KANECT – Voice of the Customer

Most corporate leaders know that it costs more to find a new customer than to grow an existing one, yet they operate by a mantra that says, “We always need more new customers!” Studies show that customer attrition can run between 12% and 15% in any given year depending upon the industry. A Voice of the Customer / Relationship Survey Program is a required element of any business, and when properly executed, can result in extraordinary ROI for any organization by not only reducing customer attrition, but also improving growth rates.

The Chapman Group’s team of experts works in collaboration with your team to establish your VOC Program:

• Goals, objectives and program success measures
• Process for launching customer feedback surveys and the frequency at which they will be launched
• Sample / Participant database – a 3x3x3 (high, wide and deep) representation of the customer to be able to obtain data points from all management levels and functions with whom your organization works with on a daily, monthly, quarterly and / or annual basis
• Survey questions – a combination of both performance and commitment indicators, ensuring that the survey output is actionable
• Action plan – a combination of short and long-term activities (i.e., tactics and strategies) based upon the feedback from your customers
• Process for “closing the loop” and reporting on the results both internally to program stakeholders and externally to the customers themselves

A process is a set of sequential steps to achieve the desired result. A process is predictable, repeatable and measurable and our team of experts works with your team to ensure your Voice of the Customer survey process is just that – simple, consistent and well-executed.

In managing your program efforts, The Chapman Group works with your team to establish project and launch timelines that follow a well-defined, proven process for yielding above-average response rates. This process is critical in maximizing survey participation and increasing the statistical validity and value of survey results:

Note: Survey can include both online / web-based surveys as well as phone / personal interviews based on the overall goals and objectives of the program.

The sustainability of any voice of the customer initiative will be determined by the survey output. To ensure there is continued buy-in at both the customer and internal stakeholder levels, it is critical to effectively interpret and act on the data in a timely manner. The Chapman Group’s team of experts assists you to do just that… analyze and interpret the data to be able to implement customer, organizational, divisional and / or individual improvement action plans that move the relationship needle up.

Our team of experts works in collaboration with your team to optimize survey results through:

• Real-time dashboards and results
• Metrics and Measurements to benchmark individual, team and organizational progress that enables your organization to:
  – Consolidate tactical and strategic business intelligence
  – Represent all contact points within a customer including senior-level relationships
  – Be empowered with actionable knowledge from your customers
  – Integrate customer metrics into your Account Relationship Servicing model (i.e., Account Plans)
• Tailored customer feedback reports including The Chapman Group’s Prescription for Success highlighting key discoveries and recommended short and long-term action plans
• Advanced, predictive analytics to identify drivers of loyalty and commitment

The VOC survey data has been collected and analyzed… Now What? To continue the proactive sales / customer management process and generate increasingly loyal and committed customers, the results of the surveys must be shared both internally and externally and acted upon in a professional and timely manner.

The Chapman Group’s team of experts not only execute a best-in-class survey initiative, they also work with you and your team in a consultative manner to make the most of your customer data and capitalize on all opportunities to turn feedback into action to improve revenue and profits. Through our action planning workshop (and ongoing consultative support with your dedicated client success manager), we teach your team to do just that – utilize feedback in both internal and external forums such as:

The data collected as part of a Voice of the Customer Program will provide ongoing and predictive customer / account intelligence that steers the strategic relationship efforts and initiatives of your organization. These strategic efforts will result in improved revenue, profitability, and market positioning… only when you take action on your customer feedback data and insights by closing the loop!