Business

Who else will benefit from Consumer Feedback Analysis in your Company

Published July 11, 2019·Written by Wonderflow

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Consumer insight teams aside, other stakeholders in your company should benefit from consumer feedback analysis. In this video, Wonderflow CEO Riccardo Osti shares why product marketers, research and quality control teams, customer service teams and business, and market intelligence teams should be working with consumer feedback analysis too.

Product marketers

With access to consumer insights, product marketers can get to know their customers like the back of their hands. To be more specific, these insights allow marketers to dive deep and identify the “make-or-break” factors that influence a customer’s purchase decision.

From here, product marketers can choose to highlight certain features that are important to their customers when running ads or marketing campaigns. At the same time, these marketers can also improve upon their pitch and fine-tune their messaging to resonate with their customers.

Research and quality control teams

Research and quality control teams are responsible for product improvements. With consumer insights, these teams are better-equipped to make strategic decisions about whether to improve a product, pull the plug on it or continue manufacturing it as it is.

Now, the general consensus is that all products are a work-in-progress and it’s always possible to improve on any given product. That said, the question here is whether a product change (that will cost a company in terms of both time and money) is worth it and how this change will impact sales, revenue, and overall customer satisfaction.

Customer service teams

Moving on, text mining and natural language processing techniques are also widely used for customer care applications. Here, companies may use text analytics software to unlock insights from surveys replies, trouble tickets, customer call notes and more. 

With these insights, the companies are then able to optimize their customer service quality, and work towards resolving problems more quickly. Text analysis is also used to build chatbots and implement automated customer responses, which helps to reduce dependency on call center operations. 

Whichever way you look at it, using text mining in the area of customer service results in a win-win. Customers get their problems resolved more quickly (if chatbots are implemented, they may even get to enjoy instant replies); businesses, on the other hand, are able to do more with less, leading to cost reductions. 

Business / market intelligence teams

Finally, text mining also comes in handy for business and market intelligence teams. These teams make use of the data and insights they extract to get a better understanding of the business landscape and identify their strengths and weaknesses. 

All in all, market intelligence teams who rely on text mining are more well-equipped to devise innovative strategies that will help them maintain a strong foothold in the market. 

If your goal is just to maximize your profits in the short run, then you might be able to do away with using text mining to provide insights to your market intelligence teams. But if you’re in this for the long haul and you want to build a legacy with your company, then it’s crucial to invest in market intelligence to make sure that you’ve got a high-level perspective of the business landscape. 

Subscribe to Riccardo’s channel here.

 

Analyzing multi-language customer feedback in large volume from different sources is a complex process. With an AI-based technology and years of experience, Wonderflow is helping global brands to become customer-centric. Find out enterprises are working with our solution.

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