Average tweets per minute: 350,000
Average status updates per minute: 293,000
Average likes per minute: 4,000,000
In a world where one tweet can make or break a business, these numbers have enormous importance in business analysis. ‘The voice of the customer’ is among the top priorities in today’s scenario. The insights generated from the voice of the customer can prove helpful to stay strong in the market. The voice of the customer provides the layout for improving the customer experience. The insights from VOC can be very useful for increasing marketing ROI and decreasing the customer services cost. It will help in the further development of the product. And, when the overall customer experience gets better, the customer retention rate increases as well.
What is Voice of the customer?
Voice of the customer (VOC) describes the in-depth process of capturing the expectations, preferences, and aversions of the customer to provide the best in class service. This process is all about being proactive and constantly innovative to capture the changing requirements of the customers with time.
Using a mixture of qualitative and quantitative methods, the voice of the customer should produce a set of prioritized needs that, when implemented, will improve the customer experience.
Getting insights from Voice of the customer
Customer feedback has always been an important part of the business chain. The traditional method of obtaining customer feedback is to approach them directly. It involves surveys, interviews, feedback forms, trials, and demonstrations. But these methods are very time-consuming and also expensive. The times have changed. The insights from the Voice of the Customer can now be explored by applying some Social Media monitoring techniques. At ParallelDots, we have an AI-based media monitoring tool that uses deep learning algorithms to give away the most useful insights in real time on a single dashboard. With this, one can find all the conversations related to any brand, product or service by tracking the appropriate keywords. Our tool helps you in the following ways to generate constructive insights from the voice of the customer.
Knowing what customers think of your product helps you in strategizing your future plans and rectifying the mistakes if any. With 9 out of 10 customers buying products after seeing reviews, it has become very important for the brands to listen to the voice of the customer, monitor the reviews and act on it for effective growth in business. Like in this tweet, the guy expresses his disappointment while criticizing Amazon’s customer service. Now, this is an actionable insight for the brand.
ParallelDots social media monitoring gives you immediate access to the conversations over social media as they happen. Feedback gathering becomes easier and that helps you unveil the trends that might impact your brand.
Identifying Influencers from the voice of the customer
Identify and reach out to the brand influencers that make a direct or indirect impact on your brand. The influencers can be identified based on the reach and engagement of their posts that mention your brand. Not only this, at ParallelDots, we also analyze the content they share to help you identify whether they endorse your brand or criticize it. Once, you identify your brand influencer whose interests align with yours, you hit the jackpot. Partnering with your brand influencer can get you their audience and expands your reach. Getting them to endorse your brand on their social media handles is a great way of advertising your brand to a wider audience.
Analysis of the sentiments from the voice of the customer
Extracting sentiments from the text is what we call sentiment analysis or opinion mining. Knowing the sentiments behind your product is a very useful insight for business health. These sentiments can be positive, negative or neutral. Our sentiment analysis tool provides the best analysis and gives sentiment scores to your product based on user conversations, feedback, and posts, the voice of the customer altogether. The analysis of overall sentiments of the texts can be applied to perform better consumer services and effective marketing. Here is an example of sentiment analysis of text as analyzed by our tool.
Popular Hashtags and Keywords from the voice of the customer
It is important to know what your audience likes to talk about in their social media conversations. The voice of the customer can be majorly accessed from the social media platforms. The trending topics with your brand mentions can be found out in the form of Hashtags and keywords. The above image shows a word cloud of hashtags and keywords for the cricket campaign that was held a couple of months back. The cricketers wore jerseys with their mothers’ name printed on the back. In this word cloud, the text in green correspond to the topics positively spoken for and the text in red correspond to those having negative reviews. In this word cloud, the hashtags, Nayi Soch, and equality are the positively spoken ones that are trending along with several other positive words, confirming the campaign’s appreciable success. This helps you to get updated with the industry trends. The issues that might develop or are the ones that are already clinging to your product can be easily checked upon with popular hashtags and keywords. You can always make your marketing strategies and campaigns involving these topics.
Customer satisfaction is a big responsibility. It requires more than just selling the product. The key to a healthy business is a happy customer. Voice of the customer provides useful insights that help you improve the performance of the products. Voice of the customer lets you understand the customer’s expectations and level of contentment.
At Karna-AI, a ParallelDots product, we deploy a range of cutting-edge AI techniques to derive meaningful insights from large chunks of unstructured text. This can be of great use to brands, market research companies and consulting agencies of all kinds. If you have any questions or suggestions, we would love to hear from you. our social media handles are on Facebook, LinkedIn, Twitter and Medium.
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