New white paper: Are you ready to compete on customer experience?
According to research firm Forrester, 71% of business and technology leaders said that improving customer experience was a high or critical priority in 2015.1 Increasing focus on the customer experience, which ultimately drives retention and growth, makes sense. After all, increasing customer retention can have a huge positive impact on your bottom line; research by Bain & Company found that increasing customer retention rates by 5% increases profits by more than 25%.2
Making this shift requires moving aggressively toward capturing, understanding, and responding to the tsunami that is customer feedback today. Customer experience leaders are doing this by applying innovative text analytics solutions that make it easy to integrate the “voice of the customer” throughout their organization.
That said, leveraging text analytics and integrating it into a successful VoC program is easier said than done. Collecting data is the easy part – actually analyzing it and taking action on the insights you uncover can be much more challenging. In this white paper, Luminoso outlines four essential steps to help your company get the most out of your customer feedback and become a truly customer-inspired organization.
You can download the white paper here.
1) (2014). “Gartner Surveys Confirm Customer Experience is the New Battlefield.”
2) Reichheld, Fred. (ND). “Prescription for Cutting Costs.” Bain & Company publication