Adopting a smart approach to analyzing feedback keeps you a step ahead in the competitive era. Helping you be smart in every business action, smart feedback analysis helps you constantly expand your customer base.
Customer feedback helps organizations understand the needs and experience of their community and is thus essential to grow their business and retain customers. Technology is changing the way customer feedback is analyzed and leveraged. When you use Artificial Intelligence (AI) and Machine Learning to analyze the feedback, it becomes Smart Feedback Analysis. Here we will go into its details.
What is Smart Feedback Analysis?
Smart is an acronym that stands for:
S – Specific
M – Measurable
A – Achievable
R – Relevant
T – Time-based
AI-based feedback analysis thus ensures all above attributes in the process that goes into analyzing the collected feedback.
How Feedback Analysis becomes important for Businesses
Enhanced with machine learning technology, feedback analysis tools help businesses make the most of what the feedback has to offer. It helps figure out matchless ways to fill the gaps and improve the experience by offering:
Unified Text Analytics
Efficient Categorization of Issues and Smart Analytics
Conversational chatbots to respond to queries and enhance CX
Prioritize actions to improve CX
Spot and prevent decreasing sales
Capture customers’ emotional and cognitive responses in real time
Identify root causes for problems
Train the employees as per the customer’s needs
Show what businesses are missing
Why do you need Smart Feedback Analysis?
Smart Feedback Analysis helps you to summarize the data into insights important for making strategic decisions. Here is why you need of Smart Feedback Analysis:
Real-time insights
Real-time decision-making can be used for more effective customer engagement. By analyzing the real-time customer data, businesses can present personalized, relevant content and offers that customers are interested in.
Root cause identification
To fix a problem, you need to understand it. When it comes to customer experience, companies can use AI-produced insights to understand where there are problems, but also what’s causing them.
Faster change in processes
Using Smart Feedback Analysis companies can bring in the changes faster in the process.
Immediate issue resolution
With the help of Smart Feedback Analysis a business or a company can resolve issues in no time.
Quickly alert teams for right actions
Smart Feedback Analysis helps teams to take actions faster in case of decrease in sales or change in customer pattern.
Improved Net Promoter Score (NPS)
Improving NPS, Smart Feedback Analysis helps you deliver exemplary service.
What are important benefits of Smart Feedback Analysis?
Machine learning (ML) and Deep Learning (DL) driven workflows assist organizations in analyzing their feedback perfectly, making insights more actionable, thereby excellently assisting in making key decisions. Discussed here are some of the important benefits of Smart Feedback Analysis:
Efficient text analytics
In text analytics, various aspects are taken into consideration such as word count (words frequency), word pairing, sentiment analytics etc. The use of the technique assists you to retain an existing customer base and win their loyalty, which enhances business growth.
Digital Ad Generation
Smart Feedback Analysis tools help you in improving your digital presence, bringing in new and quality leads, and cultivating a harmonious bond with your long-term customers.
Price Prediction
You can find the best possible prices on commodities and services based on predictive intelligence and hone your product or service pricing framework.
Issue Prevention
Businesses are adopting Smart Feedback Analysis to conduct proactive customer services that enable them to predict and solve issues even before consumers are made aware. Customers are alerted when things are about to go wrong.
Contextual Search Assistance
Smart Feedback assists customers to find the most relevant products online. This is because a good number of consumers are willing to purchase from businesses that offer individualized experiences.
Conclusion
Notably, 68% of customers leave a brand, because they feel uncared for. In a competitive business arena, harnessing customer feedback is thus the best way to retain and build customer loyalty. It is important to listen to them and resolve their areas of dissatisfaction. The entry of Smart Feedback Analysis in customer service is making things happen!
Today, businesses can collect and analyze consumer feedback for gainful and fruitful insights. Understand how you can leverage Smart Feedback Analysis easily for your business. Connect with us to start embarking on a smart journey.