Introduction

Customer retention and loyalty have become crucial in 2021, as the pandemic has significantly impacted consumer demand across various industries. With people being more cautious about spending beyond essentials like groceries, retaining customers is critical, especially for businesses with recurring revenue models.

Engaged customers not only spend more over time, but they also contribute a substantial portion of business income. Victor Ho, CEO of Fivestars, highlights in Forbes that these loyal customers don’t just support businesses during slow periods; they drive most of the profits by spending more frequently than new customers. An Adobe report even notes that about 40% of a business’s revenue comes from repeat customers, who make up only 8% of all visitors.

When businesses proactively meet customer needs, they can turn these customers into loyal advocates. To meet growing customer expectations and achieve growth, organizations must invest in and develop Voice of the Customer (VoC) programs. Why is this so important? A Gartner survey found that companies experiencing revenue growth collect more customer experience data than those that don’t.

VoC programs should focus on the following:

• Gathering feedback on customer experiences with products or services
• Developing strategies to address customer needs, grounded in a deep understanding of their pain points and preferences
• Implementing product improvements and making decisions driven by the voice of the customer

VoC strategy is essential in an organization’s digital consumer intelligence (DCI) maturity journey. It’s one of the six key pillars outlined in the DCI Maturity Model, and something we assess in our DCI Assessment, both designed to help organizations identify strengths, weaknesses, and areas for improvement.

In this guide, we’ll explore how organizations at different stages of maturity approach VoC strategy and offer advice on how your organization can advance.

We’ll also share insights from Brandwatch’s internal VoC expert, Director of Consumer Insights Kelly Autenrieth, who has spent over eight years at Brandwatch, three of which have been dedicated to helping clients better understand their customers and make informed decisions.

What is VoC all about?

VoC (Voice of the Customer) strategy is fundamentally about embedding customer-centricity within an organization. But what does it truly mean to be customer-centric?

The concept of customer-centricity isn’t new. Many businesses claim to put the customer at the center of their operations and core values. Some of these companies invest heavily in understanding customer preferences and pain points, dedicating resources and technology to gather feedback across all channels and touchpoints. Others may profess to be customer-centric but fail to engage in any meaningful listening, missing out on valuable customer insights.

When we talk about the voice of the customer, we’re not just referring to how certain parts of your organization monitor customer conversations and stay attuned to their needs. A strong VoC program goes beyond this—it integrates customer feedback into existing business processes, ensuring that customer insights are not only heard but acted upon. It means making sure that the voice of the customer resonates throughout the entire organization, becoming a fundamental part of your company’s values and long-term strategy.

Dive deeper into customer-centricity and discover how to integrate VoC strategies that drive real business impact. Continue reading and access the full guide now!

Related guide: The Smart Marketer’s Guide to Finding and Using Customer Insights | Bazaarvoice

• Introduction
• What is VoC all about?
• What VoC strategy looks like across different stages of DCI maturity:
  • 3. Digital consumer intelligence
  • 4. Embedded digital consumer intelligence
• How does the VoC pillar relate to the other pillars of DCI?
• 5 quick tips for a better VoC strategy
• Learn more about DCI Maturity
• Assess your performance across the pillars of DCI

Pricing: 

• Free