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

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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