There's never a good time for a company to lose a good customer. In tough economic times it's even more critical for us to make sure our customers feel like we truly value them, and that we are willing to go the extra mile to provide the service they deserve. It can mean the difference in being competitive, and going out of business.
According to a recent Network Solutions/ University of Maryland study, small businesses feel that customer service is one of their main competitive strengths in a very challenging business climate. Ironically, another recent study from American Express found two-thirds of consumers surveyed feel companies aren't doing enough to earn their business - with 28% saying they think companies are actually paying less attention to providing good service.
So, while companies may believe customer service is a competitive advantage, what the customer says and feels is of utmost important, because they will act on those feelings. Not only will their actions consist of potentially walking away, but also telling everybody with in tweeting distance why they are doing so. And by the time they are done blogging and sharing their story with friends on Facebook, everyone will know what they think of your company and the way they feel they've been treated.
Understanding customer sentiment has always been important. In many cases it's been easier for customers to leave than to tell us what's wrong. This may be why there appears to be such a disconnect in perception of how customers and companies view customer service. And while in years past it was extremely difficult to know what customers truly think, today it's possible to understand what's really important to them, as they use social tools and channels to freely share what's on their mind - giving us an opportunity to get close to having that mythical 360-degree customer view companies have craved for years.
The importance of truly understanding our customer's needs in today's social/economic climate is why the focus of our October 19th webinar is on sentiment analysis, as it applies to customer service. This webinar will explore how companies can combine structured information stored in CRM applications, transactional data, and social data created publicly and distributed directly by customers, to gain valuable insight about them. Insight not available just a few short years ago.
You will hear how mining social data can provide valuable customer insights - not only what's important to them, by how they feel about it. You will learn how to use tools and services to create an effective listening strategy that provides important customer context, and how to turn that context into engagement opportunities. You'll also learn how aggregating contact information, transactional data, and social footprints from today's socially-connected customers can get you closer to turning a myth into reality.
I have the pleasure of moderating a great panel of experts who will share their experiences and expertise in this important area. Panelists include:
Brian Ellefritz, Senior Director, Social Media Marketing, SAP
Gary Qualls, Vice President of Business & Operations Development, DirecTV
Jim Sterne, Founder, eMetrics Marketing Optimization Summit
Here are the details for the webinar:
Title: Sentiment Analysis for Customer Service
Date: Tuesday October 19th
Time: 1pm Eastern
Cost: Free
Registration: Use this link to register
We hope you join us next Tuesday!