16 Modern Voice of Customer Best Practices to Drive Growth and Differentiation

Customer insights can make or break a B2B technology or telecom company. In today's competitive landscape, harnessing the power of customer feedback is essential for fostering stronger connections, elevating satisfaction, and driving a customer-centric culture that fuels growth and sets you apart from the pack.

In this article, I'll share 16 modern Voice of Customer (VoC) best practices that every B2B technology and telecom leader should be implementing to stay ahead of the curve and unlock the full potential of customer insights.

1. Embrace Net Promoter Score (NPS)

NPS is the gold standard for measuring customer sentiment in B2B. It's simple, concise, and provides a clear picture of where you stand with your customers. Make NPS the cornerstone of your VoC program.

2. Optimise Your Response Rates

The more customers who respond to your surveys, the more accurate your data will be. Aim for a response rate of at least 20% and use techniques like keeping surveys short and closing the loop to encourage participation.

3. Boost Signal from Customer Accounts

In B2B, it's not just about the number of responses, but also the range of people within each account. Survey individuals across different touchpoints to get a well-rounded view of the customer experience.

4. Increase Survey Frequency

Quarterly surveys strike the perfect balance between engagement and avoiding survey fatigue. More frequent surveys lead to higher retention rates, so don't be afraid to reach out regularly.

5. Combine Relationship and Transactional Surveys

Use both types of surveys to gain a broad understanding of your customer relationships and targeted insights into specific sentiment drivers. This holistic approach will give you a more complete picture of the customer experience.

6. Improve Your Revenue Coverage

Focus on collecting feedback from 80% of your revenue base each quarter. This ensures you're getting insights from your most valuable customers and can prioritize improvements that will have the greatest impact on your bottom line.

7. Close the Loop on All Feedback, Fast

Aim to respond to every account within 48 hours. The faster you close the loop, the more positive impact it will have on your NPS score and customer loyalty. Show customers you value their feedback by taking swift action.

8. Involve All Levels in Closing the Loop

From frontline staff to C-suite executives, everyone should be engaged in responding to and acting on customer feedback. This company-wide commitment to customer-centricity will differentiate you from competitors.

9. Set VoC Targets for Closing the Loop

Having clear targets for both speed and coverage will improve your performance and NPS score. Hold your team accountable and celebrate wins along the way.

10. Start by Measuring Retention

Knowing your current retention rate is crucial for benchmarking and monitoring future growth. Use this as a baseline to track the impact of your VoC efforts over time.

11. Understand the Financial Impact of VoC Drivers

Attribute a financial value to each driver of positive or negative feedback to see where you need to focus your efforts. This will help you prioritise initiatives that will have the greatest ROI.

12. Drive Referrals and Upsells with Your Experience Program

Identify happy customer accounts and activate a referral and upsell engine to directly impact your bottom line. Your most satisfied customers can be your best growth drivers.

13. Calculate Your VoC ROI

Linking referrals, resells, and more to your CX program will help you prove the value you're bringing to the business. Demonstrate the tangible impact of your efforts to secure buy-in and investment.

14. Align Your VoC Program with Company Strategy

Bringing VoC and company strategy together increases buy-in and ultimately improves your NPS score. Show how customer insights are driving strategic decision-making and growth.

15. Share Results Across Your Organization

Making customer feedback accessible to everyone in real-time ensures quicker responses and better NPS performance. Break down silos and empower your team with the insights they need to deliver exceptional experiences.

16. Establish a Core VoC Team and Get Them Certified

Investing in a dedicated, skilled team is crucial for the success of your customer experience efforts. Provide ongoing training and certification to ensure your team has the expertise to drive results.

Unlock Your Growth Potential with Our Free Assessment

While these 16 best practices provide a solid foundation for your VoC program, the key to success lies in undertaking primary, qualitative research among your ideal customer profiles. This allows you to dig deep into their needs, preferences, and pain points, and tailor your products, services, and experiences accordingly.

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At TechGrowth Insights, we specialise in bringing customer and market insights to B2B technology and telecom firms. Our team of experts can help you design and execute a VoC program that delivers real results and sets you apart from the competition.

If you have any questions or would like to discuss how we can support your VoC efforts, feel free to reach out. I'm always happy to chat and share more insights from our work with industry leaders.