How To Address Customer’s Pain Point Using Real-Time Feedback Data

MX Bites / June 7, 2023

For companies to be adept at meeting customers’ needs, they must first feel their heartbeats. Many companies wrongly address their customers’ pain points, because they wrongly measure the KPIs. The old, generic method of getting feedback by asking customers to only fill out feedback survey forms has proven ineffective. They don’t carry the weight of customers’ feelings and emotions, but mear shows if they are happy or not. Unfortunately, many companies run on survey methodologies and rating feedback alone, spending huge amounts of money and resources to address them. In the long run, they begin to lose a lot of customers without knowing exactly what they did wrong. 

It’s not about how much is spent, it’s first about exactly understanding the customers’  feelings, what matters to them, and making informed decisions. Also, customers don’t reveal their true feelings in the survey forms alone, instead, they do this on various platforms— like social media, CRM systems, emails, chatbots, etc— where they can fully express themselves in words and illustrations. But then, how exactly do you quantify, consolidate, analyze, and understand their sentiments, measure their satisfaction, and address them appropriately, in their crude forms? 

This is where Artificial Intelligence and AI tools come into play. 

The Role of AI in Improving Customer Experience

A few years ago, it seemed impossible to analyze customer sentiments, satisfaction, and net promoter score, by simply consolidating a large amount of textual feedback on different platforms. However, AI has changed the game. It’s now possible to use highly intelligent AI tools to analyze your customers’ sentiments and improve their experience with your company, products, services, and brand reputation. 

To achieve this, it’s first important to collect data from qualitative sources and analyze them into understandable metrics, using AI. For instance, our AI algorithm collects customers’ qualitative feedback and analyzes them based on specific key features that can extract and predict the level of a customer’s satisfaction or dissatisfaction. 

When this is achieved, the insights from the prediction can be used in improving the customer experience and, in turn, enhance customer retention, and reduce churn. 

Importance of Using Real-time Feedback Data in Addressing Customer Pain Points

As the word implies, real-time feedbacks are the most real and expressive thoughts of customers about your product or service. You can’t get more honest feedback from them, elsewhere. The following highlights the importance of using real-time feedback data to address customer pain points:

      • Improves Customer Satisfaction: Knowing exactly how your customers feel helps you to know how best to serve them. When you serve them in the best way they want to be served, then you can satisfy them.
      • Enhances customer Retention: When your product and service best meet the needs of your customers, then you have their hearts. It becomes difficult for them to switch to competitors because you go beyond their needs and you excel them where it matters the most, their hearts. In long-term customer retention, it’s important to continue getting their feedback, because their demands may change periodically. Getting continuous feedback, in turn, enables you to upscale your strategy.
      • Better Public Perception: Satisfy your customers and watch them blow the trumpet about your products and services. When the good news about your brand fills the ear of the public, then more customers will come to you and become your loyal fans.
      • Establish Brand Authority and Awareness: For most people, their choice of patronage is usually influenced by other customers’ ratings and reviews on a product. When customers are satisfied with your products and services, then they are more likely to leave good reviews that attract other customers. This process builds up to establish a solid brand authority for you.

The center of customer experience is customer satisfaction. It differentiates you from your competitors. If customer experience is that important, then it’s expedient to invest in it. Use real-time public feedback data along with custom surveys and feedback forms to better understand what your consumers are saying about your products and services. Taking it to another level, you could also make correlations between consumer sentiment and your transactional (financial) data. This will for sure elevate your decision-making to new heights.  

With the help of AI-driven models, you can measure and monitor your customer experience using specific key indicators, and use the insights gained to make more informed decisions.

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