Voice of customer analysis: all you need to know

What is the voice of customer analysis?

Voice of customer refers to the feedback your customer gives with regard to your brand, product, and services. Whereas its capturing and analysis are known as the voice of customer analysis.

As we know, brands are used to getting feedback from customers through various channels and methods like surveys, interviews, social media, etc. The real struggle starts when you have to make sense out of it. This is called analysis of the voice of customers, and it is a market research technique that gives brands an understanding of their customer’s needs and wants.

Voice of customer analysis will capture customers’ expectations, opinions, and preferences. Brands will work on these factors, analyze them and find insights to work upon which will give them a competitive advantage in the market.

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Why is it important to analyze the voice of customers?

• Voice of customer analysis will boost your marketing efficiency.
• It allows you to consider every customer’s feedback and analyze it for improvements.
• Voice of customer analysis gives you an idea about what causes the customers to stay or leave your brand.
• It helps you by understanding customers’ purchase decisions and choices.
• Voice of customer analysis will draw a picture for you about who are the most profitable customers and how you can gain new target customers to buy your products.

How to perform the voice of customer analysis?

You, as a brand, will have an abundance of data to deal with after gathering customer feedback. How your analysis turns out highly depends on the voice of customer tools you use to make insights out of the gathered data.

We will see in this section how to perform the voice of customer analysis on your voice of the customer:

Start with a question

This is the very first step. You might have a goal or a purpose before starting your Voice of Customer program. So even before you start your analysis, be firm and clear about your question. WHY are you analyzing your data for?

The analysis question can look something like this:

• To understand what the customers like more.
• To understand what the customers hate.
• To understand the new trends in the market.
• To get areas where the products and services can be improved.

Apart from this, you need to be sure about HOW you will gather your data, WHICH analysis tools you will use, and WHAT TYPES of analysis you will perform.

Gather your data

The second and pretty obvious step is to gather your data. It starts by selecting your sample customer or targets customer to feature as your voice of customers.

Make use of methods like surveys, interviews, focus groups, social media, etc., to have your data through customer feedback. Make sure to frame your surveys and questionnaires which are totally focused on your goal or survey topic and question. And then comes the voice of customer analysis.

Sentiment analysis

Here comes the analysis of data. The capabilities of AI mostly do this job. The AI basically identifies the sentiments in the feedback depending on whether it is positive feedback, negative feedback, or neutral. Further on this analysis, you can divide your path of progress into two major categories:

• Increase what people like.
• Improve what people hate.

Well, it does sound easy to label feedback as positive, negative, and neutral. But this is when you are doing it manually, which is, of course, not possible. Remember you are using an AI tool to measure these factors. So the system has been able to understand sarcasm, indirect criticisms, and twisted comments.

But once you start to analyze the data according to your use case, the system will get used to the analysis plan and work better towards the goal.

Natural language processing

Natural language processing, or NLP, is an essential way of processing your natural language. Voice of customer analysis needs the analyzing system to read through all the data and be able to make sense of the information. It will draw out the trends, preferences, topics, and issues by analyzing the words.

Plotting of words with their hidden trends and issues looks something like this:

This method gives you one label to represent a huge amount of data. Automated segmentation is the best way to cut your time-consuming analysis process.

Data correlation

Raw data makes no sense. You will have a lot of random data from customers, meaning god knows what. In every data analysis process, the raw data is useful only when the information is drawn from them. The same goes for the voice of customer analysis.

Let’s say you have your brand’s NPS score on the social media reviews of your product, only then will you have an idea of what conversations are influencing your NPS.

In case you are concerned about negative reviews, you can analyze the product reviews under shopping websites and social media to address those issues.

Draw conclusions

After you have labeled and segregated your data, it is time to make information out of it that will actually help you get to certain conclusions and insights to work on.

In this phase, you will have a clear understanding of how relevant your data, information, and conclusions are with respect to your targeted voice of customer goals.

Initiate improvements

Apparently, just getting to conclusions isn’t enough, right? The way you act upon the analysis and make improvements in your branding weighs a lot on the customers’ perception of you. Customers know they have given their feedback, and now they will wait for the corresponding changes in the brand.

As a brand, it is your responsibility to prove to your customers that you consider their opinions valuable and are willing to improve for them. This is the act that contributes most to the voice of customer analysis. For instance, if customers voiced their concern about finding it difficult to reach your support team via phone, consider adding a dedicated customer support business phone number to your website and social media profiles.

FAQs

What is the voice of customer analysis?

Voice Of Customer analysis refers to the process of extracting actionable insights into customers’ perspectives toward a brand, product, or service. It helps organizations to make decisions that are aligned with their customer’s expectations and ultimately helps improve customer satisfaction.

How to analyze the voice of customers?

Analyzing the voice of customers is an ongoing process and involves understanding and interpreting customer feedback, opinions, and preferences to gain insights into their needs and expectations.

Here are the key steps that go into analyzing the voice of customers:

1. Gather customer feedback
2. Categorize and organize feedback
3. Use sentiment analysis
4. Identify key issues and trends
5. Quantify the feedback
6. Prioritize improvement areas
7. Create customer personas
8. Share insights across the organization
9. Take action and monitor progress

What is customer analysis?

Customer analysis refers to the process of gathering and analyzing data and information about customers to gain insights into their characteristics, behaviors, preferences, and needs. It involves studying customer demographics, purchasing patterns, interactions, and other relevant data points to understand and segment the customer base.

How to do a customer analysis?

Customer analysis is done by gathering customer data (mostly with the help of online surveys), analyzing customer data, and then generating actionable insights from that data. It is a process of understanding customer characteristics, behaviors, preferences, and needs.