Text Analytics involves several hundred reporting topics in a typical client project. So how do you know where to focus effort to make the biggest and quickest improvements to customer experience?
We know that it is not simply the topics that have greatest volumes that are the ones that need to be tackled first. Often these high volume topics can be simply ‘hygiene factors’ – worth knowing about, but not big influencers of customer satisfaction.With Impact Analysis, we uncover what’s really driving your customer loyalty, scores and sentiment, and help you move from insight to prioritisation.
Crucially, this allows you to understand what leads customers to either defect from your brand or to saying they would not recommend you in the future. Seeing this information in real time allows you to focus on these key drivers to head off negative experiences and carry out root cause analysis to eliminate these issues.
Another key feature of Feedback Ferret’s Impact Analysis modelling is the defection risk score, indicating the likelihood the customer will defect at their next purchase. Ring-fencing these high risk customers allows you to take pre-emptive action to retain their business immediately, from changing products and services, targeting with marketing promotions to working on staff behaviours.
Another tool available is Feedback Ferret’s predictive scoring of customer actions, such as making standard complaints to the more serious threats of legal action. The ability to see the topics that are causing these damaging outcomes, combined with a customer risk score is truly powerful.
An automotive client was surprised to find that ‘Oil Change’ was among the most significant topics mentioned by customers in terms of brand defection from the Impact Analysis results. By drilling down into this topic, eight key factors leading to dissatisfaction with the oil change process were identified, leading to changes in dealer processes and marketing actions.
In summary, Impact Analysis modelling is an automated process applied to every Ferret client database, with the results available throughout the Feedback Ferret hosted platform. This helps you focus your efforts where it will make the biggest difference to your customer and reduce your operational costs.