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Closing the loop arguably drives the greatest ROI with VoC programs. Here's how it works: when an individual customer has a problem, the front line of the operation is notified and can follow up to make things right. The ability to immediately follow up and resolve customer issues is reason enough to invest in VoC.
Depending on your Customer Lifetime Value (CLV), this can be a complete game changer. You can set up real-time alerts that go to the appropriate person in your company who is responsible for following up with the customer and “closing the loop.” This activity alone with make your company 10x more customer-centric.
Most of our clients set up multiple triggers for recover alerts so that if any of the preceding events happen, they know about it and can assign someone to follow up and close the loop with the customer. That is what most companies do in terms of following up or “closing the loop” with regard to recognize alerts.
Voice of Customer (VoC) programs (also known as CustomerExperienceManagement (CEM) programs) are becoming the single source of truth for most organizations with regard to how the customer feels about their experience with a given company. As CEO, he guides the company’s vision and strategy.
Five out of fifty customers may not sound like a lot, but when you consider that each brings in $100,000 of revenue over their lifetime, the benefit of VoC becomes a no-brainer. In this survey, we ask customers if the issue was resolved and if their perceptions of the company improved. Sean holds a Ph.D.
In this model, a centralized team is composed of a handful of members who are responsible for closing the loop on all recover alerts. But they are always involved in the process and are ultimately responsible for closing out all recover alerts. That leads to a more customer-centric culture! Does Closing the Loop Pay?
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