Surprising Facts That Voice of the Customer Research Has Shown

‘The customer is always right’ is a phrase that many business owners and service providers believe in. Over the last decade, the customer has become the most important part of the business and owners are listening to feedback from potential and past clients more than ever.

In the past, consumers would buy a product and use a service without being asked for a review or feedback. Nowadays, you can’t leave an establishment without one of the staff asking you to fill in a feedback or review form. Opinions matter and companies are doing everything in their power to please the client.

No matter how wrong the client is, customer care is trained to handle every situation with such expertise in order for the customer to always feel like a winner. Wondering why the client is always right? Read this for some insight.

When it comes to the voice of the customer, there are many surprising facts that have come to the surface during past research. Here is a list of our favorites:

TOP PRIORITY

Investing in a better customer experience within your business is top priority. A survey conducted by the Temkin Group has found that businesses with an annual turnover of $1 billion can make an additional $700 million dollars in their upcoming year if they invest in a greater client service.

With product and services holding only 33.6% priority and costs a 20.5% priority, customer experiences are taking priority for most multi-million-dollar companies at 45.9%. When the client and consumer are happy, they will spend more ultimately resulting in a much larger revenue stream.

CLIENTS PREFER BETTER CARE

Voice of the Customer research have proven that 86% of consumers will pay a higher rate for a better customer experience. The brand differentiator will be great patron service.  No matter whether your product or service is better than your competitor’s, when they are investing in their patron’s satisfaction, they will get all the business.

BEATING COMPETITORS

In the past, competitors would fight over ad space or the best marketing campaigns, today it’s all about who has the happiest customers. Happy customers will refer their friends and ultimately bring in a lot of new business. Companies are fighting against each other trying to prove who has the best client service.

Online surveys, feedback forms, star ratings, and reviews are all part of proving your business is credible and great to their buyers.

ONLINE EXPERIENCES COUNT

When a potential buyer comes across your website or mobile app, it’s important that the app is easy to navigate. This might come as a surprise, but this experience in itself is enough to drive a consumer straight into the hands of another business with a better online experience.

As many consumers are glued to their phones, they are looking for a decent experience from their mobiles. It’s important to gather as much information as possible from website users, to ensure businesses make the necessary changes to their online apps. A great online experience will result in more traffic, better reviews, and ultimately – customer satisfaction.

CUSTOMER SATISFACTION DIRECTLY IMPACTS RETENTION

To improve your revenue and generate more traffic to your product, you should focus on keeping the client happy. Surveys have found that when businesses adapt their performance and service according to feedback that they also improve retention percentages.

Ultimately, you want your buyers to come back for more. They won’t come back for a second helping if you treat them like trash. You can improve your client service skills by following some of these TIPS.

If you haven’t implemented tools and methods to adapt to the client’s opinion of your product or service, then it’s time you jumped into the loop. Voice of the Customer research and services can help you assess what exactly it is your target market needs of you. This will give you all the information and statistics needed to grow and adapt your business. Once you keep your consumers happy, more happy customers will start flying in. Even though all feedback is digital in the modern age, we should never underestimate the power of online reviews, recommendations, and old-fashioned word-of-mouth.