Voice of Customer Analytics: Everything You Need to Know

Customers are already telling you everything you need to know about their feelings toward your brand, products and services, whether it’s communicated during a contact centre interaction or explained in a social media post.

It’s your company’s job to listen. Voice of Customer (VoC) analytics simplifies that process by pulling key customer experience data together in one place.

In this blog, we discuss:

• What is VoC analytics?
• Where does VoC data come from?
• How VoC analytics informs business strategy
• Building a successful VoC analytics strategy
• Gather the right VoC data
• Frequently asked questions

What Is Voice of Customer Analytics?

While Voice of Customer (VoC) refers to customers’ opinions about their experiences with a business, VoC analytics refers to the collection and analysis of VoC data, aimed at uncovering the insights companies need to enhance their CX strategies, improve agent performance, and/or adjust processes with better decision making.

With the right VoC analytics process, a company can automate data pulls and insights to better understand how to meet customers’ needs.

Where Does VoC Data Come From?

VoC data can come from any source, both solicited and unsolicited, a company uses to learn more about its customers’ opinions, including:

• Customer reviews: The opinions customers share when they leave reviews on a company’s or third-party’s website create valuable data for gauging customer sentiment.
• Customer surveys: Feedback from follow-up surveys is an important type of direct customer feedback that should be used in a VoC strategy.
• Social media: Social listening happens through social media. Artificial intelligence tools can actively listen for comments made about a company and feed that data into a VoC analytics system.
• Phone and email conversations: When customers contact a company by phone or email, their communications typically involve questions, complaints, or praise that the company can use to improve the customer experience.
• Website feedback forms: VoC analytics often incorporate customer feedback left in website forms, a convenient and heavily used form of communication for customers.

A conversation intelligence solution captures 100% of customer interactions across phone, email, chat, social media, and other channels.

By converting unstructured information from customer interactions into structured data, conversation intelligence unlocks a wealth of insights into the meaning of what customers are saying as well as the sentiment and emotion that drive their needs, wants, and expectations.

This unsolicited feedback is a vital component of a modern VoC program.

If you’re investing in a new technology, it’s almost guaranteed you’ll ask questions related to #AI and #ML. Since conversation intelligence solutions are not one size fits all, we compiled top questions to help you select a platform that best fits your business needs. CallMiner, Inc. (@CallMiner) September 1, 2023

How VoC Analytics Informs Business Strategy

Most customers are willing to pay more for great customer service and an overall convenient, positive experience with a brand.

Enter VoC analytics, which can be used to build positive experiences between your company and your customers while enhancing your brand.

Understand Your Customers’ Perception of Your Brand

A company without a happy customer base has little room to grow. Even worse, a company that doesn’t know where it’s failing its customers can’t correct problems.

VoC analytics can fill in the knowledge gaps by providing insight into how customers perceive and experience your brand. With that information in hand, your company can address pressing issues affecting the customer experience.

Gather Feedback for Product and Service Improvement

Your products and services may need to evolve over time to keep up with your customers’ needs.

With the right VoC analytics strategy in place, you can gather data about your current customers and the features or services they’d like to see from your company as it brainstorms ideas for the future.

Learn What Marketing Strategies Work

When your customers answer surveys, where do they say they learned about your brand? When they discuss your company on social media, do they mention a specific advertisement or social post?

Chances are your customers provide hints about what marketing tactics work, and VoC analytics tools can transform those hints into data and actionable insights.

Get Ahead of the Competition

A company with deep connections to its customers can outpace its competition by delivering exactly what buyers want. VoC analytics provides the data necessary to do that.

For example, if you’ve learned from your VoC data that your customers want a subscription model but Competitor A doesn’t have the same insight, it’s possible for your company to edge yourself into the subscription space long before Competitor A does.

Building a Successful VoC Analytics Strategy

VoC analytics is as successful as the team and processes behind it. For the best results, a VoC strategy requires:

• Dedication: It takes time for a VoC analytics strategy to align to a company’s needs. It also can take time for teams to understand the importance of improving the customer experience to reach company goals. Teams that are willing to stick to the process poise themselves for success.
• Collaboration between teams: Several teams are responsible for the data VoC analytics gathers and determining how to use that data. For instance, call centre and social media representatives handle the customer interactions driving the data, while marketers use VoC data to inform company campaigns. All teams should be on the same page and open to sharing insights and ideas when necessary.
• Willingness to learn, grow, and adapt: Companies collecting VoC data should be willing to pivot as needed based on what they learn from their data.

Gather the Right VoC Data

A conversation intelligence platform bridges the gaps between customer sentiment and company response.

Through contact centre tools, like conversation intelligence and agent coaching, and experience management tools, like customer journey mapping and brand sentiment tracking, companies receive a comprehensive picture of their performance and the data they need to drive continuous improvement.

Frequently Asked Questions

What’s the Difference Between CX and VoC?

VoC is one part of the overall CX, or customer experience. CX incorporates everything that goes into the customer’s journey with a company, from learning about the company to their experience with a product. VoC is an active listening process that gathers feedback from customers to improve CX.

What Is a Good Tool to Use to Analyze Voice of the Customer data?

CallMiner Analyze provides end-to-end tracking and VoC analytics across multiple channels through its customer conversation intelligence platform.

The tool uncovers data through artificial intelligence, ultimately delivering actionable insights to decision-makers.

How Do You Collect Voice of the Customer Data?

VoC data comes from multiple channels, including customer reviews, phone conversations, and social media. Companies can also pull VoC data from customer surveys, focus groups, or one-on-one interviews.

A platform offers a suite of solutions to collect VoC data across phone, email, web, social media, chat, and other channels for deep insights that help businesses improve contact centre efficiency, customer experience, and performance across the enterprise.

This blog post has been re-published by kind permission of CallMiner – View the Original Article

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CallMiner is the leading cloud-based customer interaction analytics solution for extracting business intelligence and improving agent performance across all contact channels.

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Call Centre Helper is not responsible for the content of these guest blog posts. The opinions expressed in this article are those of the author, and do not necessarily reflect those of Call Centre Helper.

Author: CallMiner