Customer Sentiment Analysis

Voice of the Customer Sentiment Analysis www.repustate.com

Voice of the Customer Sentiment Analysis There is no better way to build and grow your business than by connecting with your customer base at a deeper level to understand how you can serve them better. AI-powered customer experience intelligence tools can help you achieve this goal, and more importantly, in an efficient and cost-effective manner. This article tells you how you can get actionable insights by using voice of the customer sentiment analysis to understand how customers feel about your brand, products, or service.

What is Customer Sentiment Analysis?

The meaning of customer sentiment analysis is to understand your customers’ feelings about your brand and its various aspects, preferably with a machine learning algorithm that uses natural language processing techniques for text and semantic analysis. With the help of voice of the customer (VoC) tools, you can gather and collate impressive amounts of relevant data that can be scrutinized for emotion mining. This voice of the customer sentiment analysis approach can be a guiding beacon for brands like you as you strategize brand awareness campaigns, customer loyalty programs, explore new customer demographics, brainstorm new product ideas, do competitive research, and more.

Why Do Businesses Need Customer Sentiment Analysis?

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1. Improve sales conversions The most important thing about a business is that it has to be profitable. And what better way to make this happen than by improving efficiency and productivity- both of which can be achieved by using an artificial intelligence-based customer sentiment analysis platform. From knowing which customers are more likely to buy which products more, and which products can be apt for cross-selling, a brand can do much to increase sales conversions through sentiment analysis for customer insights.

2. Reputation management Customer sentiment analysis helps companies to protect and manage their reputation proactively, especially given that social media listening cannot be ignored by any business. People air their opinions online, freely and without restraint, because platforms like Google reviews, Glassdoor, Amazon Product Reviews, Clutch, and numerous sites like these offer them a chance to share their experience, and some even reward them for it. Even if your company has its own review platform, it’s incredible the kind of customer insights you can get about your different store locations, pricing policies, customer service, after-sales service, exchange issues, and other facets of your business through a sentiment analysis API.

3. Personalize recommendations Voice of the customer sentiment analysis provides rich information about things that certain sets of customers like and prefer. With the help of user account analysis, including their purchase history and customer service logs, brands can create personalized recommendations through newsletters and advertising. These tactics can be applied in both below-the-line and above-the-line marketing.

4. Enhance customer retention Customer sentiment analysis can give data-backed actionable insights to develop schemes to retain existing customers as much as acquire new ones. Knowing what customers expect from a brand in terms of service, convenience, etc, can help a company overcome issues of growing customer dissatisfaction and foster a better relationship, just like this South African bank discovered.

5. Attract new customers Brands can also get clever insights about what customers want from them in addition to their existing products and services, just like McDonald’s did. A viral TikTok video about their logo redesign lead to a whole new discussion on TikTok about onion rings that people started expecting from McDonald’s. Video content analysis showed that people had been expecting the fast-food chain to put onion rings on their menu for a long time. Whether the company changes its menu or not, it’s undeniable the kind of leverage you get when you have rich consumer insights like these at your fingertips.

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