Voice of the Customer (VoC) programmes are living up to expectations according to a new study, which reveals that 95% claiming they’re breaking even or generating positive value.

Additionally, the survey from Vovici, a Verint systems company, also showed that data mining is the highest priority among VoC initiatives, whilst budget is of lowest concern.

Nearly 50% of respondents cited data-related issues (such as collecting the right data, getting data out of department silos, analysing and acting on collected data, and leveraging data across the organisation) as the biggest challenges.

According to the survey, marketing owns the VoC initiative by a near two-to-one margin, but the need for a VoC department remains. A quarter of those surveyed indicated that marketing takes the lead on managing the VoC, said the report.

Nancy Treaster, GM at Verint Enterprise Intelligence Solutions, said: “These findings serve as further reinforcement to the power and strategic importance of Voice of the Customer programs and the undeniable impact they can have on customers, employees and businesses alike. The issue of customer loyalty and the need for organisations to understand how to best meet their customer needs is a strategic imperative for all organisations.”