October 15, 2014 Leave a comment
We just published a Temkin Group report, State of Voice of the Customer Programs, 2014. Based on data from 218 large organizations with at least $500 million in annual revenues, we examined VoC efforts within large organizations. The report includes a self-assessment and data to benchmark your VoC program. Here’s the executive summary:
For the fourth straight year, Temkin Group has benchmarked the maturity of voice of the customer (VoC) programs within large organizations. Despite a slight drop in staffing numbers and executive involvement, companies’ VoC efforts continue to deliver successful results. While companies today are investing more money into most VoC solutions, spending on text analytics and predictive analytics has increased the most dramatically over the past year. Looking ahead, companies plan on focusing less on multiple-choice surveys and more on interaction history and predictive analytics. In terms of metrics, our analysis shows that satisfaction and Net Promoter Score work most successfully at the relationship level, whereas Customer Effort Score works most successfully at the transactional level. Respondents also completed Temkin Group’s VoC Competency and Maturity Assessment, which examines capabilities across what we call the “6 Ds”: Detect, Disseminate, Diagnose, Discuss, Design, and Deploy. Only 11% of companies have reached the two highest levels of VoC maturity, a drop-off from last year. When we compared high scoring VoC programs with lower scoring programs, we found that companies with more mature programs have better overall business performance, spend more on analytics, are more active on mobile, employ more full-time employees, take more action with the insights, and enjoy more executive support.
Here are results from companies that completed Temkin Group’s VoC Competency and Maturity Assessment (one of the 25 figures in the report):
The bottom line: VoC programs have a lot of maturing to do