Understanding your Customers
82% of customers said they would switch products or service providers after a bad experience with the company’s customer service department.
To avoid this scary-looking number from coming true, it’s important to actively listen to customers and analyze their feedback so you can correct big issues that are causing customer churn. We hear a lot about the importance of listening to the “voice of the customer.” This basically means collecting customer feedback, using speech analytics, and even listening on-demand to actual customer conversations—and more importantly, using all of these sources of feedback to improve responsiveness and outcomes. Now this concept is evolving to include all of the various interactions that customers have with your organization, including written communications through chat, text/SMS, and emails that are becoming increasingly popular. While the contact center is the natural hub for all of this activity, the most successful organizations share this data broadly and strategically across other departments, including sales, marketing, and operations.
Benefits of Creating a Listening Culture:
1. Listening gets you feedback and data
2. Listening gets you stories to share
3. Listening grows customer retention
4. Listening increases customer spending
5. listening creates brand ambassadors (promoters)
6. Listening grows employee retention
Best Practice – How Different Industries Listen to Consumers
Thousands of people across the globe are employed by Amazon to listen to Echo recordings, transcribe and annotate them and feed them back to the software so that Alexa can better grasp human speech. By default, Echo devices are designed to detect only your chosen wake word (Alexa, Amazon, Computer or Echo). The device detects the wake word by identifying acoustic patterns that match the wake word. No audio is stored or sent to the cloud unless the device detects the wake word (or Alexa is activated by pressing a button).
Amazon Web Services (AWS), detailed how marketers can tap into the cloud-based computing division’s machine learning tools for social listening and sentiment analysis.
Consumers are becoming more aware of shows such as ‘Our Planet’ and ‘Seaspiracy’ which is encouraging a shift in consumer behaviour towards plastic waste. ASOS used social listening tools to understand that their customers were becoming increasingly passionate about plastic waste.
As a result, ASOS listened to their audience and observed this wider trend to later introduce running shoes made from ocean waste. The shoes combine two aspects of consumer wants needs: well made shoes and the desire to do good for the planet.
Steve Easterbrook took over as CEO of McDonald’s in 2015, spearheading a culture of listening-to and acting on the feedback of customers. Before this time, the fast food chain was suffering from fierce competition from brands such as Chipotle and Taco bell, as well as the evolving tastes of customers. By looking at different ways of capturing customer feedback, including social media and online surveys, McDonald’s began to identify what customers wanted from the restaurant. For example, it discovered a desire for healthier menu options, as well as longer opening hours.
COO Elizabeth Fairley was interviewed by publisher Drug Discovery World on whether the pharmaceutical industry is ready to listen directly to patients?
Elizabeth commented that “There has been a growing realisation that pharmaceutical companies must change if they are going to enable and harness technology even more successfully. There has been a recognition that digital expertise must be brought in and that there must be digital working alongside robust science. In the scientific world it’s all about measurement and it’s the same in the digital world. Bringing the two together is what really accelerates it. It’s curious but the voice of the people taking the drugs – the actual patients – hasn’t been as loud as it should have been. That’s despite extensive evidence that listening to patients and learning about their experiences can dramatically improve drug development, delivery, and accessibility, as well as patient support.
In the work we’re doing, we can now gather patient voices from a number of different sources and cleanse and structure the information in a meaningful way. Conversational data can be derived from social media sites and forums where people discuss their experiences with diseases and medicines. This can be blended with information with data gathered directly from people using our connected devices as well as through patient surveys. It is important that patients are listened to, especially as they are being brought in to more of the decision process across diagnosis and the management of their conditions and treatment. It is vital that the patient is kept safe to drive the better health outcomes.
To find out more about PatientMetRx and how we utilize AI to listen to the Voice of the Patient, book a demo below with the team:
- Amazon links AWS tools to social listening – Marketing Dive
- Five Times Customers Asked For Change and Brands Actually Delivered it – BrandWatch
- Six Ways Listening Improves The Customer Experience – Forbes
PatientMetRx® is an AI accelerated machine learning platform that has turned the liberation of patient sentiment on its head through data science to create a single source of truth about feelings, attitudes, and behaviors. People describe their healthcare experiences through stories on social media, interviews, and research. PatientMetRx® uses advanced data science and technology including its own specialized LLM’s (Drug-GPT™) to structure signals at scale to make the complex simple. Tracking actionable insights and mapping across the patient journey comparing HCP and Patient Voices. Keep your finger on the pulse by putting the Patient Voice at the center of strategies. If you’re wanting to stay ahead of the curve in this rapidly changing industry then try it out today.