Increase Your VOC ROI by EFM: Making Sense of the Alphabet

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Increase Your VOC ROI by EFM: Making Sense of the Alphabet
By: Marc E. Carlson, RRP
CustomerCount© Business Relationship Manager

Estimating what your organization’s ROI is on the VoC program can be a difficult number to calculate. There are a lot of variables that factor into the equation. Survey delivery rates, response rates, timeliness of receiving the feedback, impact on metrics gauging customer satisfaction or loyalty and the process for communicating results within your Enterprise Feedback Management (EFM) system. It is the latter that has the greatest impact on the overall ROI of your VoC program.

In order to improve your VoC ROI, it is imperative that all business units in your organization have knowledge of the information being produced by your VoC program and that data should be shared via your EFM system. How else are key decision-makers going to know what works and what needs to be addressed if they aren’t kept in the loop? Far too often, results from a VoC program are shared only in silos that have the most contact with customers. In order for the ROI on your VoC program to improve, data sharing requirements need to be widened so you can better leverage the customer data your organization is continuously collecting. Try pushing the VOC results via your EFM system and I bet it makes a positive difference on your ROI.