DYK # 7: Did you know that text analytics is critical for the success of your VoC program?
In my job I speak with a lot of organizations and see many different VoC (Voice of Customer) / customer feedback programs. What strikes me as peculiar is that many organizations still see text analytics as a “nice to have”, rather than a “must have”.
VoC programs are often viewed as “measurement programs”. While measurement certainly is an important part of your VoC program, it’s only one part of it. We published an article on this a while ago. It’s not enough to simply track performance, you need to understand what drives performance if you want to improve the CX and drive business performance in turn. Measurement alone is really only useful if all you want to do is tracking. And what is the point of tracking performance if you’re not planning to change anything?
The Why behind your numbers
Text analytics acts as the “why” behind your numbers and helps you explain the experience customers have with you, and why they gave the ratings you received. Understanding the context and comments around your performance enables you to understand performance drivers, and uncover opportunities to improve.
In our “DIY # 5: Did you know that there are 3 stages to the Insights to Action framework?” we explored the different phases of converting insights to action, and the importance of taking action on the insights you generate. Without a text analytics solution in place you either miss out on uncovering those improvement opportunities, or you spend many hours of manual labor to get to them.
Before text analytics solutions became what they are today, we used to do that work manually. Download your data into excel and start reading! I know what I’m talking about, been there, done that. In fact, it was one of my first jobs after graduating. It is incredibly time consuming, which means expensive for the business. The work a text analytics solution can do in seconds takes a human hours and days. While text analytics capabilities aren’t always cheap, neither is doing the work manually, or not doing the work at all!
If you consider including data sources beyond your traditional surveys as part of your customer feedback programs, you really need to look into text analytics as the majority of that data will be unstructured. For more on data sources beyond our tradition surveys, check out our “DIK # 4: Did you know that there are more sources of customer feedback than surveys alone?”.
Whether you consider text analytics as part of your VoC platform, or as a standalone add-on, it is worth investigating the business case for it. At least, if you want your VoC program to do more than just tracking performance.
If you’d like to have a chat, you know where to find us 🤓 We can help you decide what might be best suited for you, how to start, and get the business case across the line 😉
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