The ultimate goal of any business has always been creating a long-lasting relationship with their customers and not to lose them for a competitor. But in order to do so, every brand has to analyse and coordinate all the information, about them and from them, that technologies can gather!
These days what could be companies’ new biggest ally? The voice of the customer.
What customers want, need, appreciate or dislike about brands’ products and services has always been a very hot topic…now more than ever. If the evergreen concept of word of mouth has taught us something is that: taking good care of your clients is the key to a lasting relationship and for them to become your strongest ambassadors.
However, even if the VOC has never been this loud, thanks to the digital revolution, most companies still don’t know how to access and process all the information and this can be very damaging. Positive feedback, but even more the bad one, has never spread this fast on the internet as a consequence of all the touchpoints available in our world (social media, blogs, websites, review platforms etc.). With the variety of available tools there isn't a scenario where you don't know what your customers think and want, but still have yourself on top of the game.
But what are the main benefits of VOC technologies?
As we said before, today’s challenge for brands is to be able to process (almost in real-time) this enormous number of comments and opinions that float on the internet, in order to define the next best action based on data. Specifically, this past year companies have focused on finding ways to collect, analyse and react to these feedback, reviews and opinions that customers and prospects were sharing on the internet. As analysed in the annual report by GreenBook, 2020 was the year of deep digitalization for many companies and various methods of analysis were adopted:
Social Media analytics
Big data analytics
But essentially what are the main benefits of the solutions that allow for the analysis of the voice of the customer, and which technologies can be easily integrated to achieve these goals?
- Improved CX: customer feedback analysis allows to understand what is needed, appreciated, or requires changing. A simple example can be a website that doesn’t allow a seamless user experience or doesn’t have a knowledge base available, forcing customers to call the contact centre, write an email etc. when they could simply find a solution in the FAQs section.
- Increased customer loyalty: when they feel taken into consideration, have a positive experience (both in the bricks and mortar shop as well as online with an agent) or receive discounts and updates that are tailored to their needs and history, they become the first advocates of your brand. Thus helping you broaden your customer base.
- Products and services improvement: collecting customer feedback allows us to understand the features of an existing product/service that need to be updated/modified in order to satisfy your client base. Most importantly, it can be integrated in the market research process and decide the products and services that need to be launched in order to compete with other brands.
- Higher competitive advantage: customers’ expectations are continuously changing, and being capable to listen to their feedback not only helps you understand who your competitors are (and what they are doing), but especially how they manage to attract them, and keep them, as loyal customers.
- Stronger brand reputation: if you are aware of how your customers see you, what they say and what they think of you, you can better manage your brand reputation and any crisis that might involve it. For example, it can help the brand in avoiding taking part in an event, campaign or discussion that might damage the perception of the brand and the relationship with their customer base.
- Better customer service: the analysis of the VoC enables the improvement of the customer experience (online and offline) and reduces occasions of churn, complaint and useless contact with the customer service. By knowing what your customers want or what they don’t appreciate - like a section of the website that isn’t user friendly, can help you improve and help agents focus on high value activities.
But what are the solutions that can help a brand collect all the information, analyse it, store it in one place and then use it to create a data-driven strategy?
Nowadays, brands can rely on various AI-based technologies that help businesses perform to their full potential, but only a few of them are user friendly and are ready to use, such as Wonderflow. With this type of tools, the quantity and quality of the insights that you can rely on are definitely higher compared to traditional market research. The data collected through a technology developed for enterprise use, allows us to improve the marketing strategy and the monitoring of the most important metrics for your business.
What’s ideal for a brand is to have a platform capable of working on multiple languages and with a wide data coverage that gives an in depth analysis of the sentiment through artificial intelligence. Wonderflow can give you exactly that!This technology can collect and analyse clients’ feedback coming from multiple touchpoints: social media, blogs, websites, app stores and your contact center (for example: email, chat, calls) in order to increase customer care efficiency.
- Reduce unnecessary interactions and increase customer satisfaction. Clients can be helped sooner, guided better, or the website communication can be improved.
- Increase agents’ satisfaction and productivity. Learn how to better support your agents to improve their communication and problem resolution skills when communicating with customers.
By anticipating clients’ requests, companies can spend more time building long-term relationships, improving the overall customer experience and fixing issues, all of which results in higher customer retention. Wonderflow can help you analyse open feedback from NPS surveys, integrate several different touchpoints from the customer journey (for example Onboarding, Relationship, Customer Care Inbound, etc.), learn how to improve your KPIs - like the satisfaction rate, and optimise your processes.
- Improved CSAT and Lifetime Value of customers, by identifying the drivers of satisfaction or dissatisfaction
- Reduced customer churn, by analysing why customers decide to switch to a competitor
- Learn new products or services to add for your customer base and what changes need to be applied to existing offers in order to generate more value.
In conclusion, “Voice of the Customer programs have become a strategic asset for most customer-centric CEOs, CMOs and customer experience leaders,” says Chuck Schaeffer, Go to Market Leader at IBM.
This shows that today everyone is focusing on truly becoming a customer-centric company, putting customers first and improving the CX experience… but in order to actually do that, what you truly need is a technology that guides you in the analysis of your customer’s voice and suggests the next best actions.
Contact us to discover more on the best solution for you…Don’t miss a chance to come out stronger than ever!
Lucia Manetti - Marketing Specialist at Wonderflow and Christopher Greco - Product Marketer at Wonderflow