A product launch that generates influencer buzz and proves your company is a trend-maker. Brewing controversy about your brand on social media. Varying online reviews on your brand’s site and popular e-commerce sites. Tackling all that customer feedback might seem overwhelming, but from the perspective of AI analysis, it boils down to a rich source of data. That data’s greatest value and competitive edge comes from the action you take on it.
When analyzed through AI text analytics tools that provide detailed insights, customer feedback data tells you more about your customers than ever before, getting to the heart of why they feel the way they do about your products, services, and ultimately, your brand. It not only lets you find out what are people saying about you from day one and throughout the customer journey, but provides insights for following through on that feedback—with positive results.
Data’s greatest value and competitive edge comes from the action you take on it.
In that sense, customer data needs to be looked at strategically. McKinsey research shows that organizations that leverage customer behavioural insights outperform peers by 85 percent in sales growth and more than 25 percent in gross margin. To get the most out of your feedback, you need tools that inspire well-timed, calculated action, based on insights from the data sources that matter most to you and your team, whether you’re a leader in customer experience, sales or product development.
As a customer feedback solution, Keatext makes AI text analytics operational for your organization. This is how we do it.
How AI-analyzed customer feedback drives action
An advanced tool for linking customer feedback and related metrics with ROI across departments, AI text analytics is the engine behind Keatext’s sophisticated feedback management solution. This technology uncovers the meat and nuanced sentiment behind a variety of customer feedback, from thousands of unstructured customer reviews gathered from online retail and other consumer sites, to social media platforms.
The way customers think and feel predicts how they act.
Once you’ve analyzed that blend of qualitative and quantitative data, the next step is making use of that feedback. How customer data provides actionable insights on customer behaviour and decision-making is at the core of Forrester’s 2019 report How Customers Think, Feel, And Act: The Paradigm Of Business Outcomes, which shows that “the way customers think and feel predicts how they act” and that “small data is better at conveying how customers think and feel.” The report’s recommendations details how brands can use insights from AI-analyzed data, including to:
- Add context. Insights are by their nature contextual, telling hundreds of customers’ stories through their own words and linking those stories together to show both the bigger picture and the details at once. Those insights often reveal how different customers relate to a brand on an emotional level.
- Develop a holistic customer view. It’s all too easy to get lost in transactional and interactional data to explain how consumers act, when the truth is that how customers act always changes with context and time. If you want to engage customers more effectively, solve problems add value, look at data that is quantitative and qualitative and comes from multiple sources, revealing how customers really think and feel—then incorporate those insights into your broader strategies.
- Break down company silos. Collected, analyzed and acted upon deliberately, the same data can connect different departments. AI feedback analysis provides insights that are tailored to certain leaders and strategies yet anchored in the same customer feedback. With the same access to data, departments can share their perspectives and collaborate separate actions they plan to take.
Follow the customer journey through data
If you’re already feeling inundated with data analytics and are struggling to get the most value out of both the technology and your data, you need an action-oriented solution. For CX and other customer-facing leaders, Keatext’s analysis and insights validate the development and personalization of customer relationships throughout the customer journey.
A product’s reviews can increase its conversion rate by more than 270%.
Attracting and retaining customers means being thoughtful, attentive and strategic about every customer touchpoint and experience. A complete AI feedback solution lets you continuously gather data about customer sentiment at multiple points throughout a product’s lifecycle, including pre and post-product launch.
Next, Keatext lets you monitor, reply and engage with all feedback, including negative feedback, instantly—especially important when a product’s reviews can increase its conversion rate by more than 270%. Quick engagement with customers keeps ratings high. You can also track changes in metrics over time and measure results of VoC-initiated activities and their impact on customer loyalty.
Ultimately, in an increasingly competitive landscape, you’ll be able to use these insights to monitor the performance of your products from the perspective of customer experience and sales, allowing you to understand and anticipate new trends and pain points before they impact your brand’s reputation and identity.
This level of solutions-oriented data analysis all in one platform ensures that the right insights are being addressed by each of your organization’s teams so they can meet and integrate goals for customer experience and brand awareness, sales and product development, budget and ROI and beyond—all the while staying ahead of industry trends.