This report highlights the importance of actively listening to the voice of the customer (VoC) in order to meet their needs and improve customer experience (CX). It states that brands need to have a clear understanding of how customers and prospects are feeling in order to survive in today's market, and that collecting and acting on feedback can lead to increased upselling and cross-selling success, improved Net Promoter Scores (NPS), and improved revenue from customer retention. The report notes that many brands are not effectively using customer feedback, with only 14% of respondents in the CX Network's CXN Big Book: Customer Insight Data and Analytics Report stating that customer feedback always reaches the relevant business units for action. The report offers practical advice on how to implement best practices for reading customer signals, collecting feedback from diverse sources, and acting on feedback to improve CX. It emphasizes the importance of anticipating customer intent and implementing strategies to overcome pain points and causes of customer churn.
