOC) insights and why this is important. What are your customers actually telling you and how do you analyze this information to get to meaningful insights? What is Voice of Customer (VOC)?

Customer Retention vs New Customer Acquisition: How Do You Optimize Both?

Totango

Your customer only sees one brand. For them, customer attraction and retention blur together into one ongoing journey. . Knowing these different stages can be powerful for monitoring, servicing, and motivating customers, but it all needs to come from a unified, consistent brand.

Understanding the Real Impact of Improving Customer Retention

ChurnZero

Did you know: For every 1% increase in revenue retention, a SaaS company’s valuation increases by 12% after five years? This was just one of the takeaways from our well-attended webinar this week on- Understanding the Real Impact of Improving Retention and Customer Success Best Practices.

Customer Feedback Is Never Just a Score.

Lumoa

There's a company X that collects customer feedback. on a scale from 0 to 10) " after each customer purchase or interaction. The company X doesn't ask why the customers are giving the score. The company X started to contact its customers and finally ask why.

The #CX Proof is In the (Diet) Pudding

CX Journey

Image courtesy of beetlecakes I have a few questions for you about your company: Are you focusing on acquisition or retention? Are you rebranding your image or are you reinventing the customer experience? Do Your Customers Talk About Your Products or Your Ads?

24 Experts Reveal Their Top Customer Retention Strategies For B2C Brands

Storyminers

In today’s competitive marketplace, consumers have an increasing amount of choices- and they aren’t afraid to try them. There always seems to be a new product, service, or experience within reach of a brand’s current customer. And as we all know, replacing an existing customer costs 7 times more than retaining them. So how do you ensure your brand is retaining its precious customer base? VP of Customer Experience, Compellon.

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5 Fails to Avoid with Your VoC Program

CX Journey

Image courtesy of Pixabay I originally wrote today's post for CallidusCloud CX; it was published on their blog on June 21, 2017. Not seeing the results or improvements you expected to see from your customer listening efforts? Detailed below are five of them.

On Metrics and Complacency

CX Journey

Image courtesy of Pixabay I originally wrote today's post for CallidusCloud. The customer experience is a journey; your transformation work is, too! One piece of advice I have is: never rest on your laurels! What delights customers today may not delight tomorrow.

The Economics of the Customer Experience

CX Journey

Image courtesy of LendingMemo I originally wrote today's post for Confirmit in September 2014. This is a modified version of that post. Not all returns from your customer experience investments are financial. That's not a purpose; that's an outcome of creating customers.

On Metrics and Complacency

CX Journey

Image courtesy of Pixabay I originally wrote today's post for CallidusCloud. The customer experience is a journey; your transformation work is, too! One piece of advice I have is: never rest on your laurels! What delights customers today may not delight tomorrow.

Questions to Consider Before Forming a Customer Advisory Board

CX Journey

Image courtesy of Pixabay I originally wrote today's post for Clicktools. There are a lot of different ways to listen to customers and employees. Most companies think that surveys are the only way to go, but you can get feedback in a variety of other ways, as well.

Voice of the Customer – Gain Valuable Insights From Customer Feedback

Retently

How much do you focus on customer retention? If you don’t, you’re likely to hemorrhage money in the long run, given that acquiring new customers will cost you 5 times more than retaining existing clients. How Do You Define Voice of the Customer?

The Power of Leading Indicators in Customer Success: Here’s What To Measure

Waypoint Group

This article discusses the steps and necessary metrics to drive account retention and expansion: Common issues facing Customer Success (CS) teams. Many Customer Success teams measure their performance via customer retention and expansion rates.

Do Your Employees Know What Value Customers Are Looking For?

Second to None

All brands should invest a significant amount of time and energy to foster long-lasting relationships with consumers, and any resource that can assist in this process is valuable. Leaders in any industry are providing a unique value proposition to customers so that they stand out amongst the rest of their competition. If your employees are not readily equipped with this information, your team will not be in a position to establish this level of trust with your existing base.

Find a Vendor That Provides Insights On Top Of Data Collection

Second to None

Collecting data on a consistent basis is a key step of providing an excellent experience to your customers. Finding conclusive action priorities from the massive pile of data you have collected is a challenging and complex process, and ideally you are working with a vendor that possesses the knowledge to filter through this information and find key drivers for positive change. Customer Experience research can have a potentially massive effect on the growth of your brand.

New Whitepaper: Accelerate Profitable Growth Through Stakeholder Engagement

Waypoint Group

We have just published a new whitepaper for folks driving Customer Success in B2B firms and seeking to proactively engage the right customer-contacts in the right way at the right time to obtain the right insights. The paper focuses on engaging the right stakeholders in your customer accounts (think “Renewal Buying Committee” participants/Key-stakeholders, not just end-users or your customer “champions” or end-users).

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How To Consistently Create Loyal Customers

Second to None

Creating loyalty amongst your target customers serves a challenge for brands in any industry, and ultimately, those organizations that do inspire customers to return to their brand are positioning themselves for continued success. Customer retention requires diligence and a detail-oriented team, willing to put in the extra effort to sway customers to keep on coming back and bringing their own networks with them.

You are responsible for Customer Success, but are you driving Customer Success?

Waypoint Group

I recently wrote about the importance of leading indicators to improve customer retention and expansion rates in B2B environments. Let’s start with a definition of Customer Success: “Success” is simply, “The accomplishment of an aim or purpose.”

Create Better And Longer Relationships With Customers

Second to None

Encouraging excellent relationships with customers can be a significant differentiator across almost every industry. Customer retention is a key signifier of a high-performance CX platform, and your brand’s ability to provide the unique value desired by your target customers. details some methodology around how to establish these relationships, through the lens of a yoga studio started by the author. Make your customer experience exciting.

Start Selling To Your Existing Customers

Second to None

Establishing a level of Customer Experience performance that contributes to high retention rates will ultimately be the differentiator between your brand and the competition. It is significantly cheaper to invest in customer retention than acquisition, but without great service throughout the customer journey, it will be challenging to sway customers to keep on coming back. on April 2, 2018: “ Customer acquisition is an ongoing challenge.

Create An Experientially-Influenced Business Strategy

Second to None

Providing value to customers beyond the product or service you are selling is important to establishing a leading Customer Experience platform. By converting these channels into experiential destinations, you are proving to your customers that your relationship goes beyond simply being transactional. However, proving the return on investment of experiential isn’t as cut and dried as tracking the click-through rates of your online ads.

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Create A High-Performance Customer Engagement Platform

Second to None

The ability to curate high levels of customer engagement can help brands to increase their customer retention rate, which can have a direct impact on overall profitability. Brands in any industry can benefit by creating a platform that encourages return customers, and one key aspect of doing so is establishing clear moments along the customer journey meant to increase levels of engagement before, during and after purchase.

How CX Delivers Business Value

Verint

In today’s ultra-competitive market, Customer Experience (CX) is a strategic imperative that is helping market leaders aggressively grow their business through new customer acquisition and existing customer retention. Omnichannel interactions and the emergence of digital mobile as a preferred consumer engagement channel have added complexity and risk to CX initiatives and corresponding business value.

The Evolving Chief Customer Officer: Identifying Value, Authority, Scope, Responsibilities, and Strategic Direction Within the Enterprise

Beyond Philosophy

In the past decade, we’ve seen the number of companies with an individual in the role of Chief Customer Officer (CCO) – nicely defined by Wikipedia as “the executive responsible for the total relationship with an organization’s customers” – grow from under 100 to thousands today. Five Core Areas of Functional Responsibility. They are; Customer Experience and Value Optimization. Customer Insight, Data and Action Generation. Michael Lowenstein, Ph.D.,

An Article On Customer Experience That Actually Makes Sense

GetFeedback

If you Google customer experience you’ll get about 2,340,000,000 results—articles, videos, reports—with in-depth information about the space. This leaves you with more uncertainty about CX than you had at the start of your research. . What is customer experience? 73% of U.S.

Customer Experience Strategy: An A to Z Glossary

Lumoa

Customer experience has been on the rise during the last couple of years. From the traditional product-oriented businesses we’re moving towards customer understanding and customer-centric approaches. How to take actions on customer experience? Image by Retently.

4 Ways Building a ‘Customer Room’ Can Reshape Your Customer Experience

Customer Bliss

In today’s episode, I chat with Daniel Coullet , Senior Vice President of Customer Success and Experience, and Elizabeth Curtin , Customer Experience Practice Manager at PTC , about defining customer success, and the value of designing customer room for enhancing employee and customer experience.

Mystery Shopping is Valuable For All Brands, Not Just Restaurants and Retail

Second to None

Interactions with customers are an inevitability for all brands, but the way that these interactions occur varies greatly across different industries. It is important that your leadership team is expertly aware of how employees are performing within these individual instances. These moments take place every day, online , on-the-phone or in-store , and each individual instance shapes the overall perception that consumers have of your brand.

Are You Working With An OmniChannel Expert?

Second to None

Customer relationships are the foundational building blocks of a high-performance organization. These interactions and relationships are spread across more than the traditional channels, and each of these avenues can affect your team’s ability to curate long-term customer relationships. For a successful omnichannel Customer Experience program, employees need to sift through and expertly analyze a large amount of information.

A to Z Guide to Customer Experience Definitions and Terms

Lumoa

Customer experience has been on the rise during the last couple of years. From the traditional product-oriented businesses we’re moving towards customer understanding and customer-centric approaches. How to take actions on customer experience? Image by Retently.

CX Experts We Love

Wootric CX Blog

These authors, speakers, thought-leaders and dedicated customer experience professionals have all helped contribute to the widespread adoption of CX, not just as a strategy, but as a higher goal. Why we love Amy: She’s head of Customer Advocacy at MindTouch.

How Best to Create a B2B Customer Survey

ChurnZero

You may think when looking for clear feedback from clients in the B2B sphere, it can be simple enough to directly ask for an assessment of the products or services you are providing. The most crucial part of creating a survey is to consider what results you are anticipating.

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CEMs vs. CRMs (And Why You Need Both)

PeopleMetrics

Customer Experience Management (CEM) and Customer Relationship Management (CRM) are the same, right?”. While it may be true that at their core, both systems revolve around the key interactions a customer has with your brand, CRMs and CEMs serve distinctly different purposes and operate from two contrasting angles. or not, why do customers return. P.S. What did you think of this blog post? Customer Experience Customer Experience Management Software

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Forrester Study: Economic Impact of Qualtrics CustomerXM

Qualtrics

In a Qualtrics-commissioned Total Economic Impact study (TEI), Forrester Consulting estimates the 3-year benefit of Qualtrics experience management software at $38.4 million – which is an ROI of 633%. – Excerpt from Qualtrics customer survey interview.

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Expert Tips from Customer Success Leaders

ChurnZero

RYG, which stands for red, yellow, green, (health scores) is all about your customers a nd their success. Wondering how to take your red and yellow customers and transform them into your biggest cheerleaders? Hiring and Scaling a Customer Success Team.

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Customer Experience Leaders & Laggards – What’s the Difference?

Customer Alignment

Customer Experience leaders grow revenue faster than CX laggards, drive higher brand preference, and can charge more for their products. ” The benefit of CX is now well documented even if organisations are still struggling to link its value to business outcomes.