Using AI to understand customer feelings, we create focused strategies to raise sales and lower churn
The coronavirus pandemic has shaken the foundation of what we believed possible. For a while, the whole world came to a standstill. Every industry has been significantly impacted by it. Now, as people are trying to build a new routine for themselves, one thing is for certain- there is no going back. Consumers are different now. Consumer behaviour is different. But really, what does that have to do with CX or CX data?
As it turns out, a lot. In times of chaos and uncertainty, we cling to whatever feels safe. Making important decisions based on your gut is not safe. Neither is it logical or efficient. Data and facts give us something definitive to cling to. When everything seems so uncertain, CX data can help stabilise the situation.
In fact, a HBR study shows that,
Companies who used customer analytics acquired new customers and increased revenue.
Which means, if you want your business to not just survive but succeed during this pandemic, you must prioritise customer experience. But, that’s only the first step.
CX data is only valuable if you can use it to make daily decisions. What we mean by that is, you must use your customer data to gain highly specific and actionable insights. Good market research companies can easily help with that.
Use your CX data to-
Your CX data is a great tool to listen to and understand customer sentiment. So, use it to learn who your customers are, what they want, how they like to shop, and more.
Feedback rating surveys quickly give you a picture of what’s going on with your customers. However, open text/ feedback comments are where the real story often lies. Use Text Analytics to analyse this data and understand customer problems better.
NUMR uses customer sentiment and historical data to precisely predict your bottom-line. Predicting financials will help you formulate specific strategies with the highest accuracy. Now, when everything seems so undetermined, this could be the difference between success and failure.
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