A common saying states that perception is reality. Regardless of its validity, perception is widely accepted, and it can have significant consequences on either an individual or an organization’s reputation and credibility.
Organizations face this challenge every day: how to deliver the best possible product while also winning trust through superb service. Customer sentiment analysis helps provide valuable insight into the mind of the customer and it empowers agents with data that allows them to go above and beyond, while also providing customers with an experience that promotes not only satisfaction, but also encourages loyalty.
Even a superior product can fall victim to upset customers — according to an Accenture Strategy Research Report, 47% of consumers admit they won’t even engage with a brand after being disappointed. Today’s complex, omnichannel environment makes these stakes even higher, which is why accurate customer sentiment analysis is vital in today’s fast-paced world.
What is Customer Sentiment Analysis?
KM World defines customer sentiment analysis as the processing of information to determine the opinion of a consumer. The time consumers take to ask questions, resolve issues, and share both positive and negative experiences can be used to help an organization evolve.
It’s important to understand that the way this information is gathered has changed drastically in the last two decades. What was once handled by either a letter or phone call to a company has now evolved into a multi-layered approach that can feel dizzying for an organization seeking to keep pace.
To deliver the most empathetic customer service experience, an organization must understand customer sentiment across all channels. Let’s take a closer look at sentiment scoring, what’s considered a positive sentiment, and three solid reasons customer sentiment analysis is a must for your organization.
What is a Sentiment Score?
According to CallMiner, a sentiment score is the number used to gauge customers’ opinions of a company’s service and products. A positive sentiment score indicates exactly what it describes — customers are satisfied with their experience with the company’s offerings and will likely continue to go about business as usual — and as such, a negative score explains the opposite. Both types of sentiment scoring are important, as they can help a company understand where they need to improve and where they can continue following business protocol.
3 Reasons You Need Customer Sentiment Analysis
Sentiment analysis gives you an increasingly accurate temperature check on how your customers feel about your brand, your products and the service you provide. For agents to turn this data into insights, however, they must be able to easily access this type of customer information.
Here are three reasons why customer sentiment analysis is ideal for driving customer loyalty:
1. Customer Service Agents Become Advocates
Every time a customer reaches an agent, that agent should, at a minimum, be empowered with all the information needed to provide a seamless experience. From purchase information, shipping information, and return requests, to an accumulation of all internal communications that have occurred, agents should have all the customer details available to them in order to provide the best possible service. But this isn’t always possible without the right technology.
When armed with sentiment analysis, the agent is properly prepared to connect and empathize with the customer on the aspects of either the service or the product that felt frustrating. This type of communication serves to both personalize the experience while also helping to neutralize potentially difficult conversations.
To provide the modern experience customers expect, organizations can’t afford for their agents to have any information gaps. According to Calabrio, 60% of customer service agents feel that they don’t have the tools or technology needed to handle customer issues, and 34% cite a lack of pertinent customer data as their biggest problem. With the right resources in place, companies can properly identify negative and positive sentiment scores and translate the insights into providing an improved customer experience across the board.
2. It Has a Major Influence on the Future of Your Business
When it comes to both acquiring and retaining customers, brands must pursue the new rules of engagement. According to Social Media Today, 70% of consumers have admitted that they turned to the social media accounts of brands for customer service reasons on one occasion or more. Utilizing social media channels is one of the most advantageous moves a brand can make today.
Customer interactions, whether indicating negative or positive sentiment, can be used to benefit the company. This data can be used to get ahead of issues, inform internal product teams of concerns or problems and influence both new customers and loyal ones. Data can reveal how an individual consumer is feeling, and it can also reveal areas in your product or policies that need improvement.
3. Customer Experience Gaps Vanish (With Holistic Measurement)
Unfortunately, many organizations look at sentiment based on the channel: e-mail, phone, chatbot/live chat, social and others, and that means all the data collected is siloed. The result of siloed data needing to be measured and analyzed together is an analyst somewhere banging their heads against a wall trying to fit a square peg through a round hole.
In other words, siloed data can be analyzed together, but it will usually be inconsistent and incomplete, with gaps that don’t cover the holistic customer experience. When attempting to make sense of the entire customer journey from initial awareness through to repeat purchases, organizations must consider a holistic way of collecting the data to be analyzed more accurately. A customer service CRM platform, that unifies all data into a single view, can help businesses garner insights from cross-channel data.
How Kustomer can help
Understanding how your customers feel can be a useful tool for your business. The organization that achieves a comprehensive, holistic and actionable view of their customer, and leverages customer sentiment analysis to understand how consumers are feeling, can create empathetic experiences that boost loyalty, retention and repeat sales.
Kustomer’s Sentiment Engine specifically achieves this. It’s driven by AWS Amazon Comprehend, and through natural language processing APIs, the Kustomer platform can analyze all incoming text from the customer, no matter the channel. You’ll always know how they feel, and be prepared to deliver exceptional service in customers’ greatest times of need.
If you’re ready to transform your organization’s customer service into one that drives loyalty in the modern age, click here for three ways to get started.