Importance of the Voice of the Customer
Customers speak with us in a variety of ways using a variety of channels e.g. surveys, social media, customer service, product reviews, etc. In this day and age of intense competition and shifting customer preferences, it is paramount for all companies to have a pulse on the voice of the customer (VoC) and more importantly, be able to react to and address customer needs.
Challenges with Harnessing the Voice of the Customer
However this is easier said than done.
- Multiple Diverse Channels – Customers speak with us via channels and at times that are convenient to them. They may fill out online or offline surveys – some companies run regular customer satisfaction tracker studies for this as well. Some customers may reach us via social media like Facebook or Twitter, some may reach us through our customer service channels (phone, web or email), and some leave product reviews either on our own site or on other sites like Yelp. Gathering information through these various formats is a non-trivial challenge
- Analyzing Customer Feedback By Channel – Once information is gathered, it needs to be analyzed appropriately. For instance, social media or web/email customer support needs to be analyzed using text analytics and NLP. Surveys need to be analyzed using more traditional statistical techniques
- Aggregating Customer Sentiment – Channels have inherent biases built into them. For instance, customers usually contact customer service when they have an issue – they rarely call to express their love or admiration for the company. Hence the customer service channel has a negative bias built in. However, while filling out surveys or product reviews, they would be more likely to leave positive feedback, thereby introducing a positive bias. It is desirable to correct for these biases before computing an aggregated score and tracking it over time
- Tracking over time – most companies lack the infrastructure to track the voice of the customer systematically over time
- Acting on Customer Feedback – needless to mention, addressing customer concerns and grievances is paramount and may not be a simple endeavor
Management Foresight Solution
Management Foresight can solve this problem end-to-end.
- Complete VoC Solution – the infrastructure to gather the voice of the customer across multiple diverse channels, track results over time, analyze the inputs, compute customer sentiment, and track/report overall customer sentiment (in the form of a VoC score) over time. To accomplish this, we leverage both traditional analytics as well as text analytics capabilities from the Gamma Analytics™ NLP module
- Improving the Efficacy of Response – we can improve the speed and efficiency of responding to customer concerns by automatically understanding what a customer is looking for, finding solutions for it, and sending it to the right person (e.g. Customer Service Rep) for acting on it
- Chat Bot – we can also help respond directly to customers by piping our solutions into a customer facing Chat Bot
Please Contact Us to get a copy of a case study demonstrating the results from this solution.