Exploring Insights, Recommending Actions
March 3, 2015
In December, the Temkin Group released an Insight Report titled, “The Future of Customer Experience Insights: Five Trends That Will Redefine the Role and Value of Customer Feedback and Insights.” The trends outlined in the report give organizations a roadmap to follow to get the most value out of their Voice of the Customer programs. Check out our deep dives into the first three trends: Empathy vs. Metrics, Continuous Insights, and Following the Customer Journey.
Trend #4: Useful Prescriptions, Not Past Descriptions
“Who do we ask for help when we don’t know which way to go?” If you have been around young children at any point in the last fifteen years, you can be excused for yelling “the Map!” as the answer to this question.
Sadly, unlike Dora the Explorer most of us don’t have a magic map that sings and tells us how to get where we need to go in three steps. Enterprises, however, have the next best thing, if they use it correctly – customer feedback.
The Temkin Group has found that only 3% of enterprises have reached full maturity in their Customer Experience Management initiatives (defined as taking the Voice of the Customer into account in 100% of their business decisions). Instead, if they are listening to customers at all, they are simply using that feedback to spot problems to fix or to track current trends.
Taking CX programs to the next level means using VoC to look ahead. It should be incorporated while planning product roadmaps, creating marketing plans, and making strategic investments.
To push your organization to a fuller use of feedback, your customer insight group must understand your business, know what kind of insights will make an impact, and then formulate suggestions that will move the business forward. How? The recent Temkin Group Insight Report gives these suggestions:
Search for root causes. Analyzing unstructured data from a wide variety of sources gives you a chance to find out why customers are doing what they are doing (not just what they have done). Knowing the why gives you clues about what makes customers happy and makes predicting their next steps easier.
Work backwards from decisions. Understand how business decisions are made, and formulate specific decision criteria that your analysis can support. If, for example, you are striving for a 50% approval rating for a new product, figure out which types of feedback analysis will get you an accurate view of customer approval.
Predict future behaviors. Just because you are trying to be prescriptive doesn’t mean you ignore the past – instead, you should apply predictive analytics to extrapolate patterns and predict potential purchases, customer lifetime value, and churn.
Innovate around latent needs. Use in-depth analysis to identify needs that customers haven’t specifically articulated. By discovering what they like, dislike, and value, you establish empathy with your customers and can offer them new products and services that will appeal to them.
By digging deeper into data and making useful, prescriptive recommendations, your customer insights team will exert a great deal of influence on how your organization performs and how it is perceived by customers. As customer satisfaction, loyalty, and happiness improves, your team will be able to honestly say with Dora, “We did it! Yay! ¡Lo hicimos!” (and you won’t even need a talking backpack).
Lisa Sigler is Sr. Manager of Content Marketing at Clarabridge. For over 16 years, Lisa has used her writing and editorial skills to bring the value and benefits of technology to life. In her current role, she works to demonstrate Clarabridge’s position as thought leader and trailblazer in the Customer Experience Management market. Lisa holds a B.A. of English from Kent State University. Read more from Lisa on Twitter @siglerLis.