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INSIGHTS ON CUSTOMER JOURNEY

Insights on Customer Journey Pave Way to Results

Posted on: July 30th, 2015 by:
Blog Categories: Text Analytics Industry Insights & Innovation

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2015 YTD Conference Takeaways

During the first half of 2015, we spent time attending conferences, speaking on the topic of driving customer insights through verbatim analysis, and listening to industry professionals in market research, marketing, and customer insight both at research firms and in corporate settings. You can see where we’ve been on our In the Field page. We thought we would take a moment to share some of our key observations.

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Ascribe CEO Rick Kieser (far right) leads panel on “Gaining Insights by Understanding the Customer Journey” on May 19th at the IQPC Market Research Exchange, featuring (left to right) Navin Sharma, Vice President Insights and Analytics, Arby’s Restaurant Group, Inc.; Ryan Lein, Director Consumer and Shopper Insights, Hanesbrands, Inc.; and Corliss Colier, Senior Director Category Development & Insights, Bumble Bee Seafoods.

Takeaway #1: Expanding Beyond Point of Purchase to Map the Customer Journey

After all the talk of Big Data in the past few years, the attention of the industry and the analysts in the field is turning to mapping the journey – the full experience before, during and after the shopping trip, both on and off line, and highly outcome oriented. It’s not just about understanding your customers, it’s about understanding them in ways that are actionable so that you can create new/better outcomes for future customer interactions and tangible business results.

Takeaway #2: Leveraging Customer Experience to Drive Business Decisions

More advanced Voice of Customer (VoC) programs are focusing on finding valuable insights to drive business improvement, using comments from massive volumes of feedback to pinpoint operational issues, new product opportunities, differences in preferences and sentiment across various customer segments, and more.

Takeaway #3: Rising to the Challenges of Data Volume, Complexity, Productivity and Action

The bar for customer experience is rising, as more and more companies adopt VoC programs. Many companies struggle with how to maximize the effectiveness of a VoC program with minimal resources (often just 1 employee), and with sample validation with unstructured data, which can be challenging without the right toolkit. We also heard many companies struggling with how to use the data and insights internally to drive change in the organization.

Overall Takeaway: Taking the Conversation to the Next Level to Deliver Big Results

With all the talk across the industry revolving around customer experience and journey mapping, text analytics – both automated technologies and coding solutions – have never been more integral to delivering actionable insights and business results. We see the conversation playing out in many sectors, particularly those that are consumer focused, and we expect the volume of the dialogue to increase, as more and more customers voice feedback in their own words, while more and more corporate teams work to make sense of it all.

We’ll be out and about during the second half of the year too – to see where we’ll be, check out our conference schedule on In the Field

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