Voice of Customer

  • Customer Acquisition Strategies for Financial Institutions

    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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  • Blog: Improving Customer Service: Tips for Winning Big with Customers

    Improving Customer Service: Tips for Winning Big with Customers

    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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  • Blog: How to Drive Business Innovation with Customer Data

    How to Drive Business Innovation with Customer Data

    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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  • Blog: Conduct an Annual Customer Survey

    How to Conduct a Logistics Company Customer Survey

    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 custo

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  • Blog: 5 Ways to Attract More Repeat Customers to Your Brand

    5 Ways to Attract More Repeat Customers to Your Organization

    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

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  • Blog: Customer Motivation Surveys: Benefits, Process, and Sample Questions

    Customer Motivation Surveys: Benefits, Process, and Sample Questions

    Are you wondering what moves a customer from the initial awareness stages to becoming a life-long customer? Well, like most business questions and objectives - there’s a market research study that can answer this quorum. Customer motivation surveys are used by businesses to understand what motivates shoppers to move from awareness to interest to ultimately making a purchase. Knowing what motivates customers also helps set businesses up for success with customer satisfaction and loyalty. For

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  • Blog: How to Conduct a Transportation Company VoC Survey | Voice of Customer Market Research

    How to Conduct a Transportation Company VoC Survey

    According to Linchpin, altering customer expectations is one of the biggest challenges the transportation industry will have to overcome in 2021. Keeping this challenge top of mind, many are conducting a transportation company Voice of Customer (VoC) survey to offer exceptional value to their passengers. With 75% of Americans planning to travel in the next six months, there is perhaps a no better time to measure areas of satisfaction and opportunity within transportation services. Continue re

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  • Blog: How to Conduct a Voice of Customer (VoC) Survey as a Manufacturing Company

    How to Conduct a Voice of Customer (VoC) Survey as a Manufacturing Company

    Conducting a Voice of Customer (VoC) research as a manufacturing company is a great initiative. The results from a VoC survey help organizations to increase customer satisfaction and retention. Just because customers are not vocal with their complaints does not mean they don’t have any. For context, only 1 out of 26 customers are likely to share their complaints with businesses (CXM). What happens with the other 25? They simply take their business to a competitor without fair warning. As a re

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  • voc questions market research tips

    The Best Voice of Customer (VoC) Questions

    Your Voice of Customer (VoC) 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 questions you choose depend on a number of factors: Your line of business Whether you are

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  • BLOG: How to Conduct Customer Orientation Surveys [+ Example Survey Questions]

    How to Conduct Customer Orientation Surveys [+ Example Survey Questions]

    Tired of making assumptions about who your target customer is? Customer orientation surveys are the answer. Below is an overview of the definition of a customer orientation survey, the benefits of this type of market research, the process of conducting a survey with a third-party, and example customer orientation survey questions. Definition of a Customer Orientation Survey A customer orientation survey identifies the target audience that is most likely to purchase a product or service. T

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  • what how why voice of customer voi market research

    The What, How, and Why of Voice of Customer (VoC) Market Research

    Voice of Customer (VoC) is a formal market research process structured to ask questions, collect feedback, tabulate results, and take action based on customer data. The program is designed to learn more from customers including their profile, their needs, their wants, and drivers to loyalty. Ultimately, VoC is a form of market research designed to better connect with customers. In this blog post, our market research company will share the what, how, and why of voice of customer research. Plus,

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  • voice of customer research manufacturers market

    Voice of Customer (VoC) Research for Manufacturers

    But first...what is VoC? Voice of customer (VoC) is the process of better understanding needs and wants of customers. It can be both qualitative and quantitative. Qualitative is typically the first step before any kind of measurement data is collected through quantitative research. VoC research for is critical in the manufacturing industry because much like many industries, understanding the needs of customers drives both product-level and service-level improvements within your company. Voic

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