Measuring Voice of the Customer ROI: Which metrics are right for you?

VoC continuous survey programs are used to better understand the customer experience within a business. But which metrics should be used to measure return on investment?

Stacey Nevel

www.mycustomer.com

Category

Customer experience

Loyalty and retention

Measuring and Managing

Net Promoter Score®

Article published on

25 May 2018

VoC continuous survey programs are used to better understand the customer experience within a business. But which metrics should be used to measure return on investment?

Voice of Customer (VoC) is a relatively new term in marketing research that represents the process by which a company continuously gathers and analyzes the satisfaction and opinion of customers regarding their experience with the company. This type of program is mainly implemented to improve customer experience, however it has to be profitable for the company. Therefore, any company wishing to implement a VoC program must measure and track certain metrics over time to determine its return on investment.

But which metrics should be used? First, it is important for a company to understand the issues that led to the implementation of a continuous survey program such as VoC. This step will ensure that the latter meets the company’s objectives in addition to guiding its decision in the metrics selection. Then, before implementing any measures, it is essential that all stakeholders involved in the program agree on the latter’s objectives. The author emphasizes that the various stakeholders will only be truly engaged when they will understand the impact that the program will have on revenue and costs.

Below are a few examples of metrics mentioned by the author, which are often used within VoC programs:

Each of these metrics has their own specific benefits. Up to you to determine which is best for your company!

You would like to implement a VoC continuous survey program within your company? Please do not hesitate to contact us to find out more.

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