listening247 in the Press
listening247 In the Press
The benefit CX Management has on businesses
Michalis Michael, CEO of listening247, explains the importance and advances of Customer Experience Measurement and Management (CXM). In this article you will find insights about the power of CX measurement and how AI processes multiple data sources, such as consumer calls, chats, emails, and social media posts to gain actionable information at the customer level and great insights at the market level.
Traditional CX Measurement Limitations
Historically, CX measurement often relied on basic customer surveys, which are prone to biases and limited in their scope. A recent McKinsey study found that while many companies still use surveys, 93% are dissatisfied with their effectiveness. The Net Promoter Score, a common metric, has also been criticized for failing to accurately predict business success, highlighting the need for a more robust approach.
The New Era of CX Measurement
The emergence of advanced technologies and SaaS solutions has revolutionized CX measurement. By harnessing AI to analyze unstructured data—such as text, audio, and social media—businesses can now gain detailed insights into customer sentiment and behavior. This tech-driven approach allows for a more comprehensive understanding of customer experiences, enabling businesses to design targeted interventions and enhance customer satisfaction.
The Future and Investment Potential
As the field of unstructured data analytics gains traction, it presents significant opportunities for investment. Companies leveraging AI to analyze both internal and external data sources are poised to dominate the CX landscape. The growing demand for these advanced solutions reflects their potential to not only prevent negative customer experiences but also to drive revenue through improved customer engagement. Consequently, investing in companies specializing in sophisticated CX measurement technologies could offer substantial returns as they lead the charge in this evolving industry.
Conclusion
The shift from outdated surveys to advanced AI-driven CX measurement is transforming how businesses understand and enhance customer experiences. This new approach provides deeper insights from unstructured data, improving customer satisfaction and driving revenue growth, making investment in these technologies essential for staying competitive.
Origal Source: Global Banking & Finance Review
