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Peer Intelligence | Summer 2024

Voice of the Customer (VoC)

Transform generic member feedback into actionable insights

See how measuring client satisfaction with a well executed Voice of the Customer (VoC) program can drive enhanced engagement, retention, and strategic success.

By James West

Voice of the Customer is a term used to describe the process of capturing the client’s expectations, preferences, and dislikes. This is a key element in creating a product or service that deeply connects with the organization’s members and employers.

VoC extends beyond the initial process of data collection. It involves using a systematic approach to collect, analyze, and interpret client feedback. This approach turns vague generic responses from clients into measurable and actionable insights that can influence business strategies and operational decisions.

We are currently meeting with our clients to discuss their VoC programs and three distinct groups are beginning to emerge:

  1. Group 1 consists of clients that do not have a VoC program in place but understand the value of implementing one and are unsure where to start.
  2. Group 2 consists of clients that do have a VoC program but are not utilizing the full value of the program to help with decision-making and setting strategies.
  3. Group 3 are clients that have a VoC program and are using the results and incorporating the information into their operational decisions and business strategies.

The VoC program is unique in that it provides an independent benchmarking comparison between your scores and participating peers. Through the Peer Intelligence Network – CEM’s peer-to-peer messaging Board – there is the opportunity to engage with your peers who are at similar VoC journeys. We will be hosting ongoing discussion groups, webinars, and forums targeting specific areas of VoC programs.

Remember, a well-executed VoC program can lead to better member engagement, talent retention, and overall satisfaction. Let’s ensure that pension plans are well understood and appreciated by those you serve.


Peer Intelligence | Summer 2024