From Customer Feedback to Customer Insight using Data Analytics
There’s no denying that customer feedback helps understand the customer thoroughly. That said, merely collating feedback doesn’t result in anything tangible. You need a process in place that converts the cumulated feedback data into objective insight which is actionable. And data analytics presents a simple and effective means to accomplish this task.
Feedback collection is just the beginning of a series of next steps some of which are: What are you going to do with the data? How are you going to implement plans and policies that are in-sync with your customer demands? Therefore, as important as recording feedback, so is interpreting this feedback to derive meaningful insight–that’s where your entire ‘listening to the customer’ efforts would start paying.
Take, for instance, a newly launched food start-up known as Petoo, who are integrating analytics into their day-to-day activities to cater to people of different tastes. According to Abhiskel Mandal, the food expert of the team, vegetarian dishes are more popular on Tuesdays and Thursdays while customers order non-vegetarian dishes on weekends. An insight of this kind, is not only game changing but it also brings a lot of clarity into your customer experience projects.
As seen in the above case, incorporating data analytics into your customer feedback can be highly rewarding. Here are three reasons to substantiate this stance.
- Unravel insights before anyone else!
Brands are always thinking in terms of what to do next. How to pull off something truly extraordinary in order to stand out from the rest. Retail brands, in particular, are rallying to capture the voice of the customer by offering highly personalized & unique customer experiences.
In fact, brands are able to churn out creative solutions only by relying on insights into customer preferences, market demands, shopping patterns which include time and money spent, items bought and so on. All the insight you need lies in the customer data that is collected through feedback.
2. Quick Decision Making and Quicker Results
Whilst setting out to improve their customer experience, it is second-nature for many brands to expect instant results. At the same time, if brands don’t deploy data analytics, customer-centric decisions will be time consuming and also inaccurate. In an age where every business decision is metric-driven, one cannot overlook the power of data in determining the success of your customer experience improvement efforts.
Analytics on customer feedback can empower brands to expedite decision-making and also deliver instant results. How? Customer feedback helps you stay informed & aware of customer preferences that are constantly evolving. As a result, you can narrow down your focus onto specific elements of a customer’s journey that brings immediate quantifiable results in customer satisfaction scores and customer delight meter scores (haven’t heard of it yet? find out!) to the table.
3. 360 Degree Visibility of the Customer
Data analytics takes into account every single facet of your customer’s experience with your brand. In other words, a 360 degree view of your customer is captured and projected to you. Every bit of information is analysed and drilled down to understand the customer as a whole, transcending the mere transactional relationship.
This way, attention to detail becomes a part and parcel of your customer experience! Moreover, it becomes easier to address customer sentiments and other subtle issues which customers do not openly voice.
The work that goes into delivering an excellent customer experience is immense. In the past, brands had to keep reworking strategies to identify the ideal recipe for customer success. However, with the advent of data analytics, it has become easier to accurately identify customer demands. With customer feedback on one end of the spectrum and a delightful customer experience, a crucial competitive differentiator of late, at the other end, data analytics is the vital bridge in between.
So, make the most of the customer feedback you collect! Here’s a good place to start!