What Kind of Data Can an Institution Gather from Sentiment Analysis to Improve Customer Experience? 

Imagine being able to tell exactly what’s going on in your customers’ minds in terms of how they perceive your brand or product. Fortunately, it is possible with sentiment analysis. Successful brands understand the importance of customer experience.  

A single bad review can catch fire instantly and ruin your business reputation. This risk can be rectified by catching your customer’s sentiments early. Insights from sentiment analysis could eventually turn an unhappy customer into a satisfied and loyal one.  

Sentiment analysis enables brands to dive deep into customer feedback and emotions. It can truly be a game-changer. So, what kind of data can an institute gather from sentiment analysis to improve customer experience? Let’s explore the power of sentiment analysis and how it can be transformative for your customer support. 

Customer Feedback  

One of the sources of data you can get from sentiment analysis is customer feedback. It reflects the voice of your customers and minimizes the chances of misinterpretations. Businesses can gather customer feedback from various sources including: 

Customer Surveys (CSAT, NPS, CES) 

Customer surveys help caption customer opinions in a structured way. Customer sentiment analysis identifies the emotional undertones in customer responses for a deeper insight. The Hilton Hotel, for example, uses sentiment analysis in their post-stay surveys to highlight areas of dissatisfaction and improve their customer service. This survey data helps them in bettering their services and tackling problems before they spiral.  

Customer Reviews  

Online review platforms like Yelp and Google provides some great feedback. By using customer sentiment analysis, businesses can categorize reviews as neutral, positive, or negative, and uncover common themes in customer sentiment. According to a stat by BrightLocal, 8s8% of customers consider online reviews as influential, emphasizing their significance in shaping your brand strategy and reputation. Amazon uses product reviews to uncover recurring pain points, driving changes in their service strategy and product design. 

Social Media Posts  

When it comes to authentic and unfiltered customer sentiment, social media platforms serve as a goldmine. Brands can use sentiment analysis to evaluate direct feedback, brand mentions, and hashtags. Netflix employs social media customer sentiment to improve recommendations and predict viewer preferences. Sprout Social statistics suggest that 47% of customers have used social media to voice their complaints, making it essential to monitor and act on your client sentiment to maintain brand loyalty.  

Live Chat Transcripts  

Live chat interactions help capture real-time sentiment – providing insights on customer satisfaction and frustration levels. Customer sentiment analysis enables businesses to prioritize problem areas based on customer sentiment during these live conversations.  

According to a HubSpot report, 82% of customers rate an immediate answer as incredibly crucial when contacting a brand, underscoring the importance of live chat in shaping customer experiences. 

Sentiment analysis enables institutions to evaluate live interactions, identifying and prioritizing issues based on customer sentiment during the conversation. 

Email Exchanges  

Emails contain in-depth narratives about customer experiences. Sentiment analysis can be used to extract sentiments and key phrases from these email exchanges, offering a thorough understanding of customer concerns. Microsoft, for example, uses sentiment analysis on customer support emails to enhance response strategies, attaining a 15% drop in resolution time. Research suggests that customized responses extracted from customer sentiment data can boost customer satisfaction by up to 80%.  

Online Community Forums  

Online forums, like Quora, Reddit, and other brand-specific platforms, are incredibly useful for in-depth peer discussions and customer feedback. Brand sentiment analysis on these hubs enable brands to understand how customers feel about your services or products in a communal context. Sony PlayStation, for instance monitors gaming forums to evaluate player sentiment on game features and updates. Such insight has enabled them to release timely updates and patches, elevating player retention and satisfaction. 

According to a Brandwatch, 96% of customers discussing a brand online are not directly engaging with the business, making forums a critical source of unfiltered real time sentiment data.  

By mining these discussions, businesses can proactively address concerns and tap into customer needs. 

Bottom Line  

Sentiment analysis highlights the underlying emotions for customer interactions, converting raw data into actionable insights. By evaluating sources like reviews, surveys, social media insights, live chats, and more, brands can understand their consumers on a deeper level, address friction areas proactively, and provide customized experiences that elevate loyalty. As industries become more and more competitive, leveraging real time sentiment data is no longer a luxury – it’s imperative for staying relevant in the industry.