Category Archives: Voice of the Customer (VoC)

Posts about Voice of the Customer (VoC)

The amazing deeds of text analytics superheroes

In the last few years, the explosion of user-generated content in social media (networks, forums, communities, etc.) has significantly increased the need to extract information from unstructured content. Oddly enough, text analytics superheroes, wondrous as their achievements are, are just average guys who figured out what they could do with the right technology.

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Customer experience, a win-win in restaurants

 BLT sandwich, buttered or not?

 

Do you know if your customers prefer buttered toast in your BLT sandwich? Don’t worry; MeaningCloud is the kitchen helper you need to suit your dinner guest. Customer experience is the ingredient you need. Surfing the Internet you find hundreds of websites and apps to give feedback on restaurants. You could find by chance people talk about yours. Can you imagine people disparaging your BLT sandwich? For your information, I’d rather have it buttered.
blt-sandwich

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Books Are a Service

Semantic Publishing and Voice of the Customer understanding for the media&content industry

The reason for publishing being a key industry to take advantage of text analytics is also the reason why the industry finds it so hard to engage with the technology.

Books are a serviceThe reason? Text. And a lot of it. The publishing world has struggled to understand how data relates to text and understand the value of data. This is changing, too slow for many, as the industry moves from seeing themselves as a ‘product’ based company (e.g. making books, e-books or physical) to a ‘service’ based company. In other words smart publishers are starting to see their service to customers as the creator and curator of information. This content is abled to be mixed and mashed-up in dynamic ways across a number of formats. This service is not bound, saddle-stitch or otherwise, to a specific product. This 180-degree perspective change requires publishers to think more directly about customer experience in the same way more traditional service based industries like hospitality or even retail banking.

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Voice of the Customer in the insurance industry

For insurance companies, it is vital to listen and understand the feedback that their current and potential customers express through all kinds of channels and touch points. All this valuable information is known as the Voice of the Customer.  By the way, we had already dedicated a blog post to Text mining in the Insurance industry.

(This post is a based upon the presentation given by Meaning Cloud at the First Congress of Big Data in the Spanish Insurance Industry organized by ICEA. We have embedded our PPT below).  

More and more insurance companies have come to realize that, as achieving product differentiation at the industry is not easy at all, succeeding takes getting satisfied customers.

Listening, understanding and acting on what customers are telling us about their experience with our company is directly related to improving the user experience and, as a result, the profitability. In the post on Voice of the Customer and NPS, we saw in more detail this correlation between customer experience and benefits.

 

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Voice of the Customer, Voice of the Employee and NPS

More and more companies have come to understand that to grow profitably in competitive scenarios, satisfied customers are the key to success. And they know that employees have a fundamental role in achieving a better customer experience.

In this challenge to improve customer loyalty, companies must be able to listen to their customers and understand what they are saying. It is what we call the Voice of the Customer (VoC).

However, a mission — such as customer satisfaction — that lacks a precise measure of success (or failure) is just hot air. Quoting Lord Kelvin, “If you can not measure it, you can not improve it.”

The Net Promoter Score (NPS) has become, for a number of companies, the key metric for measuring customer satisfaction. By the same standard, the mission to get motivated and happy people in an organization also has its key metric: the eNPS (Employee NPS).

As discussed below, in order to improve customer and employee experience, both the NPS and the eNPS need to find the reason that justifies the score given.

When asked What is the primary reason for your score? the NPS and the eNPS collect and analyze the open answers of thousands of customers and employees. Here is where the linguistic technology of Meaning Cloud intervenes.
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An Introduction to Sentiment Analysis (Opinion Mining)

In the last decade, sentiment analysis (SA), also known as opinion mining, has attracted an increasing interest. It is a hard challenge for language technologies, and achieving good results is much more difficult than some people think. The task of automatically classifying a text written in a natural language into a positive or negative feeling, opinion or subjectivity (Pang and Lee, 2008), is sometimes so complicated that even different human annotators disagree on the classification to be assigned to a given text. Personal interpretation by an individual is different from others, and this is also affected by cultural factors and each person’s experience. And the shorter the text, and the worse written, the more difficult the task becomes, as in the case of messages on social networks like Twitter or Facebook.

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Why We Believe in the Voice of the Customer

 

What is the Voice of the Customer?

Social MediaHave you ever wondered why certain products or services undergo radical changes or even disappear from the market (and sometimes return with another trade name)? Does it depend only on the volume of sales or other factors come into play? To answer these questions, we should introduce the concept of “Voice of the Customer” and analyze what it means. This term refers to all those practices which enable to understand what a (real or potential) customer thinks about a product or service. But it is not limited to a simple reading of comments or opinions written upon request -e.g. an online survey-, the issue is much more complex.

In recent years, the types of channels through which customers and users express their opinions, complaints, suggestions or congratulations (yes, these are also important, then we will see why) have multiplied exponentially. Only a decade ago, the channels that permitted the interaction with the business world were significantly fewer, among them we may recall the telephone or pre-compiled polls often sent by traditional mail. In addition, most of the exchanges between customer and company responded to a specific need of the second; in other words, they were requested.

 

How has it changed?

Today, the picture has radically changed.Voice of the Customer The communication channels are numerous and also allow to interact in different ways through various media (images, audio, video, etc.). And what matters most to us is that this interaction

  • is constant: 24 hours a day, 365 days a year;
  • most of the times is multilingual;
  • does not always follow predefined patterns (many times, it doesn’t even comply with the most basic spelling rules);
  • is unstructured: it is not stored in a traditional database nor organized according to predefined criteria.

There is no doubt that, from a corporate perspective, this enormous amount of information can be highly beneficial!
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Could Antidepressants Be the Cause of Birth Defects?

We agree that it is not typical at all for an Information Technology company to talk about antidepressants and pregnancy in its own blog. But here at MeaningCloud we have realized that health issues have a great impact on social networks, and the companies from that industry, including pharmas, should try to understand the conversation which arises around them. How? Through text analysis technology, as discussed below.

Looking at the data collected by our prototype for monitoring health issues in social media, we were surprised by the sudden increase in mentions of the term ‘pregnancy’ on July 10. In order to understand the reason of this fact, we analyzed the tweets related to pregnancy and childbearing. It turned out that the same day a piece of news on a study issued by the British Medical Journal about the harmful effects that antidepressants can have on the fetus had been published.
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Improve your Customer Experience Management with Text Analytics (recorded webinar)

Last June 10th we presented our webinar “Discover the WHY behind your Customer Scores – Improve your Customer Experience Management with Text Analytics”, featuring industry expert Seth Grimes.

The goal of the webinar was to ensure you are getting the most from your Customer Experience / Voice of the Customer initiatives, using text analytics to understand massive amounts of unsolicited, unstructured customer feedback in real time.

User Profiling and Segmentation

The agenda, with contributions from Seth and members of the MeaningCloud team, was:

  • Text analytics in Customer Experience (CX) management. Why is it important?
  • How text analytics complements/amplifies “traditional” CX? What specific benefits does it bring: understanding the reason behind the scores, extending to new, untapped feedback sources, analyzing CX in big data contexts … What new applications does it enable?
  • What text analytics techniques are applicable: text classification, information extraction, sentiment analysis, user profiling…
  • Analysis of some real scenarios/projects: survey analysis, contact center interaction, market research, social media analysis.
  • How to implement this easily with MeaningCloud: APIs, personalization tools, add-in for Excel.

For those of you interested, below you can find the webinar’s slides and recording.

And, if you want to give MeaningCloud a try and see how it can take your customer feedback analysis to the next level, register and use it for free here.

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