The Future of Customer Insight
The Future of Customer Insight
The times will be over soon, where we torture our customers. Times where we use lengthy closed-ended questionnaires. Questionaires that took market researcher weeks to develop, but still fail to uncover important unknown customer issues.
Artificial Intelligence will not only disrupt the way we conduct surveys but also how we conclude. Soon we will not look at data and spurious correlations but causal claims recommended by AI.
Why do I know this? The future is already here. Let me give a few examples:
We will stop wasting customer feedback
A software brand took a closer look at its CX survey. It has a customer satisfaction rating and an open question on “why”. AI now helps to quantify the 50k+ verbatims and a second AI sizes the impact of any raised topics onto satisfaction.
If you look at the pure frequency on topics raised by customers, you are primed to believe that the product quality is the crucial thing to maintain and to improve. AI reveals, however, that product quality had been a reason to buy. The reason to stay satisfied is something very different: a bug-free product experience – some much less often mentioned topic.
Even more eye-opening is something else the AI revealed. “Preventing unnecessary software updates” is the primary driver to a bug-free perception. Anyone in IT knows “Never change a running system”. It turns out that customers know that too 😉
There is so much to learn just from open-ends and a quantified outcome measure. This is also what a sizeable real estate manager found by looking at a similar rudimental data source.
We will turn cluttered facts into eye-opening insights
The first outcome was something not very new: Its location primarily drives satisfaction about living in a real estate. You can’t do much about this, right? Wrong! The company learned that surrounding factors such as a fabulous garden broadly defines the “location” perception.
This rudimental data source is all around us. You find it everywhere on the internet: a rating and an explanation field. A prominent seminar provider selling mainly over the world’s largest seminar platform Udemy wanted to utilize the “gold” customer already had provided for free.
We will convert website ratings and text into gold
Although most seminar customers mention mostly the great content as the source of satisfaction, it turns out to be just a baseline factor. An inspiring personality of the trainer is not that often mentioned (as not every trainer has it). Still, if said, it’s a winning factor.
The analysis shows more. Top seminars are mostly basic introductory courses, with a necessary prerequisite: It must not oversell. When customers expect more than they get, it will ruin the rating.
Some may say: ok, I think I would know that already. Consider that this is the essence of the core winning factors out of 65 possible other factors. Each of those 65 factors would make a good story too. The analysis gives clarity – actionable and straightforward recommendations
The future of insights leverages “unstructured.”
More and more customer feedback will be unstructured – from open-ends, speech, or video because customers love to use the most intuitive way of giving feedback. AI now makes it possible. Already today, we can understand what customers are saying in an automated, scalable manner.
Still, understanding what customers SAY is not the same as understanding what they MEAN.
Like an Artificial Psychologist will Causal-AI in the future, unveil previously hidden business success drivers. The good news is: The future is already here. Global brands like Allianz, Microsoft, or Sonos are already harvesting what today’s tech has to offer.
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