Voice of Customer
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Ultimate Guide to Voice of Customer (VoC) Market Research
Posted at: 9/17/2024 12:30 PM
Understanding your customers' needs, preferences, and experiences is crucial for any business striving for success. This understanding is at the heart of Voice of Customer (VoC) market research. VoC research involves capturing and analyzing customer feedback to inform and guide business decisions, helping companies improve products, services, and overall customer satisfaction. In this ultimate guide to VoC market research, we'll delve into what VoC is, why it’s important, and how to effectiv
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Posted at: 8/22/2024 12:30 PM
VoC in-depth interviews (IDIs) with customers, former customers, and prospects can provide a business with a wealth of information. By engaging directly with your target audience, you can uncover valuable information that drives strategic decision-making and enhances customer satisfaction. Learn more about the process from our VoC research company. What are VoC Interviews? Voice of the Customer (VoC) interviews are in-depth conversations with customers aimed at understanding their needs,
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Voice Of The Customer: All You Need to Know
Posted at: 3/28/2024 12:30 PM
In today's fast-paced business landscape, understanding the needs, preferences, and expectations of customers is paramount for success. This is where Voice of Customer (VoC) market research emerges as a pivotal tool. By tapping into the authentic voices of consumers, VoC research provides invaluable insights that shape strategies, drive innovation, and foster customer-centric approaches. In this blog post, our market research company will share the what, how, and why of voice of customer rese
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How Often Should I Survey My B2B Customers?
Posted at: 1/8/2024 6:40 PM
A big part of conducting B2B market research is surveying customers to gather valuable feedback. However, the frequency with which you survey your B2B customers depends on multiple different factors. So while no one answer applies to every organization, factors such as your industry, the products/services you sell, and your customer profiles can help determine how often you should survey customers. Taking these into account will simplify the process as you're navigating when to touch base ag
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What is a Customer Profile? [+How to Create One]
Posted at: 12/15/2023 1:30 PM
What is a customer profile? Customer profiles allow businesses to understand who purchases from them and why they do so. This profile includes important customer details like their needs, preferences, and other important demographic information. This information is used by the business to understand how they can better market to their base. What Is The Definition of a Customer Profile? A customer profile details the preferences and needs of a brand's average consumer. Profiles vary widel
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What is Customer Engagement? [From Market Research Experts]
Posted at: 10/27/2023 12:30 PM
Customer engagement is the ongoing interaction and relationship-building between a business and its customers, characterized by personalized communication, exceptional service, and efforts to provide value beyond transactions. Brands that place importance on the shopping experience of their customers will almost always see high levels of customer engagement. In this blog post, our market research company dives into what customer engagement is, how to measure it, and the importance of improvi
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53 Must-Have Voice of Customer (VoC) Survey Questions
Posted at: 5/25/2023 12:30 PM
Your Voice of Customer (VoC) market research program and outcomes are only as good as the instrument and questions you ask in your survey. Wouldn't we all love to ask our customers 100 questions? Unfortunately, they do not have the time, and most aren't willing to spend more than about 3 to 5 minutes answering a survey. Therefore, it is crucial to make sure the 15 questions you choose to ask are the right ones. The VoC questions you choose depend on a number of factors: Your line of busin
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Customer Acquisition Strategies for Financial Institutions
Posted at: 1/12/2023 1:30 PM
It’s likely you’ve been tasked with growing the number of customers or members at your financial institution. It is no easy task and developing customer acquisition strategies comes with a lot of barriers. But understanding more about the formula to acquire new members or customers in your market will help you develop unique strategies to attack the market and grow your customer base. Challenges of Acquiring New Banking Customers The total market for potential banking customers is capped
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Improving Customer Service: Tips for Winning Big with Customers
Posted at: 12/8/2022 1:30 PM
It should go without saying, but if your business doesn't have excellent customer service, your business won't be open for long. Okay, maybe that's a little dramatic. But it's kind of true. Why? Because customer service is the foundation of your company. If you're not prioritizing improving customer service, then your retention rates will also suffer. And with repeat customers reportedly spending an average of 67% more than new customers, you're leaving a lot of money on the table. What's
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How to Drive Business Innovation with Customer Data
Posted at: 11/23/2022 1:30 PM
While we all dream about identifying the next big idea. A product, service, or solution that solves people's challenges and makes us the next Steve Jobs. However, this type of innovation rarely happens in a vacuum, but instead requires a cultural and financial commitment, patience, and dedication. The most straightforward pathway to successfully leveraging innovation to drive revenue involves utilizing the voice of customer data to navigate the process. There is no need to guess where the o
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How to Conduct a Logistics Company Customer Survey
Posted at: 7/26/2022 12:30 PM
Recently, a logistics and transportation company partnered with Drive Research to conduct an annual customer survey. For information on the 2021 iteration, click here. When it comes to Voice of Customer (VoC) research, we’re all about the process. The steps of a transportation VoC study include: Quote/proposal Kickoff meeting to discuss the goals and objectives Designing the VoC study Executing fieldwork Analyzing and reporting on the results While those are the steps of a continuous c
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5 Ways to Attract More Repeat Customers to Your Organization
Posted at: 6/14/2022 12:30 PM
What feels better than attracting new businesses? Turning those people into brand loyalists and repeat customers for life. It's better for business too. According to SEMrush, the probability of selling to an existing customer is between 60% and 70%. And the probability of selling to a new customer is only between 5% to 20%. Despite these figures, 44% of businesses focus on customer acquisition, while only 18% focus on customer retention. There are several customer retention strategies orga