- by seg153, Prospector
- 10/13/2014 3:54:39 PM
From a former employee of Vanguard, I certainly was amazed at the amount of data I worked with and was a huge champion of using and collecting the VOC because if you don't try getting that feedback, nothing will change, but the company should have had incentives on getting that feedback to make improvements within the company and towards its customers. All in all, the VOC and VOIC (Voice of Internal Clients, internal departments working with others to help with VOC) at Vanguard is top notch. Even after leaving the company due to compensation/success of climbing the corporate ladder, I would still recommend investing with Vanguard.
- by Ariella, Blogger
- 7/18/2012 5:02:30 PM
@Noreen Having the data also assured Vanguard that its unconventional marketing approach would work:
in part by tracking business results geographically where the cinema ads were running and using marketing analytics from ThinkVine, which analyzes how various media work separately and in tandem with target consumers, Vanguard was able to determine that the funny ads worked. When they were used in the opening of a semi-annual investor meeting last year, that provided some additional validation that Mr. Ma had won over senior management.
All of it ties in with Mr. Ma's philosophy of measuring everything and targeting the hardest-to-achieve metric. He said new households have been that key metric in part because with net-promoter scores of 60 to 70 that rank north of such loyalty magnets as Apple and Harley Davidson, Vanguard has little trouble keeping new investors once it wins them.
- by BethSchultz, Blogger
- 7/18/2012 11:23:41 AM
Indeed, Noreen. I think Forrester and numerous other research firms spotted VoC as a major trend for 2012. Here's a good recap on the thinking around the VoC interest.
- 7/18/2012 10:13:41 AM
No, it didn't. Keep in mind the third winner was Cisco. But I suspect VoC programs have become increasingly important within industries that have suffered a loss of trust in recent years--and financial services certainly have
- by BethSchultz, Blogger
- 7/17/2012 4:23:44 PM
Hi Noreen, thanks for sharing another great look inside a company's VoC strategy. I have to wonder, given yesterday's example of Barclaycard, if financial services firms are a step of others when it comes to understanding how best to approach an understanding of customer experience. Did Forrester give any indication of that?
- by Callmebob, Master Analyst
- 7/17/2012 12:59:16 PM
As a contented Vanguard client, well, as contented as any investor can be who is subject to the caprices of the market, my experience bears out their emphasis on the customer experience. That also shows in their effort to reduce their management fees relative to their competitors. Nice to know my data means something to them.