The Voice of the Customer

By definition, entrepreneurs go into business to provide a product or service desired by the market, based on their view.   It is very important to understand your customers’ buying habits and changing desires.  Without this information there is a possibility that the products and services you develop do not perfectly align with the market’s needs.

There are multiple types of survey formats, depending on the survey goals.  At a minimum, every business should be involved in conducting:

  • Transaction Survey – survey the customer’s experience regarding a recent service provided or purchased.  Common questions include overall satisfaction, willingness to recommend, satisfaction with eight to ten aspects of the sale process, ideas to improve the product or service.
  • Contact Survey – survey the customer’s experience when they called your Customer Service department recently.  Common questions include wait time, were your question(s) resolved, satisfaction with eight to ten aspects of the customer service process, ideas to improve the service.

At the end of both surveys, respondents should be given the opportunity to provide their personal information and request a call back.  This requires results to be reviewed when received, and personal calls made to the respondents in a timely manner, if that is what was requested.

The data collected should be analyzed and monitored, to identify product or service change recommendations.  The information should also be used to set satisfaction levels today, allowing you to gauge improvements or to quickly identify problems, over time.   Survey results and comments can be added to your marketing message or posted on your web site.

Businesses that are unsuccessful at this strategy run the risk of planning for more revenue than occur; and wasting valuable cash resources on developing and maintaining products or services not wanted by customers.

What is your experience?

Author: Regis Quirin
Visit Regis's Website - Email Regis
Regis Quirin is a financial executive with 23 years of corporate experience, i.e. New York Stock Exchange, JP Morgan Chase, and GMAC ResCap; and 15 years working with small and medium-sized entities, i.e. joint ventures, start-up entities, established businesses. In 2014, Regis published "Redesign to Turnaround Underperforming Small and Medium-Sized Businesses" available via Amazon.
© Copyright 2012 Regis Quirin, All rights Reserved. Written For: CFO Tips - What you need to know, to be a CFO TODAY!

Regis Quirin

Regis Quirin is a financial executive with 23 years of corporate experience, i.e. New York Stock Exchange, JP Morgan Chase, and GMAC ResCap; and 15 years working with small and medium-sized entities, i.e. joint ventures, start-up entities, established businesses. In 2014, Regis published "Redesign to Turnaround Underperforming Small and Medium-Sized Businesses" available via Amazon.

31 thoughts on “The Voice of the Customer

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  13. Regis –

    Great post. Do you have an interest in working at Ogilvy CommonHealth in Parsippany? If you do, give me a call and we can talk about our needs for people in the finance dept.

    Robert

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