Despite significant investment in voice of the customer (VOC) programs, most are not reaching their full potential, resulting in poor customer experience (CX) and unsatisfactory financial gains. This muted performance puts $3.572 trillion in global consumer spending—9.5% of sales—at risk every year, according to September 2021 research from Qualtrics XM Institute.
Key Question: How can C-suite executives reinvigorate their VOC program as part of their strategic plan to improve CX and boost financial results?
KEY STAT: Poor CX in the US puts $1.859 trillion at risk—almost 11% of total sales.
Here’s what’s in the full report
Table of Contents
- Executive Summary
- Most VOC Programs Don’t Deliver on Their Potential to Drive Value
- When the Right Data Is Synthesized with the Right Strategy, VOC Programs Deliver Optimal CX
- How Can Business Leaders Sustain Maximum VOC Value Across the Organization?
Charts in the Report
- Total Sales at Risk After Consumers Have a Bad Experience for Top 5 Countries, 2021 (billions)
Interviewed for this Report
- Tzachi Ben-Sasson, Amdocs, Head of Global VOC
- Diana Bhaktul, Forsta, Senior Product Marketing Manager
- Graham Clark, McorpCX, Vice President, Market Development
- Valerie del Perugia, CUNA Mutual Group, Senior Manager, CX Design and Strategy
- Christy Dempster, Roche, Senior International Marketing Manager, CX and Analytics Lead
- Manu Dwievedi, Etech, Assistant Director, Insights
- David Hentz, NCR, Global CX Leader, Telecom and Technology
- Jim Iyoob, Etech, Chief Customer Officer
- Marc Mandel, Concentrix, Director and SME VOC Practice, CX Strategy
- Greg Melia, Customer Experience Professionals Association (CXPA), CEO
- Stacey Nevel, Prudential Financial, Director, VOC
- Ken Peterson, QuestionPro, President, CX
- Mark Ratekin, Forsta, Principal Consultant, Global CX Consulting
- David Roberts, Alchemer, CEO
- Colin Shaw, Beyond Philosophy, Founder and CEO
- Michelle Spaul, Delta Swan, CX Consultant
- Shawndra Tobias, Etech, Vice President, CX