While over three quarters (78 percent) of brands now measure customer satisfaction, most admit to failing to get real business insight from listening to the Voice of the Customer (VoC), according to new research.
The findings from AI chat firm Eptica show that just 24 percent of brands feel that existing measurements such as NPS, CSAT, and CES give them the deep insight they need to transform their business, and the experience they provide to customers.
The research revealed that despite brands analysing the growing number of interactions they have with their customers, they struggle to get real value from them. For example, 83 percent analyse email conversations, and 75 percent study customer reviews and comments, yet only 12 percent and 11 percent respectively see this currently providing actionable customer intelligence.
Existing VoC systems are unable to measure factors that directly impact loyalty, revenue, churn, or to share insight across the business. Sixty-two percent of survey respondents wanted to identify pain points through VoC programmes, while over half were looking to measure emotions. The same number (53 percent) needed to be able to identify detractors and explain why they acted as they did in order to protect revenues and minimise churn.
Customer insight data is still stored in silos – while 79 percent shared information with marketing, 82 percent with customer service, 74 percent with sales, and 71 percent with operations, just 38 percent shared with e-commerce and 21 percent with teams running physical shops.
“Brands know that to truly engage with their customers and build long-term relationships they need to understand their wants and needs, and be able to use this insight to drive an improved customer experience,” said Olivier Njamfa, CEO and Co-Founder of Eptica.
“However, our research shows that they are being held back by existing systems and approaches – they are struggling with a partial picture that they find difficult to turn into actionable insights that can transform their business.”