Profitable SaaS companies don’t sell software services — they sell the customer experience (CX).
True, you must offer exceptional digital products and services. But with today’s cutthroat competition in the SaaS market, that’s barely scratching the surface. The only surefire way to attract and retain loyal customers is by offering the best-in-class experience to every single one.
To achieve this, you must know and understand your customers’ expectations, needs, feedback, and pain points. And this is only possible when you listen to the voice of the customer — something VoC (voice of customer) programs help you do.
But before we discuss the benefits and roles of VoC in fostering and enhancing the customer experience, let’s define it first.
Voice of customer refers to the qualitative and quantitative process of collecting, evaluating, and understanding customers’ feedback regarding their experience with your services or products.
VoC programs enable you to gather firsthand CX feedback. Using a VoC program, you establish the hits and misses of your software services as told by your customers. This way, you can incorporate customer feedback during product development to improve user experience.
Poor CX can bring down your company in a trice. A recent CX report states that 32% of consumers are ready to abandon a company they like after one bad experience.
Additionally, customers are four times more likely to use your competitors’ products if they experience a service-based challenge with your company. This tells you that you must zero in on VoC to elevate your CX quality and grow your company.
Here are more benefits of focusing on voice of customer.
You must listen to your customers’ voices to build a product that addresses their pain points. It’s why VoC focuses on understanding customers’ feedback data to solve all issues cited by customers. VoC embodies Sam Walton’s famous maxim: the customer is the only boss.
Going all-in on a VoC program gives your company two unique advantages. For starters, it allows you to analyze negative feedback and apply fixes in real-time. Secondly, positive feedback helps you double down on your wins
By acting on critical feedback promptly, you minimize the churn rate and maintain a higher customer retention rate. Building on the good feedback helps you improve service quality. This attracts new business and also boosts upselling and cross-selling.
B2B SaaS companies are in an ever-escalating war to win and retain customers. While offering innovative digital products and solutions will give you a leg up over your competitors, the real battle is all about customer experience.
The truth is that your competitors have loads of data, just like you. They also have enough funds and talent to make headway. Therefore, it boils down to how well you listen to the voice of the customer and implement the insight gathered. In this case, a dependable VoC program will help deliver victory.
Customer success is pivotal for your SaaS company because you succeed when your customers succeed. The term customer success refers to the process of ascertaining that your customers attain their expected outcomes when using your services and products.
To ensure customer success, you need to review and understand these factors:
This is where a voice of customer program plays a significant role. Since VoC programs focus on analyzing and implementing consumer feedback, you get answers to the how and why. As a result, your customer success team is empowered to explore and devise ways to bolster your customers’ success.
Building an effective VoC program for your company takes coordinated efforts from all your departments. These tips will help you design a great VoC program.
State clearly what you want to achieve from your VoC program. Answering these questions will help you set the right objectives:
Framing the right VoC questions will get you the appropriate feedback data. Your questions may be guided by present and historical data or new changes in consumer trends and behavior.
Getting these questions right will help frontline teams know what to look for. These questions will also inform where and how to collect other VoC data, such as by mining customer interactions or asking customers for input directly.
Your frontline teams — Customer Success, Sales, and Support — are some of the best sources of feedback data. You should leverage their customer interactions by empowering them to report and record first-hand data from the insights they gather from customers daily.
Customers provide loads of VoC input through the course of interacting with your business. Here are some of the interactions that can be further mined for insight:
Finally, you can always ask customers for feedback. You can use either feedback tools tied to your customer experience, or more formal research studies:
Undoubtedly, gathering and organizing VoC data is the backbone of any VoC program. That’s why you must select the feedback collection methods that suit your company’s operations best. Better yet, you can utilize a customer success platform that gets all relevant data in one place.
Reviewing feedback data should be a collaborative effort between product, customer success, sales, and support teams. To streamline teamwork and avoid role overlap, establish who ultimately owns the decision on what to do with the refined data.
Cross-organizational collaboration is what makes a VoC program a hit or a miss. Strong leadership and well-organized role delegation are necessary to ensure every employee is meaningfully involved in the VoC program.
Seeing that frontline employees will take a more hands-on approach in the VoC program, you should spell out what you want them to do, what they are listening for, and how they capture insight on what they are learning. More so, you should have clear guidelines for your product and customer success teams directing them on what feedback they should prioritize during product innovation.
Quala is designed to help customer success teams in B2B SaaS companies make the most of customer data. We combine VoC insights from frontline teams with product usage and other data to provide a complete view of the customer and uncover insights, all in one place.
This unique application of VoC data triggers business workflows so your team can take action, fast. That allows your team to not only better understand customers, but also quickly act on VoC data.
Request a demo today to learn more about Quala.