5 Reasons Consumer Goods Companies Are Turning to Voice of the Customer Programs
July 6, 2017
Did you see that great comment someone posted on your product’s Facebook page today? What about the less than glowing yet aspirational review someone just left? And weren’t there some chats on that same topic recently?
Consumers are talking, that’s for sure. Now, don’t get me wrong. For as long as there have been consumer goods companies, there have been surveys. They are essential and have enabled companies to stay consumer-focused and shaped countless products. They just might not be enough anymore.
Per Nielsen, Consumer Goods will see more change in the next five years than the last 50. Just for starters …
- Products will be different. Many brands will be new. Traditional “category” definitions will lose utility and meaning.
- Consumers will become increasingly diverse in their tastes and priorities and own a louder voice with broader influence on your brand image.
- Shopping habits will evolve. New online-enabled channels will emerge.
To set your brand apart, Nielsen believes you’re going to need deeper research to uncover needs and aspirations that current products on the market do not meet.
Enter Voice of the Customer (VOC) programs, and there are five reasons consumer goods companies are turning to them:
1. VoC programs analyze structured and unstructured data – VoC programs combine valuable survey results with the rich feedback on expectations, preferences, and aversions that consumers provide in emails, chats, calls, product reviews, and posts on Facebook and Twitter product pages. And when combined with demographic and sales data, they deliver a single view of a given topic or brand.
2. VoC programs deliver a global perspective – Surveys and focus groups only address a portion of the target audience. VoC programs are not bound by geography. One consumer goods company analyses more than 100 million pieces of customer data in more than 10 languages each year.
3. VoC program feedback is near real-time – Surveys are situational, and consumers are continually in motion. VoC programs are literally able to keep up with every comment and have actionable insights much sooner than they would otherwise.
4. VoC programs can be automated – How well are you keeping up with every comment for every product from every source? VoC programs leverage technology to do what many Brand and Product Managers are trying to do manually. One Product Manager could hang up her Excel spreadsheet and receive deeper product insights on a weekly basis.
5. VoC programs can reduce your reliance – and spend – on surveys – Let’s face it, surveys are expensive, especially if you’re conducting a lot of them. With VoC programs, you may find you can reduce how much you’re spending on surveys. One global consumer goods company saved over $3M.
With such a complex industry, rapid change on the horizon, and ever pickier consumers, can you afford to not consider VoC in addition to surveys?
If you want to see how some of your peers are applying VoC, check out our new eBook The Magic of Consumer Feedback: 4 Ways Consumer Goods Companies are Tapping into the Voice of the Customer.