Voice of customer analysis: all you need to know Bubble Chart

Voice of customer analysis: all you need to know

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What is the voice of customer analysis?

Voice of customer refers to the feedback your customer gives with regards to your brand, product and its services. Whereas its capturing and analysis is 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 a 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 customers’ needs and wants.

Voice of customer analysis: all you need to know Bubble Chart

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.

Step by Step guide to Descriptive Research

Get ready to uncover the how, when, what, and where questions in a research problem

Why is the voice of customer analysis important?

  • 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 to 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 analysing your data for. 

The analysis question can look something like this:

  • To understand what the customers are liking more.
  • To understand what the customers are hating.
  • 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 target 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. This job is mostly done by the capabilities of AI. The AI basically identifies the sentiments in the feedback depending on whether it is positive feedback, negative feedback or a neutral one. Further on this analysis, you can divide your path of progress into two major categories:

  • Increase what people like.
  • Improve what people hate.
Voice of customer analysis: all you need to know Bubble Chart

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 analysing 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 through analysing the words. 

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

Voice of customer analysis: all you need to know Bubble Chart

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.

Exploratory Research Guide

Conducting exploratory research seems tricky but an effective guide can help.

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 to the social media reviews of your product, only then you will have the 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 labelled 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 was, information and conclusions are with respect to your targeted voice of customer goal. 

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. 

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