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JD Power VoX: Holistic Approach to Customer Experience Monitoring and Management

March 27, 2015

One of the more interesting challenges in a world where enhancing the customer experience is now at the top of C-level lists everywhere is how to analyze and optimize those experience to drive financial results.  For over 45 years, Westlake Village, California-based J.D. Power has specialized in helping organizations better understand the voice of the customer, and they have just introduced something that is sure to capture executive attention.

How so?

J.D. Power has launched VoX (Voice of Experience). It is a holistic solution enabled by an innovative technology platform that according to the company brings together, “Knowledge of the competitive landscape garnered from Voice of the Customer data, a wealth of industry expertise, and an international reputation as one of the world’s most trusted and recognized brands in consumer ratings.”

Source: J.D. Power

What VoX does according to J.D. Power is display interactive data for all levels of an organization, from executives to the front-line staff interacting with customers, to determine how to improve the customer experience and drive loyalty, advocacy, sales and service. The VoX platform enables enterprises to continuously measure and manage their performance to gather the right information needed to drive the right actions.

“J.D. Power’s VoX is our approach to managing the entire customer experience, combining our industry expertise, proprietary benchmarks and our VoX technology platform to empower companies with clear, actionable analyses of how best to exceed expectations, create loyal brand advocates and drive profitable growth,” said Rocky Clancy, vice president of financial services at J.D. Power. “Companies understand the importance of customer service and are searching for a set of solutions that generate quantifiable results.”

For years the relationship between great customer service and improved financial results has been known. Research has confirmed that organizations with higher satisfaction have customers who are more amenable to upselling and more likely to recommend and repurchase. “Most companies understand the customer satisfaction performance equation,” said Clancy.  “Where many struggle is in trying to do too much, or focusing on the wrong things. As a result, they get frustrated with their lack of progress in delivering a higher quality customer experience, as well as in realizing the subsequent financial benefits associated with it.”

Six Barriers preventing meaningful improvements in customer experience

In conjunction with the launch, J.D. Power has released an informative report, Overcoming the Six Barriers to Delivering an Outstanding Customer Experience. Specific areas of focus in the report include the following:

  1. Focusing on the symptoms rather than the primary cause of the problem, which is most often a culture that is not customer-centric.
  2. Missing critical trends in customer preferences, changing customer demographics and competitive reactions because of a too insular view of their customer.
  3. Not really believing—based on inadequately prepared business cases—that an improved customer experience will actually drive better financial results.
  4. Inability to focus sufficient attention on and execute the critical handful of improvement opportunities that will have the biggest impact.
  5. Failing to deliver an optimal experience at critical “moments of truth.”
  6. Measuring customer experience but not acting on the results and aggressively managing improvement.

“The J.D. Power VoX solution set with its industry benchmarks, customer experience consulting, channel interaction optimization services and range of tools for measuring and managing performance is specifically designed to help companies overcome these challenges,” said Clancy. 

As J.D. Power points out, getting to a culture that has continuously enhancing the customer experience is challenging, and it all starts with defining a unique value proposition.  As illustrated below, once that value proposition is defined, it then becomes central to ensuring it is supported holistically.

Source: J.D. Power, Overcoming the Six Barriers to Delivering an Outstanding Customer Experience, March 2015

Given all of the moving parts in capturing customer experience data, analyzing it, and turning into best practices for improving customer experiences does call for a holistic approach. J.D. Power is in a good position to provide the insights needed in what is already a market where such tools for better monitoring and managing of the customer experience are becoming mission critical. 

Edited by Dominick Sorrentino