The evidence of a relationship between customer experience and financial performance gets clearer every day. More and more, organizations realize the importance of collecting, measuring, and acting on Voice of Customer (VOC) feedback to help identify and predict the outcomes that will have a tangible impact on their businesses. A new report from Forrester Research defines the stages of VOC program maturity inside organizations, and profiles almost 30 VOC software vendors in the market.
We are pleased to be featured as a Customer Feedback Management (CFM) vendor in the new report, which calls out ForeSee CX Suite for its “more robust capabilities along the VOC cycle.” Forrester also points out that this is a fragmented landscape and, as VOC programs mature, companies are looking for one solution to consolidate tools and capture the full voice of the customer. As evidence of that, we have bested or replaced vendors like Medallia and Qualtrics in the past quarter as the VOC partner of record for seven different companies that want to manage their customer experience intelligence from one place.
However, Forrester does a good job outlining three stages of VOC program maturity as foundational, advanced and state of the art. See the table below.
It’s no surprise that “VOC programs become more complex as they mature” but the new report only skims the surface about the importance of using credible science and context in the more mature stages. VOC program leaders must apply a proven scientific approach to CX measurement that identifies the real drivers of customer experience. That’s only possible with a market-tested methodology based on a cause-and-effect framework that accurately predicts the outcomes that will have the biggest, tangible impact on their business. Companies must also benchmark every touchpoint in the customer journey to measure against their competitive set, and top performers in other industries, to give context to their decision making.
I know what an enormous undertaking it is to research and compile reports like Forrester’s latest vendor guide. (We publish our own extensive research on customer experience.) And, it’s an important service to the people building VOC programs in such a fragmented vendor landscape. Our advice is to look for a partner that empowers you to measure the entire customer journey with predictive science, to benchmark CX performance for context, and to prioritize improvements with certainty.
To learn more about ForeSee CX Suite, download our solution sheet Not All VOC Software is Created Equal today.