Voice of the Customer – Make sure it’s one of your New Year Resolutions!
The ever growing importance of Voice of the Customer programmes
is among the
eleven key trends identified by Mark Johnson, CEO for Loyalty 360, for 2011.
Johnson quotes a recent IBM study, in which over 1,500 CEOs from
60 countries and 33 industries discovered that "getting closer to
the customer" is a top business strategy and area of focus for
these CEOs over the next 5 years. 88% of the CEOs surveyed said
this was a key area of focus, followed by 76% saying that "insight
and intelligence" is also a key area.
Among Johnson's other key trends for 2011 that was of particular
interest to us, is the link between customer and employee
engagement, and how these can work together to drive bottom line
results. Johnson quotes a 2009 Gallup poll which quantified
the impact of customer and employee engagement. They found that
those in the upper half on customer engagement and the lower half
on employee engagement, or vice versa, get a 70% boost in
bottom-line results; those in the upper half on both customer and
employee engagement get a 240% boost.
According to Gartner, "Embracing the VoC will make the
difference between success and failure for many organizations over
the coming years."
The bottom line is - it's all about the bottom line, and
VoC programmes, when executed with all stakeholders in mind, should
always have 'profiting from customer feedback' as a main