A great report by Aberdeen Group has come out that reviews the WHY of having Voice of the Customer (VOC) programs and WHAT these businesses have in common to enable higher retention rates. It is very good news for those who who want to implement an effective structure for best practice and need to justify the cost of change. The entire report is a good read but I wanted to highlight ONE table that for me shows WHY a VOC program makes financial sense. Have a look below:
I have highlighted a couple of key statistics here:
Two points :
1) It is critical for the best in class businesses that customer facing staff get details of poor performance as soon as it happens. We concur hence our inclusion of ‘live’ alerts via email or SMS. We also think that alerts should also highlight GREAT staff performance to senior management.
2) Only 48% of best in class do this…..WOW. Smells like an opportunity to me
Standardize the format of the feedback data. A no-brainer. We too often see either silos of department data that are not shared willingly OR disparate data sources that should be shared but are not, simply because the technology does not ‘talk’.
Opiniator is uses one database, one set of tables and charts that are easily shared to everyone. It has a powerful alert mechanism that ensures the right staff get notice of great and poor performance.
The above means ACTION, leading to RETENTION.