Seeking to pinpoint how their customers rate and value their
product and service experiences, many businesses embrace some form of customer
experience survey program today. The Net Promoter Score (NPS) Index is the most
prevalent. Research demonstrates that the companies with the highest scores in
their industry segments outperform their
competitors, generating higher margins and greater customer lifetime value.
In addition to companies developing tunnel vision and becoming infatuated with high
NPS scores, many realize NPS and other survey results are inadequate when left
on their own.
Augmenting and Amplifying Customer Experience Survey Models
To begin, in too many cases, companies are “cooking the
books” when it comes to their NPS and customer experience scores. Employees
from over half of
companies that use NPS as a business measurement
indicate their
organizations are more interested in achieving a high score than in actually improving
customer experience. You don’t need to go very far for a reference point;
automobile manufacturers are notorious for attempting to elicit biased scores
by incenting customers to mark off high scores in exchange for discounted
services.
On a similar note, though it goes without saying that NPS
and other customer experience survey methodologies, when used correctly, offer
organizations valuable insights on their customers, they do not reveal the why
behind the answers they provide.
These surveys also only capture a segment of total customer feedback; existing
customers and not former customers. In addition, the percentage of customers
responding to surveys has plummeted (and continues to do so), further limiting
the breath of insights that can be collected from them. The reality is that
there is simply too much digital “noise,” and survey fatigue is a tangible
problem.
Online Review Sites
and Community Forums: Latent Intelligence Opportunity
Online review sites and community forums offer a rich
repository of objective, unfiltered customer comments and feedback. In B2B
instances, we’re talking about hundreds or even thousands of reviews and
thousands or tens of thousands of comments on community forums. B2C companies
typically have even more reviews and forum comments at their disposal.
However, the intelligence contained within these data sources
remains latent with regard to evaluating, measuring, and modifying customer
experience. Companies see the review sites as a marketing tool; a means for
eliciting customer content, generating new marketing and sales leads, and
identifying new customer advocates. They aren’t looking to review sites for
customer insights.
When it comes to online community forums, the primary reason
organizations build them is to provide customers with self-service
opportunities. Secondary use cases include delivering educational content to
customers, enabling prospects to connect with customers and evaluate their
solution based on customer comments and feedback, and engaging and mobilizing
customers for advocacy activities.
Creation of TIRO Cognition
Insights
With this in mind, we created and built TIRO Cognition
Insights. We scrape, organize, and analyze your customer information – along
with competitors’ customers – to pinpoint actionable insights that allow
organizations to improve efficiencies and capture new opportunities. Configured
as a managed service, the TIRO Communications team works with the customer to
determine which competitive products, review sites, and online communities to
include in the analysis. Potential outputs include:
- Sentiment scores at various of levels of
granularity over time for your product and your competitors’ product – in
aggregate and per online review site and community forum.
- Smart SWOT (Strengths, Weaknesses,
Opportunities, Threats) based on NLP (Natural Language Processing) for your
product as well as for each of the competitor products included in the study
- Key-phrase and entity analysis pinpoint areas of
intelligence such as the most positively and negatively rated aspects of your (and
your competitors’) product, comparison of product messaging with the what customers
are saying, and alignment of demand-gen marketing tactics and strategies with
what resonates with customers.
- Honing of content messaging, tone, and brand
voice a well as creation of demand-gen programs and communications based on
understanding of customer values, needs, and personality types.
7 Analytical Areas
Examined by TIRO Cognition Insights
TIRO Cognition Insights draws upon seven different
analytical areas to develop actionable business insights. These include:
- Customer
Experience.
For customer experience teams that are serious about improving
customer experience and tapping new business opportunities based on what their
customers and those of their competitors are saying, TIRO Cognition offers them
the ability to augment and amplify the insights gathered from survey tools such
as NPS by revealing granular detail.
- Product
Management. Pinpoint what customers like and don’t like in a product. Refine
development roadmaps based on market threats and opportunities.
- Sales
Enablement.
Exploit product strengths and competitor weaknesses with sales
plays and programs, battle cards, and market opportunities.
- Demand-Gen
Marketing.
Create competitive takeout campaigns based on competitive
weaknesses and threats while creating precision-point campaigns and content
based on what customers want.
- Product
Marketing.
Align messaging and content tone with customer insights and
differentiate product and services from competitive products and services based
on Smart SWOT analysis.
- Customer
Success and Support.
Tune support and relationship management by
identifying gaps and capitalizing on strengths, weaknesses, and opportunities.
Chief Customer Officers (CCOs) can benefit greatly from the actionable insights
generated by Cognition Insights.
- Advocacy
Marketing.
Fill capability and feature gaps on online review sites and
community sites as well as regularly monitor aggregate and individual sentiment
site sentiment for your product as well as competitive products.
Check Out the Demo of
TIRO Cognition Insights
Data analytics and business intelligence (BI) offer
companies new opportunities to pinpoint actionable business insights that can
have a direct, immediate, and long-term impact on their businesses. Check out
our Demo Video
on
TIRO Cognition Insights for more details. Or schedule time
with
us for a deeper look at TIRO Cognition Insights and how it can help you improve
your efficiencies, achieve better margins, and tap into new business
opportunities.
