How the Customer Voice Impacts a Business - CallFinder
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How the Customer Voice Impacts a Business

October 24, 2014 by Morgan Pulitzer

For several years it seems businesses missed the mark on what their customers really wanted. As the digital movement was growing at an incredible pace, with new digital advertising techniques being launched weekly (it seems, that may be an exaggeration), the importance of the human voice got lost.

What we know now, after many research studies and surveys have been conducted, is that people would still rather connect with a company over the phone.

Why Consumers Prefer to Call a Business

Ultimately, they feel they have stronger connections, are more productive, they get more accurate information than they would over live chat or email, and they feel more confident that they’re getting what they want. Here is the data from a recent response tap study that proves it:

  •  61% of consumers find it very important to be able to pick up the phone and call a business.
    – good to note that it’s critical to always include your phone number in all  materials that reach your customers, not just a URL
  • 74% of respondents in the survey said that speaking to an operator on the phone gives them peace of mind and confidence that they are getting exactly what they want.58% of people value speaking to just one person at a company, and hate being passed from person to person, and
  • 57% would rather speak to someone local rather than in another country.

How the Phone Is Impacting Consumer and Business Decisions

Our take-away from this data is that the phone continues to evolve and remain relevant in the overall marketing strategy for businesses across North American and beyond. Making a connection over the phone with a customer service agent, and feeling that you’re resolving issues quickly and efficiently, is priceless in today’s environment where consumers are maxed out and squeezed for time.

It’s also interesting to note that while we spend a great deal of time researching a purchase online, where we could easily buy with a few clicks, we still would rather pick up the phone, make a connection and feel satisfied with our decision to spend our money with a particular company. On the flip side, having a bad experience with a company over the phone could very well deter someone from making that purchase, which is why the customer experience and how we’re handling calls is so important to keep a pulse on.

Other data that is helpful to keep in mind when considering how the consumer influences a business, outside of making purchases and spending their money:

  • 60% are often or always willing to pay more for a better customer experience.
  • 66% would be willing to spend more with a company – 13% more, on average – following an excellent customer service experience.
  • 55% would cease buying from a company that provides poor customer service.
  • 89% of consumers began doing business with a competitor following a poor customer experience.
  • It takes 12 positive customer experiences to make up for one negative experience.
  • It is 6-7x more costly to attract a new customer than retain an existing customer.
  • 70% of buying experiences are based on how the customer feels they are being treated.
  • Consumers are 2x more likely to share their bad customer service experiences than they are to talk about positive experiences.

Business Benefits of Capturing the Customer Voice

Today, nothing is more valuable to your business than the voice of your customers. Voice of the customer analytics deliver significant knowledge to help shape future business decisions, training solutions, and ultimately reduce costs.

Given that people prefer to call a business they’re spending money and time with, it becomes increasingly important for businesses to understand what is taking place during those phone calls. Why are customers calling? Are they happy, or are they canceling?

The answers to these questions, on a thirty thousand foot level right down to the answers within a specific conversation, are available. Trends in consumer patterns can be detected and measured, and analyzed for business process improvements, agent performance improvements, and more.

Learn how to capture the voice of your customers using speech analytics applications to extract the content of your phone calls with customers into digestible chunks.

We’d love to talk more about this advanced technology, and learn more about your business needs. Contact us at 1-800-639-1700.

 

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