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What is NPS?
Net Promoter Score (NPS), measures customer loyalty and works by simply understanding the proportion of promoters (advocates) and detractors (critics) within a business. NPS is a really powerful key metric in the measurement of customer experience as it is correlated with revenue growth. Used correctly, it can really help a business understand the drivers of success and failure.
Moving big CSAT customer experience tracking style programmes from one supplier to another can be a real challenge and involves a lot of thought. Clients are often deterred from moving suppliers because of the prospect of issues and unearthing problems they’d rather not have.
Building a strategy for your VoC programme is crucial to its success. Whether you have a VoC programme currently in place which is working well, or a programme which is not quite fulfilling its potential, building and refining an overriding VoC strategy is always a good idea.
With so much data collection and constant brand engagement, it is often hard for consumers and customers to understand the importance of customer feedback and how businesses act upon it. In this article we explore the four simple steps that Watermelon take to ensure our clients use Voice of the Customer to value their customers most effectively.
Why is it critical to collect customer feedback?
Collecting customer feedback is one of the best ways to listen to your customers’ voice. Transactional surveys help you to identify and remedy customer pain points, understand what your customers need and most importantly, understand where your business has room for improvement.
Why is a VoC strategy important?
Rolling out a VoC programme is no small feat, it involves engaging with many stakeholders within your business. It will mean providing data to 1,000s of staff to enable change, so a clear strategy is of paramount importance. The key to success for any voice of the customer programme is taking the time to plan your VoC strategy in the initial stages. Lack of direction and unclear communication can create results that fail for both the business and their customers. Good input creates good output.
While every one of Watermelon’s Voice of the Customer questionnaires is unique to each client and project, there are some key pointers to consider around the VoC survey’s design and the approach to different technologies that will help it to be a success.
Unstructured data is one of the most valuable sources of customer feedback. And at Watermelon we always recommend that every Voice of the Customer programme should gather unstructured data to listen to the customer voice. There are two options when considering how to code your verbatim data, either adopting an automated or manual approach.
Data security is a top priority in many businesses, especially ours. The data we collect through our Voice of the Customer programmes are valuable to our clients but even more so to our participants.