Did you miss the electrifying “The Future of VoC Programs: Insights & Predictions for 2024 and Beyond” webinar? Fret not; this blog recap serves as a discerning lens, distilling the key takeaways for astute VoC practitioners eager to navigate the exciting terrain ahead. The landscape of customer understanding is shifting under the influence of transformative technologies like Generative AI and evolving consumer expectations.
We’ll dissect the predictions and insights shared by our panelists Colleen Fazio (Senior Analyst, Forrester) and Ashish Nagar (Founder & CEO, Level AI), examining how they challenge prevailing paradigms and illuminate novel pathways for amplifying customer voices. Prepare to forget survey fatigue and embrace a future where AI unlocks deeper empathy, real-time feedback transcends mere data points, and actionable insights fuel tangible improvements in customer engagement.
Forrester Predictions for 2024 with Colleen Fazio:
- Improvement in Global Customer Experience: For the first time in three years, the global customer experience average is expected to improve, partially due to generative AI improving customer service.
- Experiments with Customer-Facing Generative AI: Half of the large global firms will experiment with generative AI in customer-facing roles, although not all experiments may succeed.
- Linking CX Metrics to Financials: Half of large global firms will report CX metrics, but only 5% will link them to financials, a crucial step for demonstrating the value of customer experience initiatives.
- Challenges with CX changes: There is a risk that one-third of brands might launch experiences that are biased, inaccessible, or harmful.
- Resource Constraints for CX Teams: 40% of CX teams may struggle with inadequate resources, leading to turning away work and potential erosion of trust and credibility.
Key Focus Areas for CX Leaders:
Voice of the customer (VOC) programs are crucial for collecting and analyzing customer feedback. Liam (Listen, Interpret, Act and Monitor) 2.0, an updated framework for VOC programs that emphasizes: The new model emphasizes proactivity, effective monitoring, integration across data sources, and alignment with business goals.
- Embracing Comprehensive Journey Views: Moving from survey reliance to a comprehensive view of customer interactions across all channels.
- Connected Research and Coordinated Efforts: Aligning various research efforts within the organization and using generative AI for synthesizing insights.
- Proactive Action and Systemic Focus: Shifting from reactive service recovery to systemic improvements in customer experience.
- Monitoring and Measuring Impact: Linking Cx interventions to business outcomes and shared organizational goals.
- Focus on Unstructured Feedback: Collecting and analyzing unstructured feedback is crucial for understanding the nuances of customer experiences.
- Collaborate Across Teams: Building connections with other research and insights teams within the organization to create a unified approach to customer experience.
- Utilize AI Effectively: Exploring current and future AI capabilities to enhance customer insights and experiences.
How Level AI is shaping the future of VoC with Ashish Nagar:
Traditional methods of gathering VoC data, such as surveys, app reviews, and social media feedback, often lead to a limited and sometimes skewed understanding of customer experiences. The low response rates and inherent biases of these methods make them a very poor dataset to derive insights from. However, the vast number of customer service and sales interactions available across various channels is an often overlooked source of unbiased data.
Level AI’s VoC Insights
Unlock the power of your customer’s voice with Voc Insights! Discover hidden trends, emerging themes, and root causes of issues in real-time by mining 100% of your customer interactions with next-level AI.
- Generative AI-Powered Insights: VoC Insights brings generative AI to analyze 100% of customer conversations, including calls, chats, and emails, providing proactive insights.
- Real-Time Sentiment Analysis: Sentiment scores that identify a wide range of emotions to bring an unbiased look at customer satisfaction and beyond.
- Trend Detection and Anomaly Analysis: Rich, prebuilt persona-specific dashboards that bring the power of customer insights to every team.
- Actionable Insights for Business Teams: VoC Insights identifies the root cause of issues by generating specific actionable customer concerns and multi-level topic categorization for every interaction.
Case Studies and Business Outcomes
VoC Insights is battle-tested and has a track record of delivering for our customers. Here are a few examples of VoC in action across different industries and environments.
- Food Delivery Service: Identifying specific restaurants causing delivery and quality issues, app payment method problems, and refund request trends.
- E-commerce Platform: Detecting website fraud and impersonation issues through analysis of millions of conversations, highlighting the system’s capability to protect customers and the brand.
- Financial Services: Rapid identification of customer dissatisfaction due to policy changes, enabling quick course correction.
Get a free demo today!
Your customers will thank you for it!