What’s the difference between a successful and unsuccessful business?
Well, the successful ones understand their customers. How? They have great case studies. And how does that help them? Because they have really listened to what their customers are saying. And then they’ve used all the cool/ fun/ great/you’re downright amazing parts of that to show others that they’re great to work with.
They also know that business metrics like revenue and churn tell only a part of the story. Their customers make certain decisions, and they need to know their customer’s perspectives to make sure they make the right ones.
They are so up close and personal with their customers, and what makes them tick, they even know what they eat for breakfast. And this translates into having a know, like, and trust factor that gets them sales.
Here’s what Steve Jobs (you know, the fella who created that rather small company Apple) said about it: “Get closer to your customers than ever. So close that you can tell them what they need before they realize it themselves.”
He’s not the only one.
Why Are Case Studies And Voice Of Customer Data Important?
Your case studies often work hand in hand with providing ‘Voice of Customer Data’ (VOC).
You can use the research here to help you with absolutely everything! Seriously, your headlines, your web copy, what calls to action to use, your sales pages, and your brand. It’s like the blood that runs through your business and helps it function.
It’s like the fancy perfume or aftershave you wear if you are going out on a hot date and want to make an impression.
Case studies and your VOC help you not only attract but speak the same language as your audience.
And the best bit? It gives you the best chance at keeping them as clients and coming back for more.
It is absolutely imperative for business functions like customer success, operations, and product development.
It’s down in the trenches research that helps these departments. If you are a small biz, you, to identify and improve all stages of your customer’s journey.
And it’s also used by the bigwigs themselves.
Apple CEO, Tim Cook, responds to up to 100 customer service emails every single day.
And Jeff Bezos, a VOC data advocate, has been known to forward emails from unhappy customers to his team members demanding issues to be fixed immediately.
What is Voice of Customer (VOC) Data?
Voice of customer data is a research strategy to help you discover what your customers think of your business, product, or service.
The term was first used by Abbie Griffin and John R. Hauser in a 1993 MIT Marketing Science paper, titled “The Voice of Customer” who described VOC this way:
[VOC] provides a detailed understanding of the customer’s requirements, a common language for the team going forward in the product development process, key input for the setting of appropriate design specifications for the new product or service, and a highly useful springboard for product innovation.
There are two really important things to take note of here:
- “Detailed understanding of the customer’s requirements” – this means you get the best possible insight into what your customers really want from your business, product, etc. because it comes directly from the people you want to buy from you
- “Common language for going forward in product development” – because you have this specialist inside knowledge, your voice of customer data enables you to put rockets into your business and make it take-off faster than a US space shuttle and go straight to the right destination.
So if you want to look at this in terms of ROI if you get yourself some juicy case study material, check out this Gartner research that recently discovered that collecting customer feedback can increase upselling and cross-selling success rates by 15% to 20%.
The same report found that you can also help decrease the cost of retaining your buyers – as companies that actively engage in getting VOC to spend 25% less on customer retention than those that don’t.
Another study, by The Aberdeen Group, called “The Business Value of Building a Best-in-Class VoC Program,” discovered that companies using case studies have higher client retention, better employee engagement, and spend less on customer service.
The Stages Of Compiling Your Case Studies
Did you know 86% of customers are willing to pay more for a better customer experience?
That’s why companies in the know are beginning to see a far greater opportunity to keep and grow a customer base by gathering this data than content, mobile, or personalization.
The reason for this is simple:
Customer experience encompasses the entire buyer’s journey and beyond.
It starts from when a prospect hears about your company and continues with every interaction with your company until they eventually stop being a customer – the full end-to-end customer journey.
If now you want to know how to get yourself this Holy Grail to keeping your clients, read on.
There are three stages to follow when you put all this juicy VOC together:
- Collection – Using methods like surveys, etc. to gather information from your customers
- Analysis – Examining responses to uncover commonalities and customer expectations
- Implementation – Acting on the insight to improve relevant areas of the business.
This is the process I use with client’s when we put together their in-depth reports on their case studies.
And they end up with quotes they can use on social media, and their website. They also get some great PR options and in-depth insight into exactly the right language to use to attract and retain potential clients across their branding.
Questions To Ask When Compiling Your Data
Here are some great questions you can use to collect that essential info:
What characteristics did you look for in our company/product?
This is a great starting point and removes your company from the conversation and directs the attention to your customer’s interests. By asking this type of question first, you give the impression that your interests are more customer-driven.
Check out the vocabulary they use. This can help you ascertain their pain points and how you can speak to your clients through your copy. Speak-a-their-lingo!
What comes to mind when you think about our [company name/product]?
Here’s your customer reaction to your company or product. This essentially acts as an approval rating
How can [your company name] improve your customer experience?
You’ll get some crazy answers here, which you’ll think would take years to implement. But it’s a great way to check customer loyalty.
Successful companies know most valuable customers spend nearly three times more than others. So, when they’re sorting through responses to include those who are loyal in business decisions. Everyone wants to be included, right? And if your customer is spending more, then you should value how they think.
Name a competitor you would prefer over our product or service and explain why you would choose them
Here you get to find out who your direct competitors are, in your customers’ eyes. And you also get to see why they might switch.
Would you recommend [company/product] and why?
If someone would recommend your company to others, you know you’ve nailed the know, like, and trust factor.
They won’t suggest you to anyone if they don’t think you can do the job, right? If you want a bit of extra information, ask them who they would recommend you to. You might be surprised!
Conclusion
Case studies are critical to the growth of your business. Collecting customer feedback through surveys, interviews, focus groups, and social listening can help you uncover areas where your company fails to deliver on customers’ expectations. You can then use this feedback to make your product better, create more compelling marketing copy and deliver an improved customer experience.
You’ll find increasing retention rates and annual year-over-year revenue far easier.
If you are interested in getting more information on how to hone your VOC for your brand, you can get in contact with me here and get a free audit of your material. Click on the link now.
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