How to capture voice of the customer?

Everyone keeps telling me how important the voice of the customer is, and obviously it is key to driving the correct product requirements.  There is such a range in our customers, how should I start capturing this in a way that is useful for our product development?
Senior Manager, Tech, USA

As you mention, Voice of the Customer (VOC) is key to a customer insight driven strategy, design and development.  The main points for you to discover are understanding their pains, needs and requirements.  You will want to listen verbatim to their problems, characteristics, current capabilities, how they do things today, impacts and needs.  You will also want to look at data you have available such as customer satisfaction data, tickets and feedback.  You can then analyze this data to deduce information such as your customer profiles, situations and needed capabilities all based on their true needs.  Doing this in a valid manner is key, remember always, it is not about listening to their wants.  After one want, another will come.  It is about understanding their true needs and providing a solution that gives them value.  We have enabled our clients to effectively capture the voice of their customer through a range of techniques depending on their industry, customer profiles and goals.  

VOC can provide a deep and detailed understanding, a common language for the teams, customer driven requirements, a springboard for product innovation and assurance that you are creating true customer value. 

Start out by setting up some sessions with your customers so that you can start listening to them to capture the information detailed above.  Once you analyze it, ensure that you get all the functions together to understand it, then use it in the needed ways e.g. product using the needs to define requirements, development and designers using the profiles for understanding the customer so they can design better etc.  The voice of the customer should be understood by everyone as everyone plays a role in enabling the customer experience you are delivering..