Voice of the Customer metrics: Turn numbers into actions
Voice of the Customer (VoC) metrics are the key component to improving the customer experience. As a result, the metrics you track measure and illustrate the link between Return on Investment (ROI) and the customer experience. At the end of the day, however, Voice of the Customer metrics provide you with numbers and raw numbers have no immediate value for your business. The real value lies within your ability to interpret those numbers and turn them into actionable insights that grow your business.
Where to start with VoC metrics
To get insights from Voice of the Customer initiatives you need to be tracking the metrics that make sense for your business. Before you even start implementing a Voice of the Customer program, you have to understand your own organization, the issues you are dealing with and the objectives you aim to achieve. This will ensure that the program will support your overall goals. Most importantly, it will enable you to identify which Voice of the Customer metrics to track.
Once you pinpoint the appropriate metrics, you have to engage your stakeholders. Everyone involved in the program should be on board and on the same page. To successfully engage stakeholders, you must align with their business goals. The metrics will provide raw data that enable stakeholders to make the right decisions towards favorable outcomes.
Getting your hands dirty with Voice of the Customer metrics
After you have implemented the right Voice of the Customer metrics, the raw data will start rolling in. First, you need to make sure the right data ends up in the hands of the right people. If your stakeholders are engaged and fully comprehend the impact of the program on revenue and cost they will have a better understanding of the meaning the data carries and what to do with it.
Acting on established Voice of the Customer metrics
Customer Effort Score (CES)
This metric is widely used to exert the effort a customer had to put to get an issue resolved. The CES is particularly suited to customer care environments. Low customer effort scores can be translated into several activities that enable more efficient issue resolutions. These activities might include
- Customer agent trainings
- The creation of knowledge bases that allow for faster resolutions
- The adoption of chatbots to increase first contact resolution
Net Promoter Score® (NPS)
The Net Promoter Score measures whether a customer would recommend your business to a family member, friend, or colleague. The NPS is very popular because it is easy to understand and it can be benchmarked against industry standards. A closer analysis of the NPS can lead to
- The implementation of loyalty programs
- The adoption of reward systems
- The improvement of customer service on social channels
Overall satisfaction (OSAT)
Overall satisfaction has traditionally been a popular measure in transactional surveys and is usually used to measure satisfaction in a specific channel or interaction. Low customer satisfaction scores could possibly indicate that you should
- Provide multichannel support
- Offer free product training or support
- Improve your products or services based on customer feedback