The Voice of the Customer: A Business Strategy You Can't Afford to Ignore

📆 12/10/2023 6:34 AM
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In today's competitive business world, understanding the customer's perspective is crucial for achieving success. One strategy that many businesses often overlook is tapping into the 'Voice of the Customer' . This term refers to the process of capturing customers' expectations, preferences, and aversions. But is this an unexplored goldmine in the business world? Let's delve deeper.

According to a , report by SierraDigital Only about 20% of companies have well-developed VoC programs that they consider as part of their DNA. They collect customer feedback but fail to analyze it effectively or act upon it. This can be due to a lack of proper tools, resources, or just a low priority given to customer feedback. However, ignoring VoC can be a costly mistake.

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