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How to Maximize Customer Revenue in eCommerce

[fa icon="calendar'] Feb 23, 2017 9:55:02 AM / by Matti Airas posted in Customer Journey, eCommerce

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When many web stores sell the same or comparable products within the same geographical area the only thing that sets you apart from competition is the shopping experience. The shopping experience becomes even more important when you don’t sell your own products. And when it comes to an excellent eCommerce experience, there is a benchmark: Amazon has set the bar. Do you know how you compare to the one-click wonder?

 

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VERBATIM ANALYTICS Tip #22. Identify customers who have written many verbatims

[fa icon="calendar'] Dec 22, 2016 9:57:21 AM / by Matti Airas posted in Customer Journey, text analysis, NPS, customer experience, verbatim analytics

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Identifying customers (or employees) who write many open-ended comments is important. There are multiple reasons for this:

  1. This type of customers can distort the analysis results (the one who yells the loudest is heard the best); and
  2. They are often the people whose voice spills over to the social media. If you don’t address their concerns, they will move the discussion to channels that you don't control. 
This graph lists the people who tweet about the UK banks the most.

It is important to identify the customers who ‘talk’ about your company the most. They can be your most loyal customers, but more often not. They are people, who like to spread their unhappiness to a wide base of friends and acquaintances. Social media makes this sharing easy. You need to identify them, communicate with them, and remedy their concern fast and as well as you can.

 

We are writing a series of blog posts on the topic “25 tips for extracting actionable insight from open-ended comments". If you prefer watching a video, click the link below.

 

WEBINAR VIDEO

 

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VERBATIM ANALYTICS Tip #21. Use positive sentiment to identify best practices

[fa icon="calendar'] Dec 22, 2016 9:55:41 AM / by Matti Airas posted in Customer Journey, text analysis, NPS, customer experience, verbatim analytics

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Being able to use the positive sentiment or NPS score to drill down to the customer comments is a powerful way to identify best practices. The analysis results become even more relevant and valuable when you filter by topic level sentiment or NPS score.

More about NPS score and sentiment correlation in tip #24.

Being able to drill down to the positive customer (or employee) comments contextually gives you a powerful way to identify best practices that you can then share with rest of the organization. 

 

 

We are writing a series of blog posts on the topic “25 tips for extracting actionable insight from open-ended comments". If you prefer watching a video, click the link below.

 

WEBINAR VIDEO

 

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VERBATIM ANALYTICS Tip #20. Use negative sentiment to detect problems

[fa icon="calendar'] Dec 22, 2016 9:41:36 AM / by Matti Airas posted in Customer Journey, text analysis, NPS, customer experience, verbatim analytics

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 The headline tells it all. Being able to use the negative sentiment or NPS score to drill down to the customer comments is a powerful way to find actionable information. Your analysis results become even more relevant and valuable when you filter by topic specific sentiment or NPS score. 

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VERBATIM ANALYTICS Tip #19. How to use the average sentiment to prioritize improvement efforts

[fa icon="calendar'] Dec 21, 2016 3:49:52 PM / by Matti Airas posted in Customer Journey, text analysis, NPS, customer experience, verbatim analytics

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Whatever categorization service you decide to use, it should include a topic level sentiment analysis. This means that each topic mention gets scored with negative, neutral or positive sentiment.

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VERBATIM ANALYTICS Tip #18. Use two heatmaps to benchmark support or sales agent performance

[fa icon="calendar'] Dec 21, 2016 3:47:45 PM / by Matti Airas posted in Customer Journey, text analysis, NPS, customer experience, verbatim analytics

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 We’ve met with dozens of contact center managers during the past six years. They all complain about the same issue: It is difficult to detect systemic issues and benchmark qualitative agent performance. This happens because of the ineffectiveness of their manual categorization process and the focus on support or sales transaction statistics (first contact resolution, number of processed web forms, sale completion rate etc.) rather than the qualitative agent performance.
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VERBATIM ANALYTICS Tip #17. Use topic, sentiment and background variable to drill-down to the root cause

[fa icon="calendar'] Dec 21, 2016 3:41:34 PM / by Matti Airas posted in Customer Journey, text analysis, NPS, customer experience, verbatim analytics

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You see the signal in your dashboard but have no idea what is causing it. Knowing that something is wrong is useless unless you know why or what is causing that problem. That’s why feedback analytics is divided into two distinct phases:
  1. Detecting that something is wrong (or right); and
  2. Finding the reason for that problem (or opportunity).
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VERBATIM ANALYTICS Tip #16 Use a topic sentiment heatmap for extracting insigths

[fa icon="calendar'] Dec 21, 2016 3:37:04 PM / by Matti Airas posted in Customer Journey, text analysis, NPS, customer experience, verbatim analytics

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I have tested many different visualizations and graphs for detecting patterns from open-ended comments during the past six years. What I have learned is that a simple topic-sentiment heatmap works well. 
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VERBATIM ANALYTICS Tip #15 Use stacked charts to hide unintended volume volatility

[fa icon="calendar'] Dec 15, 2016 11:29:43 AM / by Matti Airas posted in Customer Journey, text analysis, NPS, customer experience, verbatim analytics

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 Topic is a volatile measure. Some of the volatility is real (people are mentioning the topic more or less often in their comments) and some of it is unintended (the overall feedback volume varies due to feedback process or seasonal reasons). You need to figure out how to minimize the effect of unintended volatility in your feedback process.
Here is an example of the survey volume volatility. It is difficult to tell the volume of different topics from this chart and the reason for the volume volatility could be that during that month you just sent out fewer surveys.

The graphic above is using absolute volumes. The jump in volume in this example is caused solely by the survey process. The reason is that in certain weeks more surveys are sent out. You can see that customers are talking more about CHECKOUTS but it is difficult to see the relative importance of this. 

Stacked charts hide the survey process and seasonal effects. Once you use stacked charts, it is a lot easier to see how different topics are performing.

This stacked chart demonstrates the relative share of topic mentions each week.

It is impossible to receive the same number of feedbacks every day, week or month. What is important is to figure out the relative share of the topics customers or employees are talking about. Stacked charts makes this easy to do.

 


We are writing a series of blog posts on the topic “25 tips for extracting actionable insight from open-ended comments". If you prefer watching a video, click the link below.

 

WEBINAR VIDEO

 

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VERBATIM ANALYTICS Tip #14 Monitor hot topic level volume and sentiment

[fa icon="calendar'] Dec 15, 2016 11:28:50 AM / by Matti Airas posted in Customer Journey, text analysis, NPS, customer experience, verbatim analytics

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 Hot topics (Tip #12) are the most important customer experience attributes (or at least the most talked about attributes). They need to be tracked in more detail than other topics. In practice this means that you need to develop a dedicated topic-sentiment monitoring visualization to track the hot topics.

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