By Emily Collins, WRAP partner and CEO of EVC Marketing
Wouldn’t it be fun to know what your customers think of your product or service? A survey with structured, well-written questions and simple, clear answers provides you with actionable and understandable data. It’s what the team at CustomerCount® has been doing for 15 years. Our clients are able to measure the responses they receive to manage improve their products and services based on the results.
But what if you want to get even closer? What if you really want to understand the sentiment your customer? Then you need to let them speak freely, unconstrained by fixed questions and answers. You need to give them free form text options and find an analytics package that can unravel the meaning.
In 2019, CustomerCount announced its latest collaboration with Keatext, a text analytics system. Working within the CustomerCount reporting system, Keatext allows our clients to ask those free open-text, unstructured questions and then isolates and identifies patterns and themes.
It manages to take disorganized, random data and report back on it in a high organized, systematic way. Thereby giving our clients a way to understand their feedback at a deeper level than ever before.
Keatext is an AI-powered customer feedback analysis platform that pulls feedback from multiple communication channels. It then analyses the data and categorizes the feedback into Praise, Problems, Suggestions and Questions.
From within CustomerCount’s own reporting system, it then produces actionable insights to help clients base their decisions on facts, not guesses.
Keatext text analytics allows you to:
- Pick up emerging trends;
- Quickly detect opportunities and risks;
- Monitor the results of your actions;
- Analyze opinion and sentiment based on comments rather than fixed answers; and
- Find hidden connections between comments and metadata
Based on three years of research and developing their deep-learning algorithms, Keatext has processed over 18 million comments.
So, how can you use text analytics in your marketing?
For those who understand the power of the Net Promoter Score (NPS), you’ll know that this seemingly simple metric is more than a marketing tool. It is a critical element in the customer experience journey. It reflects the growth potential of your organization, shows you who is bringing in revenue, captures any problem areas in the pipeline, and provides possible solutions.
While based on one question, with a scale of 1 thru to 10, the follow-up question examines why they have answered this way. This provides much more specific data essential to your marketing strategy.
This is where Keatext steps in. It takes qualitative data gathered through NPS surveys and measures why people think and feel the way they do. As such, it turns the NPS metric into data you can reliably act on.
Finding the fake reviews
For those of us in the hospitality industry, fake reviews on sites like TripAdvisor, Yelp and Facebook can have a dramatic effect on business.
After analyzing almost 250k reviews from the 10 top-ranked hotels in 10 popular tourist destinations, British review and advocacy organization, Which? found that one in seven showed “blatant hallmarks” of fake reviews. If you consider that online reviews are believed to influence up to $28B USD in annual UK booking transactions alone, that one in seven takes on a whole new meaning.
However, all is not as it would seem according to Keatext.
“Research has shown that people who are posting fake reviews haven’t actually bought the product,” says Keatext CTO, Charles-Olivier Simard. “So their way of describing the product is different, a bit more elusive, a bit more generic.”
Sadly, humans are not able to accurately spot fake reviews. But this is where text analytics comes in. Through powerful AI and continuous training, text analytics algorithms are capable of deciphering and tagging patterns that might not be embedded in the meta-data used by traditional algorithms. In other words, it can identify comments from fake reviews farms by:
- Centralizing and de-siloing data;
- Picking up suspicious duplication across multiple platforms; and
- Identifying linguistic patterns
It’s time to add text analytics to your marketing plan
With a few simple steps clients can centralize, contextualize and analyze unstructured data from multiple channels including social media postings, public reviews and of course – surveys. Better yet, it uses that same data to feed its algorithms and keep learning; which means it gets consistently better and more intelligent with time.
CustomerCount clients who have opted for Keatext’s additional text analytics capabilities are already seeing results.
“Those who have it, love it! It offers an additional and significant piece of accountability to our already very robust reporting system,” says Bob Kobek, CustomerCount president.
“It’s all well and good to have an NPS of 9 or 4, but that information isn’t particularly useful if you don’t know why. With an added layer of text analytics providing context for those scores, they’re able to turn a simple rating into actionable insight that directly impacts their bottom line.”
Keatext is an extension of CustomerCount’s reporting capabilities, which help customers make better business decisions that improve their performance.
To find out more about the power of text analytics and CustomerCount, contact Bob Kobek on 317-816-6000 or firstname.lastname@example.org and request a demo.