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InMoment Named Leader in The Forrester Wave™: Text Mining and Analytics Platforms, Q2 2024

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Text Mining: Everything You Need to Know

Text mining is the process of extracting useful information from large amounts of text using computational techniques. It involves analyzing and transforming unstructured text into structured data for insights.
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In today’s data-driven world, businesses generate and accumulate vast amounts of text data from various sources, including customer feedback, social media, emails, and internal documents. However, extracting meaningful insights from this unstructured data can be challenging. 

This is where text mining comes into play. By transforming unstructured text data into valuable information, text mining enables businesses to uncover hidden trends, sentiments, and relationships within the data. This process is crucial for making informed decisions, enhancing the customer experience, and maintaining a competitive edge. 

What is Text Mining?

Text mining, also known as text data mining, is the process of analyzing unstructured text data to extract meaningful patterns and insights. This process involves using techniques from natural language processing (NLP), machine learning, and statistics to transform textual information into a structured format that can be easily analyzed. By doing so, organizations can uncover hidden trends, sentiments, and relationships within the data, which can inform strategic decisions and drive business growth.

Text Mining Examples and Use Cases

Consider a business interested in contact center optimization. They could implement text mining to enhance operations and improve customer satisfaction. The center can identify common customer issues and frequently asked questions by analyzing transcripts of customer service calls, emails, and chat interactions.

From those insights, the contact center can pinpoint areas where agents need additional training and identity processes that require streamlining. For instance, text mining might reveal that a significant number of calls were related to the same few technical issues. This discovery can lead to bug fixes as well as a more comprehensive knowledge base for agents, which can significantly reduce call resolution times. 

Why is Text Mining Important?

In an era where data is considered the new oil, the ability to analyze and derive insights from unstructured text data is invaluable. Text mining is important for several reasons:

1. Extracting Valuable Insights: Text mining enables businesses to sift through large volumes of unstructured text data and extract valuable insights. Whether it’s customer feedback, social media comments, or internal documents, these insights can reveal trends, sentiments, and patterns that are crucial for strategic decision-making.

2. Enhancing Customer Experience: By analyzing customer feedback and sentiment, companies can better understand their customers’ needs, preferences, and pain points. This understanding allows businesses to tailor their products, services, and interactions to meet customer expectations, thereby enhancing overall customer satisfaction and loyalty.

3. Improving Operational Efficiency: Text mining can help identify inefficiencies and areas for improvement within an organization. For example, analyzing support tickets and emails can reveal common issues that need addressing, enabling companies to streamline their operations and improve service quality.

4. Supporting Data-Driven Decision Making: Text mining transforms unstructured data into structured data that can be easily analyzed and visualized. This transformation supports data-driven decision-making processes by providing actionable insights that are grounded in actual data rather than intuition or guesswork.

5. Gaining Competitive Advantage: By leveraging text mining, businesses can stay ahead of the competition by quickly identifying market trends, customer preferences, and emerging issues. This proactive approach allows companies to adapt and innovate faster than their competitors.

6. Enabling Predictive Analytics: Text mining can also be used in conjunction with predictive customer analytics to forecast future trends and behaviors. For instance, sentiment analysis of customer reviews can predict future product success, while topic modeling can identify emerging trends in customer interests.

Difference Between Text Mining and Text Analytics

While text mining and text analytics are often used interchangeably, they have distinct focuses and processes. Understanding the difference between the two can help businesses leverage the right techniques for their specific needs.

Text Mining

Text mining is the process of discovering patterns and extracting useful information from unstructured text data. It involves transforming text into a structured format, which can then be analyzed. The primary goal of text mining is to uncover hidden insights and trends that are not immediately obvious.

Key Components of Text Mining:

  • Data Collection: Gathering text data from various sources such as websites, social media, emails, and internal documents.
  • Preprocessing: Cleaning and preparing the text data by removing noise, normalizing text, and tokenizing.
  • Transformation: Converting text into a structured format using techniques like vectorization.
  • Analysis: Applying NLP, machine learning, and statistical methods to identify patterns and extract insights.

Text Analytics

Text analytics is the application of text mining techniques to solve specific business problems. It involves analyzing the structured data produced by text mining to gain actionable insights and inform decision-making. Text analytics often integrates text mining results with other types of data analysis to provide a comprehensive understanding of the data.

Key Components of Text Analytics:

  • Integration: Combining text data with other data sources to provide a holistic view.
  • Visualization: Presenting the findings in a comprehensible format using graphs, charts, and dashboards.
  • Reporting: Generating reports that highlight key insights and recommendations.
  • Actionable Insights: Using the analyzed data to inform business strategies and decisions.

Consider a company analyzing customer reviews to improve its products. Text mining would involve processing the reviews to identify common themes and sentiments. Text analytics would then take these findings and integrate them with sales data to understand the impact of customer feedback on product performance and make strategic recommendations.

How Text Mining Works

Text mining involves several steps that transform unstructured text data into structured data, which can then be analyzed to extract meaningful insights. Here is a detailed look at the key steps involved in the text mining process:

1. Data Collection: The first step in text mining is gathering text data from various sources. This can include customer feedback, social media posts, emails, online reviews, internal documents, and more. The data collection process may involve web scraping, database extraction, or API integration to aggregate the text data into a single repository.

2. Preprocessing: Once the data is collected, it needs to be cleaned and prepared for analysis. Preprocessing involves several sub-steps:

  • Tokenization: Splitting the text into individual words or tokens.
  • Stop Words Removal: Eliminating common words (e.g., “and”, “the”, “is”) that do not contribute to the analysis.
  • Stemming and Lemmatization: Reducing words to their root form (e.g., “running” to “run”).
  • Normalization: Converting text to a standard format, such as lowercase all words and removing punctuation and special characters.

3. Transformation: After preprocessing, the text needs to be transformed into a structured format. This often involves:

  • Vectorization: Converting text into numerical vectors that represent the frequency or presence of words or phrases. Common techniques include Term Frequency-Inverse Document Frequency (TF-IDF) and word embeddings like Word2Vec.
  • Feature Extraction: Identifying and extracting relevant features from the text that can be used in subsequent analysis.

4. Analysis: With the structured data in hand, various analytical techniques are applied to extract insights:

  • Natural Language Processing (NLP): Techniques such as named entity recognition (NER), part-of-speech tagging, and dependency parsing to understand the structure and meaning of the text.
  • Machine Learning: Applying algorithms to classify, cluster, and predict outcomes based on the text data. Common methods include sentiment analysis, topic modeling, and text classification.
  • Statistical Analysis: Using statistical methods to identify patterns, correlations, and trends within the text data.

5. Visualization: The final step is to present the findings in an easily understandable format. Visualization tools and techniques are used to create graphs, charts, word clouds, and dashboards that highlight key insights and trends. Effective visualization helps stakeholders quickly grasp the results and make informed decisions.

A compilation of images showing a word cloud and analysis produced from text mining

Text Mining Best Practices

Implementing text mining effectively requires adherence to several best practices to ensure accurate, actionable insights and optimal outcomes. By following these best practices, organizations will be set up for success in utilizing text mining effectively.  

1. Define Clear Objectives

Set clear, specific goals for what you want to achieve with text mining. Whether it’s enhancing customer experience, identifying market trends, or detecting fraud, having well-defined objectives will guide your project and measure success.

2. Select the Right Tools

Choose tools and software that align with your project requirements and team expertise. It is important to find text mining software that has all the necessary features to complete the projects you are working on.  

3. Data Quality and Diversity

Ensure that the text data you collect is relevant, high-quality, and diverse, drawing from sources such as customer feedback, social media, emails, and internal documents. Gathering data from multiple sources can decrease the chances of voluntary response bias, or other biases that can damage the integrity of your data. Comprehensive preprocessing is equally important; this includes cleaning the data to remove noise, normalizing text formats, and applying techniques like tokenization, word removal, and stemming/lemmatization to prepare the data for analysis.

4. Effective Data Preprocessing

Preprocess your text data meticulously. Clean the data by removing noise, standardizing text formats, and applying tokenization, stop-word removal, and stemming/lemmatization to prepare the text for analysis.

5. Ethical Considerations

Adhere to ethical standards and data privacy regulations. Anonymize sensitive information, obtain necessary consent, and address biases in your text data and models to ensure fairness and compliance.

Common Use Cases of Text Mining

Text mining has a wide range of applications across various industries. Here are some common use cases where text mining can provide significant value:

1. Customer Feedback Analysis

Businesses receive feedback from customers through various channels such as surveys, reviews, and social media. Text mining helps analyze this feedback to identify common themes, sentiments, and areas for improvement. For example, a company can use text mining to detect recurring complaints about a product feature and take corrective action.

2. Sentiment Analysis

Sentiment analysis involves determining the sentiment behind a piece of text, whether it’s positive, negative, or neutral. This is particularly useful for brands to monitor their reputation online. By analyzing customer reviews, social media posts, and other textual data, businesses can gauge public perception and respond accordingly.

3. Topic Modeling

Topic modeling is a technique used to discover the underlying topics within a large corpus of text. It helps in organizing and summarizing large collections of textual information. For example, a news organization can use topic modeling to automatically categorize articles into topics like politics, sports, and entertainment.

4. Fraud Detection

In sectors like finance and insurance, text mining is used to detect fraudulent activities. Text mining can identify suspicious patterns and flag potential fraud by analyzing claims, transaction records, and customer communications. This proactive approach helps in preventing fraud before it causes significant damage.

5. Market Research

Companies use text mining to analyze consumer opinions and market trends. By examining social media posts, reviews, and forums, businesses can gain insights into consumer preferences and behaviors. This information is valuable for product development, marketing strategies, and competitive analysis.

Implement Text Mining with InMoment

InMoment’s XI Platform has been recognized as one of the premier text-mining software solutions. Having recently been named a Leader in the Forrester Wave™: Text Mining and Analytics, the XI platform was noted as having capabilities that outperform competitors such as Qualtrics, AWS, and Google. To see what our text mining capabilities can do for you, schedule a demo today!

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Hotel Reputation Management: Boost Guest Satisfaction and Online Ratings

Hotel reputation management has never been more important. With the increased usage of online review platforms and social media, guests hold unprecedented power to shape public perception. A bad review or post gone viral could deter potential guests from ever getting to your website. With these stakes in mind, your hotel reputation management strategy must be an integral part of your business strategy to keep your hotel competitive with the top brands. 

Why Hotel Reputation Management Matters

Your hotel’s reputation is its most valuable asset. Positive reviews and glowing recommendations can drive bookings, while negative reviews can deter potential guests. In fact, research shows that a one-star increase in a hotel’s online rating can lead to a 9% increase in revenue.

Moreover, your reputation directly impacts brand loyalty and repeat business in an industry where word-of-mouth recommendations carry significant weight. A positive reputation not only attracts new guests but also fosters trust and loyalty among existing clientele.

Hotel Reputation Management Strategies for Success

There are various ways to improve the hospitality experience for your guests, but every great hotel reputation is built upon similar strategies. These strategies represent a commitment to the guest experience and lay the groundwork for continuous reputation success. 

Proactive Engagement

Proactively engage with guests throughout their journey, starting from the moment they express interest in your hotel. Respond promptly to inquiries and provide personalized recommendations based on their preferences. During their stay, encourage guests to share their experiences on social media and review platforms. Engage with guests post-stay to thank them for their feedback and encourage them to return.

Transparency and Authenticity

Transparency builds trust and credibility with guests. Be upfront about any limitations or challenges your hotel may face, whether it’s related to amenities, renovations, or external factors like weather conditions. Authenticity in your interactions and communications fosters genuine connections with guests and helps mitigate the impact of negative feedback.

Cultivate a Positive Online Presence

Actively manage your hotel’s online reputation by monitoring reviews and mentions across multiple platforms. Respond promptly to all reviews, both positive and negative, in a professional and courteous manner. Knowing how to respond to Google reviews is a cornerstone of an effective reputation management strategy. Showcase positive feedback on your website and social media channels to highlight your strengths and reassure potential guests. Encourage satisfied guests to share their experiences online and provide guidance on where and how to leave reviews.

How to Improve Your Hotel Reputation

While reputation management software can be useful and should be considered for hotels looking to take their online reputation seriously, it is not required to begin improving your reputation. There are things you can start doing today to get a head start on ensuring your reputation makes your business an option for guests. 

Respond Promptly and Professionally

Timely responses to guest feedback demonstrate your commitment to customer satisfaction. Monitor review platforms and social media channels regularly to address guest concerns in a timely manner. Craft personalized responses that acknowledge the guest’s feedback, express empathy, and outline steps taken to address their concerns.

Leverage Guest Feedback

Act on guest feedback to drive continuous improvement in your operations. Identify recurring themes and prioritize areas for improvement based on guest feedback data. Share feedback insights with relevant departments and empower staff to take ownership of guest satisfaction.

Optimize Online Presence

Optimize your hotel’s online presence across review platforms, social media channels, and search engines to maximize visibility and positive sentiment. Claim and update your business profiles on major review sites, ensuring accuracy and consistency of information. Encourage satisfied guests to leave reviews and ratings, and make it easy for them to do so by providing direct links and clear instructions. By improving your local SEO, you will make your business more prevalent in online searches. 

Invest in Training and Development

Invest in ongoing training and development programs for your staff to equip them with the skills and knowledge needed to deliver exceptional service. Provide regular training sessions on topics such as communication skills, conflict resolution, and guest engagement. Empower your staff to take ownership of guest satisfaction and empower them to go above and beyond to create memorable experiences.

Examples of Proactive Hotel Reputation Management 

Improving your hotel reputation does not have to be as complicated as creating in-depth sentiment analysis reports, it can be as simple as a brochure outlining your hotel’s amenities, or recommending must-see sights around town. Here are a few examples of hotel reputation management in action. 

Personalized Welcome Packages

Leading hotels leverage guest data to curate personalized welcome packages that cater to individual preferences and interests. For instance, a luxury resort might greet guests with a handpicked selection of local delicacies or customized amenities based on previous stay history. By anticipating guest needs and preferences before arrival, hotels create a memorable first impression that sets the tone for the entire stay.

Proactive Issue Resolution

In the event of a service lapse or guest complaint, proactive hotels take swift and decisive action to address the issue before it escalates. For instance, if a guest reports an issue with their room during their stay, a proactive hotel might immediately offer a room upgrade or complimentary amenity as a gesture of goodwill. By addressing guest concerns proactively and empathetically, hotels not only salvage guest satisfaction but also showcase their commitment to service excellence.

Post-Stay Follow-Up

After guests depart, proactive hotels continue to engage with them through thoughtful post-stay follow-up communications. For example, a luxury hotel might send a personalized thank-you email to guests along with a survey to gather feedback on their experience. By soliciting post-stay feedback and expressing gratitude for their patronage, hotels demonstrate a commitment to continuous improvement and guest satisfaction.

Features to Look for in Hotel Reputation Management Software

Hotel reputation management software is essential for hotels looking to proactively manage their online reputation, enhance guest satisfaction, and drive long-term success in an increasingly competitive market. Reputation management software will offer various services, and the software you choose will depend on what is the best fit for your business. Regardless, certain features represent the core functionality of reputation management software, and how it should be used. 

  • Review Monitoring and Aggregation: Choose a reputation management platform that aggregates reviews from major review sites like TripAdvisor, Google, Booking.com, and Expedia. A centralized dashboard allows you to monitor and respond to reviews from one location, which will save time and ensure consistency in your responses.
  • Sentiment Analysis: Look for software with advanced sentiment analysis capabilities that can automatically categorize reviews as positive, neutral, or negative based on the language used. This feature enables you to quickly identify trends and prioritize responses to reviews that require immediate attention.
  • Customizable Reporting: Robust reporting tools are essential for tracking key customer experience KPIs and measuring the impact of your reputation management efforts. Seek software that offers customizable reports with metrics such as review volume, average rating, sentiment trends, and competitor comparisons. The ability to schedule automated reports and receive alerts for significant changes in your reputation metrics is also beneficial.
  • Competitor Analysis: Gain insights into your competitors’ reputation performance to benchmark your performance and identify areas for improvement. Look for software that provides competitive analysis features, such as comparison tools, benchmarking reports, and market insights. Understanding how your hotel stacks up against competitors can inform your strategic decision-making and help you stay ahead of the competition.
  • Integration with CRM Systems: Seamless integration with your existing customer relationship management (CRM) system enhances the effectiveness of your reputation management efforts. Choose software that integrates with popular CRM platforms like Salesforce, HubSpot, or Microsoft Dynamics to ensure smooth data flow between systems. This integration enables you to leverage guest data to personalize your interactions and tailor your reputation management strategies to specific guest segments.

Improve Your Hotel Reputation with InMoment

No matter the size of your hotel or hotel network, InMoment’s dynamic XI Platform gives you all the tools you need to improve, monitor, and manage your hotel reputation! See what we can do for you by scheduling a demo today. 

References 

Stayntouch. How Online Reviews Impact Hotel Revenue. (https://www.stayntouch.com/blog/how-online-reviews-impact-hotel-revenue/). Accessed 5/6/2024.

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Hospitality Reputation Benchmarks Report 2024

InMoment’s 2024 Hospitality Online Reputation Benchmarks Report provides a top-level view of the state of reviews today for the hospitality and restaurant industries — and how these reviews reflect the experiences patients want to have. The benchmarks serve as a valuable tool for organizations looking to assess their reputational performance, set goals, make informed decisions, and drive continuous customer experience improvement.

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InMoment named Leader in Forrester Wave™: Text Mining and Analytics, Q2 2024: A Comprehensive Breakdown

InMoment is excited to announce its recognition as a Leader in the Forrester Wave™: Text Mining and Analytics, Q2 2024. This placement highlights our fierce commitment to innovation, customer satisfaction, and delivering future-proof technological solutions—no matter your business needs.

For some context, The Forrester Wave™ Text Mining and Analytics, Q2 2024 report is a rigorous evaluation of the top text mining and analytics providers. It assesses vendor scores based on three pillars: current product offering, strategy, and market presence, with subcategories that make up each pillar. 

With top scores in 11 subcategories and the second-highest overall score, InMoment continues to set the standard for integrated customer experience (CX) solutions, empowering businesses to harness the full potential of their unstructured data. This recognition validates our approach, reinforcing our position as a trusted partner for enterprises seeking to enhance their CX initiatives. Let’s go over where we stand apart. 

InMoment’s Standout Performance

These are the 11 subcategories we scored the highest possible scores in:

  • AI: knowledge-based or symbolic – Strong customization capabilities, transparency, and multitudes of available industry models, coupled with machine learning and generative AI-assisted adjustments.
  • AI: GenAI – pre-processing – Strengths focused on our ability to go beyond our standard filtering and search techniques to appropriately guide our generative AI solutions, such as AI Active Listening and Smart Summaries, to return high-quality results without common problems such as hallucinations. 
  • AI: GenAI – post-processing – Multiple methods to check the validity of generative AI results, provide robust structures to allow our users to appropriately tailor the generative AI output to suit their brand voice, and log all generated text to understand what took place. 
  • DevOps – Applications accessible to a broad set of users with low/no code options for customizations, extensions, automations, and integrations, plus APIs and Git integration for maximum flexibility.
  • Document level text mining/NLP – Supporting all industry-standard NLP functions, including classification (via ml models, boolean queries, or against pre-trained taxonomy based on Wikipedia categories), NER, theme/concept extraction, sentiment measurement, summarization, intention, effort, and emotion measurement.  
  • Globalization – NLP is available natively in 30 languages using a mixture of linguistic and ML models for each supported language. Currently hosted in North America, EU, Australia and Japan, and available in all regions served by AWS.
  • Natural language understanding/NLU – InMoment supports 8 emotions, 11 intents, and has an effort model. Depending on the use case, these are either clause-based or deep-model based.
  • Support for All Relevant Use Cases – some of these are:
    • General Purpose Text Mining: Analyzes training transcripts, regulatory updates, and client-specific documents.
    • Omnichannel CX Analytics: Processes text from surveys, social media, voice, reviews, chat, email, and more to understand VOC, trends, and emerging topics, often paired with metrics to analyze impact and churn.
    • Contact Centers: Analyzes call transcripts for categorization, QA, alerting, and enhanced CX with tools like Conversational Intelligence and dashboards for agents and managers.
  • Innovation – Following the Lexalytics acquisition, InMoment led text analytics innovation, which is recognized with industry awards. In 2023, we invested significantly in R&D, delivering 126 new features. Our strategy includes enhancing the NLP stack and integrating traditional and deep-learning models, emphasizing user-driven customizations and advanced NLP techniques.
  • Road Map
    • Listening: Shifting from static to conversational feedback solicitation.
    • Understanding: Summarizing data for rapid insights and integrating various data types.
    • Automated Action: AI-generated coaching and smart responding combine with historical context for enhanced decision-making.
  • Number of Customers – Approximately 3,000 clients globally leverage our text mining and analytics capabilities and platform.

Our approach is founded on meeting the diverse needs of our clients, providing them with the tools and insights necessary to drive impactful CX improvements.

Comparison with Major Competitors 

InMoment’s performance in the Forrester Wave™ report sets us apart from other big CX companies like Qualtrics. We beat out giants like AWS, Google, and IBM in our product offering, and Qualtrics in product offering and strategy. Unlike our competitors, InMoment offers a truly integrated experience that combines data from multiple sources, providing a holistic view of customer feedback.

Comprehensive Use Case Support

Our integrated CX analytics capabilities capture, analyze, and unify feedback from multiple customer feedback channels, including surveys, social media, voice interactions, and more. This integrated, holistic approach empowers businesses with a complete understanding of their customer journey, identifying key pain points and opportunities for improvement. 

Extended Use Cases InMoment’s platform is not limited to traditional CX analytics. We also support extended use cases such as:

Icon image of a user and graph.

Employee Experience (EX) Analytics

 Our tools help businesses understand and improve employee engagement, onboarding processes, and workplace satisfaction.

Icon of an ear for social listening.

Social Listening

We provide valuable insights into brand perception and customer sentiment by analyzing sentiment and trends from social media feeds.

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Market Intelligence

Our platform supports ad-hoc research, brand awareness studies, and industry trend analysis, helping businesses stay ahead of market changes and consumer expectations.

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Contact Center Intelligence

We offer templatized solutions that pull text analytics and revenue-specific insights, enabling businesses to drive sales and improve financial performance.

Client Testimonials

The use of InMoment AI will allow us to easily analyze feedback in all of its forms to receive more detailed and immediate insight from a wider variety of guest experiences.

Tony Darden

Chief Operating Officer, Jack in the Box

In today’s tumultuous world, we understand the importance of creating a company that is dedicated to delivering products that contribute to positive “me” time and “we” time for family and friends. Our collaboration with InMoment allows us to understand, in greater detail, our customers' wants and needs and helps us know how they feel so we can capture the hearts of our customers by creating superior experiences and products.

Jorge Calvachi

Director of Insights, La-Z-Boy

Through our ongoing collaboration with InMoment, we continue to drive toward a deeper understanding of the customer experience. InMoment’s flexible survey platform coupled with their expertise in intelligently bringing together customer feedback has allowed us to efficiently expand our listening program globally and understand key drivers to customer’ loyalty and satisfaction. We now have a better understanding of our customers’ diverse needs and expectations, and our regional teams can make smarter business decisions that benefit each customer and every experience.

Deborah Battaglia

Senior Vice President, Customer Experience at Assurant

What’s Up Next?

InMoment’s vision for the future focuses on continuous innovation and improvement. Our roadmap includes significant advancements in AI and NLP, particularly  enhancing feedback solicitation and data integration. Here’s how these initiatives will empower your brand:

Conversational Listening: Moving from static to dynamic, conversational feedback solicitation will significantly improve the quality and quantity of customer insights. For instance, real-time conversational analytics will allow your support teams to address issues more promptly and accurately, enhancing customer satisfaction and loyalty.

LLM-Powered Listening: Leveraging large language models to enhance the understanding of customer feedback will enable deeper, more nuanced insights. This can help your marketing team create targeted campaigns based on precise customer sentiment and preferences, driving higher engagement and conversion rates.

Non-Text Data Ingestion: Integrating non-textual data sources will provide a more complete view of the customer experience. For example, combining text analytics with visual or behavioral data can give your product development team a holistic view of how customers interact with your products, leading to more user-friendly designs and features.

Automated Action: Implementing AI-assisted frontline coaching and content recommendations will drive efficient customer recovery and engagement. Imagine your customer service platform automatically suggesting the best responses to inquiries based on historical data and context, reducing response times and improving the overall customer experience.

These advancements will position InMoment at the forefront of the CX industry, providing our customers with the toolkit they need to drive customer acquisition, retention, and growth. By integrating these cutting-edge technologies, your brand can stay ahead of the competition, continuously adapt to evolving customer needs, and achieve sustainable business success.

Conclusion

InMoment’s leadership in the Forrester Wave™: Text Mining and Analytics, Q2 2024, is a testament to our relentless pursuit of excellence and innovation, and while we may be smaller than some of the giants—Qualtrics, Google, AWS, IBM—our product offering is even mightier. Our comprehensive platform, advanced AI capabilities, and customer-centric approach set us apart, empowering businesses to achieve significant ROI through enhanced customer experiences.

Discover the power of InMoment’s text mining, analytics, and general CX solutions. Visit our website to learn more about our offerings and why the world’s most customer-centric brands trust InMoment. Schedule a demo with us today and take the first step towards transforming your customer experience program. 

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Choosing the Best Text Analysis Software for Your Business

Text Analysis Software

In a business landscape that has become digital-first, where consumers’ expectations can change overnight, it has never been more important to the success of your business to be able to understand and leverage data. One of this environment’s most challenging yet rewarding aspects is making sense of unstructured text data such as online reviews or customer emails. Most businesses achieve this by utilizing text analysis software. Text analysis software, also known as text analytics software, has become indispensable for businesses aiming to extract actionable insights from textual data to improve the customer experience. 

What is Text Analysis Software?

Text analysis software utilizes natural language understanding (NLU), a subset of natural language processing (NLP), to analyze text data. Given the unstructured nature of text, these tools process textual input to generate labels, tags, and insights. Text analysis has become a critical component of analytics and business intelligence, enabling companies to derive meaningful information from unstructured data sources such as emails, social media, online reviews, and more.

Whether it’s analyzing online reviews, customer feedback, or any other form of unstructured data, these tools can sift through large amounts of information and highlight important elements. By converting raw data into actionable insights, businesses can improve their strategies and make more informed decisions.

Why Your Business Needs Text Analysis Software

Most businesses are already collecting vast amounts of data, whether in the form of surveys, reviews, order history, contact center complaints, or other forms of data. However, collecting this data can be time-consuming and inefficient without the proper tools. By utilizing text analysis software, your business can be more efficient and realize benefits such as increased customer insights, improved operational efficiency, and others.

Types of Text Analysis Software

There are various types of text analytics software, each with its unique strengths. Some focus on sentiment analysis, which gauges emotions behind the text data. Others specialize in predictive analytics, using past data to forecast future trends. Text analytic software also prioritizes text mining, digging deep into the data to find hidden insights.

Regardless, when it comes to the kinds of text analysis software you’ll see in the market, they will all fall under two categories: self-service text analysis software and traditional text analysis software. The one that you end up choosing will depend on a variety of factors, as each type of software serves different purposes for different types of users. 

Self-Service Analysis Tools

Self-service text analysis software is designed for users with little to no technical knowledge of text analysis tools. These platforms often feature drag-and-drop interfaces, prebuilt templates, and interactive dashboards, making them accessible to just about anyone. 

Examples: 

  • Analyzing customer emails for sentiment trends
  • Creating dashboards to track marketing campaign performance

Traditional Text Analysis Tools

Traditional text analysis tools are geared toward technical professionals such as data analysts or data scientists. They offer extensive customization options, allowing users to create and fine-tune their algorithms and models. This flexibility is ideal for complex, large-scale projects that require specific, tailored solutions.

Due to their complexity, these tools may require a higher level of involvement or technical expertise, such as managed services or a dedicated representative. They may require ongoing support from IT departments or data science teams to maintain and update.

Examples:

  • Ingesting social media data to detect emerging trends.
  • Developing custom models to predict customer churn.

By carefully evaluating these factors, businesses can select the text analysis tool that best fits their specific requirements and enhances their ability to leverage text data for strategic advantage.

Things to Look for in Text Analysis Software

Selecting the right text analysis software is crucial for leveraging unstructured data to derive actionable insights. While features may vary from one software product to another, there are some key features you should consider when evaluating a software product for your business. 

Natural Language Processing Capabilities

  • Language Identification: The ability to detect and process multiple languages, ensuring the software can handle diverse data sources.
  • Tokenization: Breaking down text into smaller components, such as words or phrases, for detailed analysis.
  • Part of Speech Tagging: Identifying the grammatical components of text (e.g., nouns, verbs, adjectives) to understand the structure and context.

Sentiment Analysis

  • Sentiment Scoring: Determining the sentiment (positive, negative, neutral) of the text to gauge customer opinions or feedback.
  • Emotion Detection: Identifying specific emotions, such as happiness, anger, or sadness, for more nuanced insights.

Text Classification and Categorization

  • Automated Tagging: Automatically assigning tags or labels to text based on predefined categories or machine learning models.
  • Custom Taxonomies: Allowing users to create custom classification schemes to fit specific business needs.

Data Visualization

  • Interactive Dashboards: Providing visual representations of text analysis results through charts, graphs, and other visualization tools.
  • Real-time Analytics: Offering real-time updates and visualizations to monitor ongoing trends and changes.

Integration and Compatibility 

  • API Access: Offering APIs for seamless integration with other business systems and data sources.
  • Data Source Connectivity: Connecting with various data sources such as social media, CRM systems, emails, documents, and more.

Benefits of Text Analysis Software

Incorporating text analysis software into your business operations can offer a multitude of advantages. Here are some key benefits that can significantly enhance your organization’s efficiency, decision-making, and overall performance:

Enhanced Customer Insights

Text analysis software can process vast amounts of customer feedback from sources such as social media, emails, and online reviews. By determining the sentiment behind customer communications, businesses can gain valuable insights into customer satisfaction and loyalty, allowing them to address issues proactively and improve customer relationships and uphold their brand reputation.

Businesses can also identify recurring themes and patterns in customer interactions, which allows them to uncover emerging trends and shifts in customer preferences. This enables them to adapt their products, services, and marketing strategies to better align with customer needs.

Improved Decision-Making

With text analysis software, businesses can transform unstructured text data into structured insights that inform strategic decisions. Furthermore, text analysis can also be used to predict future trends based on historical data. 

For instance, analyzing past customer reviews and feedback can help businesses anticipate future customer behavior and preferences, allowing for more accurate forecasting and planning. This data-driven approach helps managers and executives make more informed and effective decisions, leading to better business outcomes.

Increased Operational Efficiency

Text analysis software automates the extraction and classification of key information from large volumes of text data, significantly reducing the time and effort required for manual data processing. 

By efficiently categorizing and prioritizing text data, text analysis software helps organizations allocate resources more effectively. For example, customer service teams can prioritize inquiries based on sentiment and urgency which ensures that critical issues are addressed promptly.

Improved Employee Engagement

Internally, text analysis software can be used to gauge employee sentiment through surveys, feedback forms, and other communications. Understanding how employees feel about various aspects of their work environment can help management make informed decisions to improve employee satisfaction and engagement.

Text analysis software can also be used to analyze text data from performance reviews and other employee interactions to provide insights into workforce performance and highlight areas for development and training.

The benefits of text analysis software extend across various facets of business operations, from customer service and marketing to compliance and employee engagement. By leveraging the power of text analysis, organizations can unlock valuable insights from their unstructured data, leading to improved decision-making, increased efficiency, and a competitive edge in the market.

Who Uses Text Analysis Software?

Text analysis software is a versatile tool that can be employed across various departments within a business, each leveraging its capabilities to enhance its specific functions. Here are some key areas of business where text analysis software is commonly used, along with how professionals in those areas utilize it:

Data Scientists

Data scientists are primarily responsible for analyzing and interpreting complex data to help businesses make informed decisions. They can use text analysis software for:

  • Algorithm Development: Data scientists use text analysis software to develop and refine natural language processing (NLP) algorithms that can classify, tag, and extract meaningful insights from text data.
  • Sentiment Analysis: They apply sentiment analysis to gauge customer sentiment from reviews, social media posts, and other text sources, helping the company understand public perception and improve customer experience.
  • Predictive Modeling: By analyzing historical text data, data scientists can create predictive models that forecast trends and customer behavior, aiding in strategic planning.

Marketing Teams

Marketing professionals are tasked with promoting products and services, understanding market trends, and engaging with customers effectively. They use text analysis software for:

  • Campaign Analysis: Marketers use text analysis software to assess the performance of marketing campaigns by analyzing customer feedback, social media interactions, and online reviews.
  • Audience Segmentation: Text analysis helps in segmenting audiences based on their interactions and sentiments, allowing marketers to tailor their messages for different customer groups.
  • Content Optimization: By analyzing which keywords and phrases resonate most with their audience, marketers can optimize their content for better engagement and conversion rates.

Customer Service Teams

Customer service representatives are responsible for managing customer inquiries, resolving issues, and ensuring customer satisfaction. They can use text analysis for:

  • Sentiment Detection: Text analysis software can detect the sentiment of customer emails, chat messages, and social media posts, helping representatives prioritize and address negative feedback promptly.
  • Trend Identification: By identifying common issues and complaints through text analysis, customer service teams can proactively address recurring problems and improve service quality.
  • Automation: Automated text analysis can classify and route customer queries to the appropriate departments or representatives, enhancing response times and efficiency.

Sales Teams

Sales professionals focus on generating leads, closing deals, and building customer relationships to drive revenue.

  • Lead Qualification: Text analysis can help sales teams analyze and prioritize leads based on the language and sentiment used in customer interactions, improving the likelihood of conversion.
  • Customer Insights: By analyzing past communications and feedback, sales teams can gain insights into customer preferences and pain points, enabling more personalized and effective sales pitches.
  • Pipeline Management: Text analysis software can track and analyze sales emails and call transcripts to identify trends and patterns, helping sales managers forecast pipeline health and performance.

Human Resources

Human resources (HR) professionals manage recruitment, employee relations, and organizational development. They use text analysis for:

  • Employee Sentiment Analysis: Text analysis tools can evaluate employee feedback from surveys, performance reviews, and internal communications to gauge overall sentiment and engagement levels.
  • Recruitment: Analyzing text from resumes and cover letters can help HR teams identify the best candidates for open positions based on specific keywords and experience levels.
  • Policy Effectiveness: HR can use text analysis to assess the effectiveness of company policies by analyzing employee feedback and identifying areas for improvement.

Finance Teams

Finance professionals manage the company’s financial planning, analysis, and reporting. They can use text analysis for:

  • Expense Analysis: Text analysis can help categorize and analyze free-text data in expense reports, uncovering spending patterns and identifying cost-saving opportunities.
  • Risk Management: Finance teams can use text analysis to monitor financial news and reports for early warning signs of market changes or potential risks.
  • Compliance: By analyzing communications and transaction records, finance teams can ensure adherence to regulatory requirements and detect potential compliance issues.

Text analysis software is a valuable asset for various departments within a business, from data science and marketing to customer service and HR. Each professional group utilizes the software to extract actionable insights from unstructured text data, enabling better decision-making, enhanced efficiency, and improved overall performance. By integrating text analysis into their workflows, businesses can harness the full potential of their data and drive success across all areas.

Challenges with Text Analysis Software

While text analysis software offers numerous advantages, its deployment, and effective use come with several challenges that organizations need to address to maximize its potential. These challenges include:

  • Data quality and preprocessing
  • Language and content understanding
  • Integration with existing systems
  • Scalability
  • Privacy and security concerns

These challenges can be avoided through strategic planning, advanced technology, and cross-functional collaboration. It is also important to ensure that the software is implemented with users being trained on it in the most efficient manner. 

How to Purchase Text Analysis Software

Selecting the right text analysis software for your business is a critical decision that can significantly impact your organization’s ability to harness insights from unstructured text data. Here’s a step-by-step guide to help you navigate the purchasing process effectively:

1. Define Your Requirements

Start by understanding the specific needs of your business. Are you looking to improve customer service, enhance marketing strategies, monitor brand reputation, or gain insights from internal communications?

Next, list must-have features such as sentiment analysis, entity recognition, keyword extraction, language support, integration capabilities, and user-friendliness. Ensure the software can scale with your business and adapt to evolving needs. Flexibility in terms of deployment (cloud-based or on-premises) is also important.

2. Conduct Market Research

Research the available text analysis software solutions in the market. Use review sites, industry reports, and technology forums to gather information on the top contenders.

Compare vendors based on features, pricing, customer reviews, and industry reputation. Look for case studies or success stories from businesses similar to yours.

Arrange for product demonstrations to see the software in action. Pay attention to accuracy, speed, and value of insights during these demos.

3. Evaluate Total Cost of Ownership

Consider the upfront costs, including licensing fees, setup costs, and any required hardware or infrastructure investments. Factor in maintenance fees, subscription costs, potential costs for updates or additional features, and support services. Be aware of any hidden costs, such as training, customization, and integration with existing systems.

4. Assess Integration and Compatibility

Integration with Existing Systems:

Ensure the software can integrate seamlessly with your current IT infrastructure, including CRM, ERP, and other data management systems.

Data Import and Export:

Check if the software supports easy data import/export to facilitate smooth data migration and interoperability with other tools.

5. Consider User Experience

Choose software that is user-friendly and requires minimal training. A good user interface can significantly enhance adoption rates among employees. Evaluate the vendor’s customer support services. Look for comprehensive training programs, documentation, and community forums.

Purchasing text analysis software is a strategic investment that requires careful consideration of your business needs, budget, and technical requirements. By following these steps—defining your requirements, conducting thorough research, evaluating costs, ensuring compatibility, considering user experience, ensuring security, pilot testing, and negotiating terms—you can select the right solution that will provide valuable insights and drive business success.

Implementation of Text Analysis Software

Implementation of text analysis software should be done in a systematic and planned manner. It’s important to train your team on how to use the software and understand the insights it provides. You should also regularly evaluate the software’s performance and make adjustments as needed to ensure it continues to meet your business needs.

Text Analysis Software Trends

In today’s digital age, text analytics solutions continue to evolve. One emerging trend is the increasing use of AI in text analytics, enhancing the software’s ability to understand and interpret human language. Another trend is the growth of real-time analysis, enabling businesses to respond quickly to emerging trends or issues. The future of text analysis software looks promising, with new advancements on the horizon that will further enhance its functionalities.

Text Analysis Software with InMoment

If you are looking to improve your text analysis, consider InMoment as your partner. InMoment was recently named a leader in the Forrester Text Mining & Analytics Wave. Recognized for our knowledge-based AI and best-in-class text extraction, the InMoment platform is the best choice for enterprises looking to take their text analytics to the next level. You can read the full report here!

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Securing Brand Loyalty In The Third Wave Of CX

Customer Loyalty

Maintaining customer loyalty has become increasingly challenging in today’s digital-first environment. According to Stanford Swinton, Executive VP at Bain & Company and Founder at NPSx by Bain in Company, we’re witnessing the dawn of the “Third Wave of CX”. But what does this mean for CX leaders?

In a recent podcast featuring Simon Fraser, VP Insights and Consultancy at InMoment, and Stanford Swinton, key strategies to secure brand loyalty amidst the evolving landscape of customer experience (CX) were discussed. Here are the key highlights:

Understanding the Third Wave of CX

The evolution of customer experience (CX) functions mirrors the changing landscape of customer expectations.  The “third wave” of CX represents a paradigm shift in how businesses approach customer experience. Over the past few decades, CX practices have evolved significantly. Initially, the focus was on identifying the most suitable customer experience metrics, such as Net Promoter Score (NPS) or customer satisfaction scores. However, this approach has matured, shifting towards a deeper understanding of customer behaviour and feedback loops. Now, in the third wave, the landscape is changing once again. Best practices from five years ago are no longer sufficient. Personalisation has become paramount, necessitating a move towards customer-centric, predictive machine learning. This shift emphasises understanding customer value and leveraging AI to predict outcomes.

Personalisation and Ethical Differentiation

In the third wave, businesses must combine personalisation with values to stand out. While digital strategies and omnichannel experiences were once differentiators, customers now seek tailored experiences and align themselves with brands that stand for something meaningful. There’s a growing trend for companies to differentiate themselves based on their ethical principles and social missions. By prioritising customer enrichment and ethical practices, brands can establish a deeper connection with consumers, fostering long-term loyalty.

Predictive CX and Value Unlocking

Predictive CX goes beyond traditional surveys; it correlates customer sentiment with financial outcomes, providing actionable insights for business growth. Predictive CX leverages AI and machine learning to understand customer behaviour beyond survey responses and in turn, businesses can design targeted experiences that drive value and loyalty.  Understanding who your customers are and categorising their needs, journeys, and drivers of experience is essential. This involves creating a robust customer taxonomy to structure data sets effectively. Both structured and unstructured data play crucial roles in predictive CX. By harnessing predictive analytics, businesses can unlock value from their customers. 

Challenges and Opportunities for Businesses

Transitioning to the third wave of CX presents both challenges and opportunities for businesses. While legacy CX practices may pose initial hurdles, organisations can leverage existing frameworks and garner support from key stakeholders. By aligning CX initiatives with broader business objectives and demonstrating the potential for top-line growth, CX leaders can drive organisational change effectively.

Embracing the Third Wave

In conclusion, securing brand loyalty in the third wave of CX requires a proactive approach to adaptation and innovation. The shift to the third wave of CX is not just a trend; it’s a necessity for businesses looking to thrive in the digital age. By embracing personalised experiences, ethical differentiation, and predictive analytics, companies can secure brand loyalty and drive positive economic outcomes.

Ready to explore the full discussion on securing brand loyalty in the third wave of CX? Listen to the full podcast below!

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Healthcare Reputation Management: The Complete Guide

Healthcare

In the healthcare industry, your reputation is built on trust and credibility. And, in a time where opinions are formed in an instant and shared in a second, online reputation management has never been more important for healthcare organizations. 

What is Healthcare Reputation Management?

Healthcare reputation management refers to the strategic process of monitoring, influencing, and maintaining the perceptions and opinions about a healthcare provider or organization within its target audience. This involves actively managing how patients, staff, partners, and the wider community perceive a healthcare organization’s quality of care, professionalism, and trustworthiness.

Why Reputation Management for Healthcare is Important 

Healthcare is inherently built on trust. Patients rely on healthcare providers to deliver competent, compassionate, and reliable care. A positive reputation instills confidence in patients and encourages them to seek care from a particular provider or organization. 

Furthermore, a strong reputation can contribute to higher levels of patient satisfaction and retention. Patients are more likely to return to a healthcare provider they trust and recommend their services to others. 

A positive brand reputation not only attracts patients but also top talent. Healthcare professionals want to work for organizations with strong reputations for providing high-quality care and treating staff well. Reputation management can help healthcare organizations attract and retain skilled and motivated staff members.

Benefits of Healthcare Reputation Management

Effective reputation management in healthcare organizations can produce benefits that go beyond customer experience metrics, they can directly correlate to patient care improvement. Reputation management can result in more loyal patients, a happier and more effective staff, and instituion improvement. 

Benefit #1: More Loyal Patients

Reputation management for healthcare organizations produces more loyal patients by improving the patient experience. The patient experience refers to every touch point the patient has with your organization, from appointment scheduling to follow-up communications. 

By enacting reputation management strategies, you will gain access to valuable insights into the patient experience that allow you to identify areas for improvement. Two common strategies are asking for, and responding to, patient reviews. By encouraging patients to share their experiences, your organization can gain valuable perspectives that would have otherwise been missed. Furthermore, responding to reviews demonstrates a commitment to your patients and shows them that your organization cares about their feedback. 

You can take your reputation management strategy further by utilizing a reputation management platform to centralize your patient reviews in one convenient location. This approach allows you to analyze the feedback as a whole to identify trends, patterns, and areas for improvement. With this information, you can make informed decisions and implement targeted improvements to improve the patient experience. 

Benefit #2: More Effective Staff

Reviews from your patients do more than tell you about how they feel about their experience, they can also help you identify areas of improvement within your organization. Patient reviews provide direct and candid assessments of the various aspects of care and service provided by your organization. By analyzing the content of these reviews, you can gain a deeper understanding of what aspects of the patient experience are resonating positively and which ones may be falling short of expectations. For example, patients may highlight issues such as long wait times or communication barriers. 

Having this data gives you the tools you need to make a case for organizational improvements that will make a difference. Whether it is additional headcount or employee training, reputation management can point you in the right direction of what changes need to be made to improve your organization. 

Benefit #3: Institution Improvement

Reputation management for healthcare organizations will positively impact your organization. This will happen as a result of increased patient retention. Almost half of healthcare organizations report that they lose more than 10% of their revenue due to a lack of patient retention. If you actively engage in reputation management, you will not only be saving lost revenue but you will gain revenue that you would otherwise have missed. 

Satisfied patients are also more than likely to share their experiences. Starting patient referral programs can be a great way to encourage satisfied patients to share their experiences and also drive patient acquisition. 

How to Improve Your Healthcare Reputation Management

When it comes to reputation management, it can be easy to be overwhelmed by all the different things you are told to do. While different organizations may find success with a variety of different tactics, there are a few key strategies that every healthcare organization looking to improve their reputation management should prioritize. 

Claim Your Institution Listings

To create a foundation for your reputation management strategy, you need to own the places your healthcare organization is listed. This means you need to find and claim your local listings and make sure all of the relevant information is up to date. 

If your healthcare organization has more than one location, it’s crucial to ensure consistency across all listings. This involves maintaining accurate and uniform information, such as addresses, phone numbers, operational hours, and services offered, across each location’s respective listings. 

Additionally, implementing a centralized local listing management solution for managing multiple listings can streamline the process and ensure that changes or updates are promptly reflected across all platforms. Consistent and up-to-date listings not only improve visibility and accessibility for patients seeking your services but also contribute to local SEO performance and a cohesive and professional brand image for your organization across all locations.

Generate and Respond to Reviews

Generating and responding to reviews is a fundamental aspect of healthcare reputation management. Positive reviews can enhance your organization’s credibility and attract new patients, while negative reviews provide valuable feedback for improvement and an opportunity to demonstrate responsiveness and professionalism.

You should actively encourage patients to leave reviews by integrating review requests into your patient communication strategy. This can include sending follow-up emails or text messages after appointments, including review links on your website and social media profiles, and displaying signage in your clinic inviting patients to share their experiences.

Furthermore, you need to monitor review platforms regularly and respond promptly to both positive and negative reviews. It is important to understand how to respond to Google reviews and express gratitude to patients who leave positive feedback and acknowledge their contributions to your organization. For negative reviews, respond empathetically and professionally, offering solutions or a willingness to address any concerns raised. Prompt responses demonstrate that you value patient feedback and are committed to providing exceptional care.

Create Location Pages

If your hospital network has multiple locations, then it would be beneficial to your institution and your patients to create a page dedicated to each location within your network. Since all hospitals within the same network don’t always offer the same services, outlining the specific services at a location on their respective location page would improve the patient experience. 

For example, a patient looking to schedule an MRI will go online looking for hospitals near them with this equipment. If a hospital’s location page outlines what services they offer, it saves the patient time by knowing which location to go to, rather than calling around to different locations. 

Create Educational Resources

Educational resources play a vital role in healthcare reputation management by empowering patients with valuable information, building trust, and establishing your organization as a reliable source of healthcare knowledge.

Start by identifying the information needs and concerns of your patient population. Conduct surveys, analyze patient feedback, and engage with frontline staff to gain insights into common questions, misconceptions, and areas where patients seek more information.

Using that knowledge, you can create informative and engaging content that addresses patient questions, educates about health conditions and treatments, and promotes wellness and preventive care. Content formats can vary from articles, blog posts, infographics, videos, and podcasts, all the way to downloadable guides. Ensure that content is accurate, evidence-based, and easy to understand for patients of varying health literacy levels.

Create Profile Pages for Practitioners

Another way to improve your healthcare reputation management is to create profile pages for practitioners at specific locations, or in your network. Not only do you want reviews for your location, but also for various staff providing the care such as doctors, surgeons, therapists, and any other specialists you may have. 

This step creates a direct link between your staff and your patients. While instilling trust in the facility is important, it is also important to instill trust the staff that will be caring for your patients. 

Manage Review Sites for Your Practitioners

Once practitioners begin receiving reviews about their care plans and treatment, it should be treated as if the reviews are about any institution or location in your healthcare network. You should be responding to these reviews, taking note of the feedback provided, and closing the loop with any patients who had negative experiences. 

Ask for Patient Feedback

Just as any other business would ask for reviews from their customers, it is important to ask for reviews from your patients. You want to give the patients an avenue to provide feedback on the facilities, as well as they care they received. Be sure to offer anonymous feedback options to secure medical confidentiality. 

This feedback does not have to be limited to patients, but can extend to loved ones as well. Healthcare experiences are unique in the sense that they rarely involve just one person. There is usually a support system of some kind surrounding patients in their healthcare experiences, and it is important to get their feedback on what they experienced. 

What to Look for in Healthcare Reputation Management Software

When choosing a reputation management platform for your organization, there will be different features and plans to evaluate. You will most likely be able to find success with a variety of solutions. However, in every successful reputation management platform, there are a few key features that are must-haves to ensure success. 

Local Listing Management

Ensure that the software offers robust local listing management capabilities. This feature allows you to manage your organization’s presence across various online platforms and directories, such as Google My Business, Yelp, and Healthgrades. Centralized management of local listings ensures consistency of information and enhances visibility to potential patients searching for healthcare services in your area.

Review Request Automation 

Look for software that streamlines the process of requesting and collecting patient reviews. Automated review request functionality allows you to systematically solicit feedback from patients following their appointments or interactions with your organization. By automating this process, you can increase the volume of reviews received and gather valuable insights into the patient experience more efficiently.

Sentiment Analysis

Sentiment analysis is another important feature to consider when evaluating a healthcare reputation management software because it allows organizations to gain a deeper understanding of what patients are feeling. 

Sentiment analysis utilizes natural language processing algorithms to analyze the tone, emotion, and context of patient reviews. By understanding the sentiment behind each review, your organization can better identify strengths and weaknesses in the patient experience. 

EMR Integration

Integration with electronic medical records (EMR) systems is crucial for seamless data exchange and comprehensive patient insights. Look for reputation management software that offers integration with popular EMR platforms, allowing you to sync patient demographic information, appointment history, and clinical data. EMR integration enhances the depth of patient insights available for analysis and ensures that review requests are targeted and personalized.

Improve Your Healthcare Reputation with InMoment

InMoment’s reputation management platform gives you the ability to house all your patient feedback in one place, optimize local listings, and utilize sentiment analysis to get to the root of how your patients are feeling. Our customizable reports also help you directly correlate reputation management to patient care success. Ready to see for yourself? Watch a reputation management demo today! 

References 

Etatics. 45+ Patient Retention and Churn Rate Statistics. (https://etactics.com/blog/patient-retention-statistics). Accessed 4/9/2024.

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2024 Healthcare Online Reputation Benchmarks Report

InMoment’s 2024 Healthcare Online Reputation Benchmarks Report provides a top-level view of the state of reviews today for the healthcare industry — and how these reviews reflect the experiences patients want to have. The benchmarks serve as a valuable tool for organizations looking to assess their reputational performance, set goals, make informed decisions, and drive continuous customer experience improvement.

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6 Things We Learned from EMEA CX Experts at XI Club Forum in Cologne

CX professionals at XI Club Form conversing.

Practical AI Strategies to Implement Today for Future Success

The XI Forum Club, which took place in Cologne, Germany, gathered industry experts to explore the future outlook for customer experience. Below are the top six insights extracted from the event that have the potential to transform your CX strategy:

#1: AI Paves the Way for Future CX Programmes

Integrating artificial intelligence (AI) into CX strategies isn’t just about future-proofing; it’s about seizing opportunities now. By leveraging AI, companies can capture a broader spectrum of customer signals, from traditional surveys to social media interactions and beyond. This comprehensive approach enables businesses to understand customer sentiment, preferences, and problems better, empowering more informed decisions.

#2: Social Media Signals Matter 

Social media comments and online reviews often go overlooked, yet they hold valuable insights for businesses. AI-driven analysis of this data not only allows for faster responses but also enhances customer loyalty and encourages positive reviews. Reputation management software powered by AI can efficiently monitor and analyze these interactions, enabling businesses to promptly address concerns and amplify positive feedback. Engaging with customers on social platforms through AI can improve search engine rankings and ultimately boost sales.

#3: Unlock Unlimited Insights with AI

AI unlocks hidden insights within unstructured data, which comprises a significant portion of company information. Through sentiment and emotion analysis, supported by AI, businesses can identify trends and behavioural patterns, even among customers who don’t provide direct feedback. By leveraging an AI customer experience platform, companies can make data-driven decisions and predict customer behaviour more accurately.

#4: Actionable Insights Drive Results

The true value of analysing customer data lies in translating insights into actionable strategies. AI facilitates the swift identification of key drivers impacting customer satisfaction and company growth. By deploying AI-driven solutions in real-time, companies can scale personalised interactions, optimise processes, and continuously refine their CX initiatives for maximum impact.

#5: Personalisation is Paramount

In the era of predictive analytics and personalisation, AI emerges as the cornerstone of CX excellence. Leveraging AI algorithms allows companies to deliver tailored recommendations based on individual preferences and contextual factors. Personalisation not only enhances customer loyalty but also drives revenue growth by aligning offerings with specific customer needs and preferences.

#6: Empowering Employees through AI

Contrary to fears of job displacement, AI augments employee capabilities by automating mundane tasks and enhancing service efficiency. AI-powered chatbots, for instance, alleviate customer service burdens, enabling staff to focus on value-added activities. Additionally, leveraging conversation analytics software, AI-driven insights from call transcripts facilitate employee coaching and process optimisation, fostering continuous improvement and skill development.

In conclusion, businesses can elevate their CX programs to new levels by adopting AI, focusing on social media interaction, uncovering hidden insights, making decisive moves, emphasising personalisation, and empowering their employees. Start your AI journey with a thorough strategy, reliable data sources, and a clear plan with your business goals in mind. 

Transform Your CX Strategy with InMoment

InMoment empowers businesses to revolutionize their customer experience strategy through a comprehensive suite of innovative tools and insights. Learn how you can elevate your CX strategy by scheduling a demo or speak to an expert on any of these topics by contacting us at voc@inmoment.com.

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Stepping Into The Future of Retail With Foot Locker

Foot Locker Store

Companies that prioritise understanding and meeting customer needs stand poised to thrive in a constantly changing marketplace. Foot Locker stands out as a beacon of innovation and customer-centricity. At the heart of their success lies a robust customer experience (CX) programme, meticulously designed to elevate every touchpoint of the customer journey. In this blog, we dive into the details of how Foot Locker is revolutionising retail through its CX initiatives.

Listening to ALL Customer Signals 

Foot Locker’s CX programme, run by InMoment, is fueled by a wide range of customer signals  that provide valuable insights into customer behaviour and preferences. These include:

  • Surveys: Structured feedback mechanisms to gather comprehensive insights into the customer experience.
    • Customer Pulse Feedback: Real-time feedback channels that capture customer sentiments and preferences.
    • Non-Buyer Feedback: Insights from customers who visited but did not make a purchase, helping to identify barriers to conversion.
    • Staff Feedback: Gathering insights from frontline staff to understand customer interactions and pain points.
    • Contact Centre Feedback: Insights from customer interactions with support teams, providing valuable feedback on pain points and areas for improvement.
  • Store Purchase Data: Insights from in-store transactions, helping to understand customer preferences and behaviour.
  • Digital Post Fulfillment and Post-Purchase Data: Analysis of customer interactions and feedback after digital purchases, aiding in refining the online shopping experience.
  • Competitor Analysis: Monitoring competitor performance and market trends to stay ahead of the curve.
  • Click and Collect Data: Understanding customer preferences for omnichannel shopping experiences.
  • Social Media Monitoring: Tracking customer sentiment and engagement on social platforms.
  • FLX Membership Programme Data: Analysis of member behaviour and preferences to enhance loyalty programme offerings.

Foot Locker’s CX programme is not just about collecting data; it’s about making meaningful connections and driving actionable insights across departments. By leveraging cross-functional omni Voice of the Customer VOC strategies, Foot locker’s integrated data-driven approach allows them to identify trends, pinpoint friction points, and continuously refine their strategies to deliver exceptional experiences. Whether it’s identifying opportunities for improvement, sharing compelling stories backed by data, or aligning with departmental roadmaps, Foot Locker’s CX programme is a testament to their customer-centric, integrated customer experience approach.

Integrating Insights Across Departments

What sets Foot Locker apart is its seamless integration of VOC insights across departments. From sales to digital, every team leverages customer feedback to drive operational improvements. By aligning department-specific KPIs with overall CX goals, Foot Locker ensures a unified approach towards enhancing customer satisfaction and driving business growth. 

Elevating Acquisition and Retention

Central to Foot Locker’s CX strategy is its loyalty programme, FLX. By closely monitoring sign-up trends, sales capture rates, and conversion rates of non-members to FLX members, Foot Locker maximises customer retention and lifetime value. Insights derived from VOC data enable them to tailor rewards and incentives, ensuring that every interaction leaves a lasting impression and strengthens customer loyalty.

Measuring ROI

At the heart of Footlocker’s CX programme lies a focus on measuring return on investment (ROI), which includes various analysis of performance and impact. The correlation between NPS scores and operational metrics, demonstrates how improvements in customer satisfaction directly contributes to sales performance. By identifying changes in customer behaviour, driving acquisition and retention through loyalty programmes, and aligning with overarching business objectives, Footlocker exemplifies a commitment to delivering tangible business outcomes through integrated CX initiatives.

Fueling Brand Love

In today’s hypercompetitive market, brand love is the ultimate currency. Foot Locker understands this implicitly, which is why they invest heavily in monitoring brand health and market share. By analysing competitor performance, market trends, and customer sentiment, Foot Locker stays ahead of the curve, continuously innovating and evolving to meet changing consumer demands and building a brand that resonates with customers on a deeper level.

Foot Locker’s CX Journey Continues

As Foot Locker continues its journey towards retail excellence, one thing is clear: they are committed to delivering exceptional retail customer experiences. By harnessing the power of VOC insights, driving operational excellence, nurturing customer loyalty, and fostering brand love, Foot Locker is not just redefining retail; they’re setting the standard for CX excellence in the industry. So, the next time you shop for the latest kicks, remember that behind every purchase lies a meticulously crafted experience, courtesy of Foot Locker’s CX revolution.

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Retail Reputation Management: Shop Strategies for Customer Retention

Retail reputation management is vital for maintaining a positive image and trust among consumers in the highly competitive retail industry. By consistently monitoring and addressing customer feedback, retailers can enhance customer loyalty, drive sales, and distinguish themselves from competitors.
Retail shopper looking at clothes

It can be argued that reputation management for retail companies is more important than it is in any other industry. Whether you are a local shop, regional staple, or nationwide brand, reputation management is one of the most important marketing strategies you need to master to ensure brand success. 

In retail, the power of the review is stronger than ever. Almost all consumers, 95% to be exact, will read an online review before purchasing a product. To manage your reputation and actively use customer feedback in your business operations, you need to implement strategies that are efficient, effective, and scalable. 

Why Retail Reputation Management Is So Important

Reputation management for retail companies is so important because it can be directly linked to business performance. Not only does your brand’s reputation account for almost two-thirds of its market value, but a negative online reputation can result in a significant loss in revenue. 

Your online reputation is also a significant factor in the way your customers perceive and interact with your brand. Almost 70% of consumers trust the opinions of other consumers more than paid advertisements. Furthermore, 85% of customers would be willing to pay more for a product or service from companies with higher ratings and reviews. 

With these statistics in mind, it becomes clear that retail reputation management is one of the most important things you can do to improve customer acquisition, retention, and the overall retail customer experience. These statistics are all fine and well, but how do you execute those strategies across your company?

5 Retail Reputation Management Strategies for Business Success

Talking about reputation management for retail companies is one thing, but doing it is another. To properly execute these strategies across your business, you need to have coordinated efforts across your entire organization. While that may seem complicated, it might be easier than you think. Here are four reputation management strategies that you can start initiating today to improve your business. 

Claim Your Local Listings

By claiming your local listings and having consistent information such as name, address, and phone number (referred to as NAP) across listings sites, your brand will be easier to find for prospective customers and rank higher in search results. This is also an important first step to take in your reputation management initiatives because it will give you the ability to respond to customer reviews. 

If your organization has locations numbering in the hundreds or thousands, it would be worth it to invest in a local listing management solution to remain efficient. This would also help you identify which listing sites and online directories matter the most to your business. 

Create Location Pages

There are many advantages to building out location pages on your website. For businesses with multiple locations, these pages can act as micro-sites that contain content specific to that location. This will also aid in running targeted campaigns that may only apply to one location. 

With locations pages, you are able to track location-specific metrics such as impressions, website, call, and navigation clicks. These will be useful to show the impact of your reputation management and customer experience initiatives.

Location pages also improve local SEO rankings. Because of the specificity of these pages, they will be more relevant to users in the respective geographic locations. 

Ask for Reviews

Asking for reviews is a simple way to grow the visibility and reputation of your company. If you are consistently delivering exceptional customer service and putting your customers first, they will more than likely be happy to let others know about their experience. As a matter of fact, 77% of consumers are willing to leave a review if asked to do so. 

If prospective customers go onto review sites and see a healthy amount of recent and positive reviews, it will increase social proof and make them more likely to continue down the funnel with your company. 

Respond to Reviews

Asking for reviews is important. But, it is even more important to know how to respond to Google reviews. This is not even considered a luxury in today’s market. Customers expect you to respond to their reviews. Take advantage not just to acknowledge positive reviews, but also to resolve negative feedback and rectify any misconceptions or inaccuracies. Doing so shows them that you care about their feedback, and can also strengthen your relationship with your customers. 

Showcase Customer Testimonials

Lastly, another great way to improve social proof and brand reputation is by showcasing customer testimonials on your website or even in your store. This is a great way to continue to build brand credibility and customer trust. Sharing real-life experiences from happy customers fosters a sense of community and belonging, as prospective buyers can relate to the positive experiences of others.

How to Improve Reputation Management in Retail

Your retail reputation management efforts do not stop after one big push, they are an ongoing effort that needs to become part of your regular business operations. The leaders in retail reputation management are always looking for ways to improve. For example, retail leaders respond to reviews in a time that is 10% faster than the industry average. While it may seem like a small difference, it goes a long way in showing customers that their feedback matters. 

Monitor Online Reviews from Social Media and Business Listings

Monitoring online reviews from various platforms such as social media and business listings is one of the most important ongoing efforts for any business striving to maintain a positive reputation. 

By actively keeping tabs on what customers are saying about your products or services, you gain invaluable insights into areas where improvements may be needed and can swiftly address any issues before they escalate. 

Positive reviews also serve as powerful testimonials that can attract new customers and enhance brand credibility. Through vigilant monitoring and timely responses, you can effectively manage your online presence and cultivate lasting relationships with your customers.

Engage with Influencers and Local Guides

Harnessing the influence of social media influencers and local guides presents a dynamic opportunity to amplify your business’s presence and reach. Collaborating with influencers allows you to showcase the best aspects of your offerings to a wider audience by leveraging their credibility and reach to endorse your brand authentically. 

Similarly, engaging with local guides who share their firsthand experiences can provide authentic perspectives that resonate with potential customers seeking genuine recommendations. The Google Local Guide program, for instance, empowers individuals to contribute meaningful insights and recommendations that foster a sense of community and trust within local markets.

Transform Online Reviews for Better Customer Experience

Turning online reviews into actionable insights is a proactive approach to enhancing the overall customer experience. By analyzing customer feedback, your business can identify recurring themes, pinpoint areas for improvement, and implement targeted strategies to address customer concerns. This not only demonstrates a commitment to listening to customers but also fosters a culture of continuous improvement within the organization. 

By responding promptly and effectively to reviews, you can mitigate negative experiences, bolster customer satisfaction, and ultimately improve your online reputation and star rating.

Utilize Reputation Management Software for Retail Companies

For retail companies with multiple locations, managing reputation across various platforms can be a daunting task. Reputation management software offers a streamlined solution that provides a centralized platform to monitor and respond to reviews efficiently. By leveraging automation and analytics, retail companies can gain actionable insights into customer sentiment across different locations, enabling them to make informed decisions to enhance the customer experience. 

Integrating reputation management software into your operations streamlines the process and ensures consistency and effectiveness in managing your online reputation. 

What to Look For in Retail Reputation Management Software

When choosing a retail reputation management software, your business will have a lot of options to choose from. It is up to you to choose the software that best fits the goals of your businesses. Regardless, certain features are prevalent in all effective reputation management software. 

  • Review Monitoring: Look for software that can track and monitor reviews across various online platforms, including social media, review sites, and search engines. It should provide real-time alerts for new reviews and mentions.
  • Sentiment Analysis: The software should offer sentiment analysis capabilities to understand the tone and context of reviews. This helps in prioritizing and addressing negative feedback promptly.
  • Response Management: Look for features that streamline the process of responding to reviews. This may include templates for common responses, scheduling tools, and the ability to respond directly from the platform.
  • Analytics and Reporting: Choose software that provides comprehensive analytics and reporting capabilities. This should include insights into review trends, customer sentiment, response times, and the impact of reputation management efforts on key metrics such as sales and customer retention.
  • User-friendly Interface: Opt for software with an intuitive interface that is easy to navigate and use. This ensures that your team can quickly adopt the platform and make the most of its features.

By considering these factors, you can select retail reputation management software that meets the standard for performance while also matching your business’s needs.

Win at Retail Reputation Management with InMoment

Deciding where to start on your retail reputation management may seem overwhelming, but InMoment has been helping the world’s leading retail brands improve their reputation management and customer experience for years. 

We have helped brands like Foot Locker make sense of large amounts of customer data in order to improve business performance. See what we can do for you by scheduling a reputation management demo today!  

References 

Luisa Zhou. Online Review Statistics: The Definitive List (2024 Data). (https://www.luisazhou.com/blog/online-review-statistics/). Accessed 3/29/2024. 

Gitnux. Reputation Management Statistics. (https://gitnux.org/reputation-management-statistics/). Accessed 3/29/2024. 

fera.ai. 59 Online Review Statistics You Need to Know in 2024. (https://www.fera.ai/blog/posts/online-product-review-statistics-ecommerce-stores-need-them). Accessed 3/29/2024.

REPORT

2024 Retail Online Reputation Benchmarks Report

InMoment’s 2024 Retail Online Reputation Benchmarks Report provides a top-level view of the state of reviews today for the retail industry — and how these reviews reflect the experiences retail consumers want to have. The benchmarks serve as a valuable tool for organizations looking to assess their reputational performance, set goals, make informed decisions, and drive continuous customer experience improvement.

Download Report

Tell us more about yourself so we can tailor your demo for you

Watch The Video – Make Online Reputation Your Acquisition Strategy

97% of consumers scope out online reviews before making a decision – watch this video to see how InMoment’s solution grows your business through online reputation management.

How to Grow Your Business with Reputation Management

Best-in class industry benchmarks to create your reputation management strategy

How to Design a Survey to Accelerate Your Customer Experience Program

Survey Design

Surveys are not dead.

You can find a lot of articles, point-of-views, or CX pundits on social media preaching that the survey is dead. Admittedly, we here at InMoment tell our current and prospective clients that they may be focusing too much on surveys and that less than 10% of their customer feedback is likely to come from surveys. An IDG stat says unstructured feedback is growing at 85% year over year which also threatens the value of traditional score-based surveys.

All this being said, the survey is not dead. As a matter of fact, it isn’t going away any time soon. And, I hope it never does! Surveys still present a unique opportunity to have a 1:1 conversation with your customer. And, to illustrate our support for this concept, we’ve developed some ‘Survey Bumpers’—much like the rails in bowling—to help guide you toward crafting a survey that achieves a ‘strike.’ These tips are designed to ensure that your survey stays on track to hit all the right points and maximize its effectiveness in a world where the reality is that surveys may no longer represent the lion’s share of feedback. However, they are still a critical part of what we refer to as an integrated customer experience.  

Survey 101

Before we dive into the survey bumpers, let’s recap surveys as a whole. When it comes to surveys, they can all generally fall under two categories: Transactional and Relationship. To be honest, I still talk to prospects (not as many clients) who don’t always understand this difference. 

Transactional surveys are typically conducted following a specific transaction or interaction between a customer and a company. The primary goal of transactional surveys is to gather feedback on the customer’s experience during that specific interaction – or as we like to say (tongue in cheek) in the moment. They are often used to assess satisfaction levels, understand the ease of doing business, identify areas for improvement, and address any issues or concerns in real-time.

Relationship surveys, on the other hand, focus on measuring the overall satisfaction and loyalty (to the brand and the products) of customers over a longer period. Rather than targeting a single transaction, relationship surveys aim to understand the broader relationship between the customer and the company. These surveys typically cover various touchpoints and interactions across the customer journey over a longer period, providing insights into overall brand perception, loyalty, and advocacy.

For many companies, relationship surveys rely on the Net Promoter Score (NPS) as the primary metric. This can help them understand several factors including the customer’s likelihood to recommend or repurchase, and overall satisfaction with the brand.

Understanding the basics of surveys is important to know before moving on to survey design. While the designs of surveys may vary from one to the other, the fundamentals of surveys will always remain the same.

What Is Survey Design?

Survey design is the detailed process of creating surveys that optimize the potential results that can be collected from a well-made questionnaire. Decent design takes into account the kind of questions, the quality of questions, the flow and organization of the survey, and the possible biases or conflicts of both questions and participants.

Though creating a questionnaire may seem simple at first, it can be a complicated and tedious process. Questions can be asked in different ways, both in form and language. How much context or detail is provided can sway a participant’s opinion. What questions are presented first will likely influence the questions posed later in the survey, which can impact results. 

How to Design A Survey

Outside of the types of surveys, we believe that every survey should have a “North Star Metric” to anchor on. This metric does not have to be the same for every touch point, but it should directly correlate with a business goal. Referencing my bowling metaphor from earlier, a survey with no goal is like bowling into a lane with no pins: pointless. 

How Long Should a Survey Be? 

When it comes to survey design, shorter is better. Your customers don’t want to take long surveys. Nobody does. Research shows that surveys that take just a few minutes to complete (4-7 questions max) have the highest percentage of completion rates. Not only should your survey be short, it should be targeted. All surveys, regardless of objective or format, should have the same structure of concise language, open-ended questions, and confirmation texts. 

Concise, Inviting Language

Surveys should open with a brief introduction that is on brand and invites the users to complete the survey. For example, some common intros include:

  • We want to hear from you
  • Tell us how we did
  • Your feedback is important to us

Regardless of the approach you choose, the user should immediately feel like their feedback is valuable and will be used to direct business decisions, not just improve a score. 

Open-Ended Question

One of my biggest survey design peeves is the “conditional” open end that is based on a good score (“Great – tell us what was awesome”) or a bad score (“Sorry we failed you”). We want our clients to get both sides every time they survey. To do that, you need to pose a question that allows the user to explain the good and the bad from their recent experience. An example of this would be: 

  • “Please tell us why you gave that score including what wowed you and where we need to improve.”

Confirmation Text

Whenever a survey has been submitted, make sure you add a step in your workflows that thanks the user for their time. In this step, being short, sweet, and on-brand is key. Just extend a small gesture that shows the user they have completed the survey process. An example might look like this: 

  • “Thank you for taking the time to share your feedback. We use this feedback to improve our products, service, and experience.”

Survey Design Best Practices

Now that we have the basics covered, let’s dive into a few survey bumpers that will lead you toward gathering insights – not just completion rates. These survey bumpers are aimed at outlining a strategy centered around business improvement. Rather than sending a survey for the sake of sending it, this strategy will help you achieve data that can be used, not just analyzed and archived. We want to pick up the spare – not leave the 7-10 split.

Design with the End in Mind

Before you start this process, you need to establish your objectives, goals, and desired outcomes. This foundational step lays the groundwork for a strategic approach to survey design, ensuring that every question and element serves a purpose in driving toward a measurable business outcome. By clearly identifying measurable outcomes, your survey will have a much better probability of capturing insights that you can turn into actions. By answering these questions, you will have a clear understanding of the goal of your survey: 

1. What business problem(s) are you trying to solve?

Understanding the specific business problem(s) or challenge that the survey aims to address is arguably the most important part of this process. It helps define the scope of the survey, frame relevant questions, and ensure that the collected customer feedback directly contributes to solving the problem. Without a clear understanding of the problem, the survey will render itself useless. And, for anyone who works with me or has read my POVs, your business problem must have a financial lens. CX programs sustain and grow if they drive a financial return to the business.

2. Who will be the internal champions of the data?

As part of a program design discussion, the target customer personas will evolve based on what you are measuring and who you can contact based on the availability of data and accessibility to it. But, to me, the more important question to answer is who in the company will be accountable for taking action based on the insights captured by the survey. Another rule I try to follow is that every question needs to have an owner – someone who wants the customer’s voice to take measurable action toward a business. No owner or no goal? Don’t ask the question.

For example, if we offer a closed-loop system, is there a resource aligned to close the loop? Or, if our goal is to understand the ease of completing a purchase on our website, is there an e-commerce team leveraging the customer feedback?

3. What are you doing today? How are you measuring success? 

Assessing the current state of the union within your organization provides context for interpreting survey results and evaluating the effectiveness of existing strategies. By understanding what your organization is currently doing, and whether or not it is achieving the desired results, can help identify areas of success and areas for improvement. Related to this, has the program been continuously updated to reflect changing team players and changing business conditions

4. Do people across the organization care about the score or the insights?

If the answer is the score – how do I say this nicely – I would suggest stepping back to see what role scores play in your CX strategy and what role they should play moving forward. If I can offer any wisdom it’s this: score-focused CX programs fail over time. Don’t let score trends paralyze modernization. To truly understand your customers and improve their experience, you need to care about the insights that come from these types of initiatives. And, broken record time, you need to be able to point to financial proof points from the actions taken. 

Just to be clear, scores are a critical part of a survey program. Understanding the impact of elements of your product/service delivery as measured by customer scores is important. Culturally, scores can be a rallying cry across the business. Advanced financial models can show how scores impact the bottom line. My “parting shot” for this topic is to just make sure the scores don’t become the program’s primary success metric.

How to Design the Best Survey for Your Business

Now that we have our bumpers in place. Let’s get into the details of how your business can bowl that perfect game. These steps to survey design are designed to get your business the cleanest, most actionable feedback that can be combined with other omnichannel data to round out a complete view of the customer experience so you can start improving it. 

1. Ask the Main Metric Question First

Starting with the main metric question allows you to capture the customer’s overall perception without any bias from subsequent questions. This question – and metric – should tie to the business outcome you are trying to achieve.

2. Follow Up with A Non-Conditional Open Ended Question

Following up the main metric question with an open-ended question encourages respondents to elaborate on their initial response. Open-ended questions allow for more conversational and qualitative feedback that provides deeper insights into the reasons behind their initial answer. See the guidance earlier in this article about ensuring this question is unconditional. 

3.  Identify A Small Group of Business drivers Related to Your Problem

This step involves selecting a focused set of business drivers or factors that are directly relevant to the business outcome you are hoping to achieve. By narrowing down the scope to a small group of key elements, you can ensure that your survey remains concise and targeted, making it easier for respondents to provide meaningful feedback. 

4. Offer to Follow Up

A recommended next step in this process is to offer to follow up or close the loop with the customer. Closing the loop is important because it demonstrates to customers that their feedback is valued and taken seriously. Research shows that when a company closes the loop with a customer, the customer is more likely to respond to subsequent surveys. It also allows you to save an at-risk customer if they have an issue you can fix. When customers see that their input leads to tangible changes or improvements in products, services, or processes, they feel heard and appreciated. 

However, you should only offer to do this if you have the staff to support it. Otherwise, you are only hurting yourself and negatively impacting the customer experience. 

5. Thank the Customer 

Always end the survey by expressing gratitude to respondents for taking the time to participate in the survey. This step is important for fostering goodwill and encouraging future engagement. A simple thank-you message at the end of the survey acknowledges the respondents’ contribution and reinforces the idea that their feedback is valuable to the business. Even better, I worked with a client who used their “thank you” page to highlight a couple of changes they made as a direct result of their survey program. 

The Future of Surveys with InMoment

To reiterate, surveys need to remain an important element of your customer listening strategy. While it is easy to say they are “dead,”  the truth is that their role is simply evolving to fit the modern landscape of customer feedback. Rather than being viewed as the endpoint of customer feedback, we see them as the first rung on the ladder of an integrated customer experience program – the opening frame to go back to our bowling analogy. 

For them to continue to be useful surveys need to be integrated into a broader strategy that encompasses various feedback channels such as social media, online reviews, customer service interactions, and more. By building out an integrated customer experience program that brings in a wide variety of data sources, businesses can capture a more comprehensive understanding of the customer journey and tailor their strategies accordingly. 

Think of this article as an InMoment PSA: Since surveys are still a vital channel to hear from your customers, you should make them the best they can be. 

See how Barry Nash & Company partnered with InMoment to merge traditional survey data with text analytics and market research to develop groundbreaking research and reports for the entertainment industry! 

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10 Steps to Easily Build An Integrated Customer Experience Program

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Financial Services Reputation Management: Secure Lifelong Customers

Did you know that over half of financial services consumers say they have low trust in their provider? And, of those consumers, only 34% of them would recommend their brand to friends and family. 

Financial services providers are tasked with a unique challenge. Since finances are such a personal part of our lives, consumers in the industry are the most withholding of their trust. So it is up to the organization to earn that trust and prove to the consumer that they are deserving of their business and can be trusted with their finances. 

Why Reputation Management Matters in the Financial Service Industry? 

To gain this trust, it is now more important than ever for financial services institutions to implement strong online reputation management initiatives. Online reputation management gives businesses the power to control the narrative surrounding their brand, respond swiftly to feedback, and proactively address any negative publicity, thereby fostering credibility and confidence among current and potential clients. This holds significant importance for every business operating within the financial services sector including:

  • Retail and commercial banks
  • Investment banks
  • Insurance companies
  • Savings and loans associations
  • Brokerage firms
  • Mortgage providers
  • Credit unions

Given the critical role money plays in people’s lives and its direct impact on their livelihoods, individuals often conduct thorough research, including assessing a financial institution’s online reputation, before making a decision. 

Financial Services Reputation Management Strategies

Financial services reputation management is not as tricky as it may seem. If you are just beginning your online reputation management journey, your goal should be to monitor, influence, and improve the perception of your company. This can be done in a variety of ways, and you are going to need effective strategies that resonate with your customers. Based on data and market research, we’ve pulled together some reputation management strategies that are most likely to land with your customers and improve your brand reputation. 

1. Respond to Reviews

Data shows that in the financial services industry, the average time taken to respond to reviews is 3.44 days. However, the leaders in the industry (10% of organizations) have an average response time of just 1.59 days — a 54% difference. 

Not only does responding to reviews in less than two days mark you as a leader in the industry, but it also shows customers that you care about their feedback. With that, it is important to learn how to respond to negative reviews. If and when negative feedback arises, the sooner you take action, the more likely you are to resolve the issue and turn a negative review into a positive one. 

2. Create Educational Content

More than anything, your consumers want to feel educated and supported throughout their journey with your brand. Creating educational content shows your customers that you value them and that you want them to succeed. Here are some examples of educational content you could provide: 

  • Online educational resources where they can expand their financial knowledge on their own time
  • Real-time investment tips and awareness
  • Personalized suggestions that are tailored to where they are in their financial journey, perhaps through an online portal or virtual advisor meeting

Your customers see you as a partner, and they feel that you should be helping them on their journey to financial freedom. By creating educational content such as the ones listed above, you prove that you are buying into that partnership. 

3. Improve the Customer Experience Based on Feedback

While responding to reviews and creating content to support your customers are important, there is only one group that can tell you the changes you need to make: your customers. 

Your business needs to set up an integrated customer experience program that combines structured and unstructured data that will give you a holistic view and understanding of your customers. Your customer experience program also needs to utilize predictive customer analytics so that you can fix the problems your customers didn’t realize they were having. 

If you are wanting to be proactive about your reputation management initiatives, you can streamline your efforts with reputation management software. Softwares such as these can reduce the hassle of manually managing listings and reputation management for financial services organizations. 

Reputation Management Tips for Businesses in Financial Services

Financial services reputation management can look different for organizations depending on which corner of the industry you operate in. Insurance customers have different needs and priorities than mortgage consumers do. It is your job to identify what is most important to your consumers and prioritize your reputation management strategies accordingly. 

Retail and Commercial Banks

For retail and commercial banks to realize reputation management success, they should put a focus on improving customer service, convenience and accessibility, seamless digital experiences, and communication strategies. 

This is important because it will increase a bank’s reliability, trustworthiness, and overall satisfaction. By prioritizing these aspects, banks can cultivate strong, enduring relationships with their customers, leading to increased loyalty, positive word-of-mouth referrals, and ultimately, sustained growth and profitability

Some other areas for improvement may include fees and charges, security and fraud protection, product offerings, and social responsibility. These improvement will go above and beyond reputation management and affect the overarching customer experience and give retail banks more of a competitive advantage. 

Investment Banks

Investment banks can succeed with their reputation management by consistently demonstrating integrity and transparency in their dealings. This will foster trust among clients and stakeholders. This can be done by adhering to ethical standards, providing accurate and timely information, and upholding a commitment to client interests above all else.

Additionally, maintaining open lines of communication, actively addressing concerns, and adapting to evolving regulatory requirements can further bolster a reputation as reliable and reputable financial partners.

To go even further, consider implementing a focus on your expertise and advisory services. Consumers in this space want to feel educated and be a part of the process. In educating and advising them regularly, they feel included and will be more satisfied with their returns than if they were left in the dark. 

Insurance Companies

Insurance companies need to put a heavy emphasis on agent training and customer service. In the insurance industry, every customer will have to talk to an agent—whether through online chat, over the phone, or in person—and these are the interactions that matter the most with your brand. 

These interactions need to be positive for your insurance reputation management to improve. If a customer is dissatisfied with an interaction, it could cause them to leave a negative review about the entire company. Contrarily, a positive experience will cause them to respond well to post-claim surveys and favorably improve your brand reputation management. 

Savings and Loans Associations

Savings and loans associations can succeed with their reputation management initiatives by focusing on providing exceptional customer service, offering personalized financial solutions, and cultivating strong relationships with their members. This involves ensuring that members feel valued, understood, and supported throughout their financial journey.

Secondly, they should emphasize financial stability and security by reassuring customers that their deposits are safe and that the institution is well-managed and financially sound. Transparency regarding their financial health and regulatory compliance is crucial in building trust and confidence among members.

Lastly, they should actively engage with their local communities and demonstrate a commitment to social responsibility and contribute to initiatives that address community needs. By being seen as a trusted and involved community partner, S&Ls can enhance their reputation and foster a positive brand image.

Brokerage Firms

Brokerage firms should focus on operating with the high ethical standards. Firms should prioritize integrity in all interactions with clients, regulators, and the public. This includes transparent fee structures, honest communication about risks, and avoiding conflicts of interest.

Furthermore, implementing up-to-date trading platforms and tools, expanding investment offerings, and effectively securing accounts will build trust with current customers and improve brand reputation. 

Mortgage Providers

There are many things mortgage companies can do to improve their brand reputation. Since mortgages commonly represent a large milestone in the consumers’ life, they want to feel educated, reassured, and supported throughout the entire process. 

One of the biggest ways mortgage companies can improve their reputation by being transparent in lending practices. Customers want to know specific credit requirements and approval criteria, as well being assured that the company is following ethical lending requirements. Effectively implementing these tactics will make any mortgage company quickly become a trusted partner in the community. 

Credit Unions

For credit unions to improve their brand reputation, there needs to be an emphasis on the member experience. When consumers choose credit unions over traditional banks, they are looking for a local partner for their financial journeys. 

To capitalize on that, credit unions need to prioritize member feedback. Credit unions are member-operated by definition, and it needs to be clear that every member’s feedback is going to be taken into consideration when making business decisions. 

Furthermore, members want access to personalized guidance, and resources, and want to be able to access those resources across different channels. Being able to implement cross-channel experiences that deliver personalized attention will lead credit unions to realize reputation and business success.

Communication and transparency is important across the board for all of these financial businesses, regardless of the niche they operate in. Prioritizing transparent communication and utilizing customer feedback will help any financial institution succeed. 

The Benefits of Reputation Management in Financial Services

We’ve covered why consumer trust is so important in financial services, and that you need to implement a reputation management strategy in order to earn that trust, but there are also business benefits that come from those strategies. Here are some of the outcomes you can expect from an effective reputation management strategy. 

  • Increased Trust: Financial services rely heavily on trust. Positive online reputation management helps build and maintain trust with clients, investors, and stakeholders by showcasing reliability, professionalism, and integrity.
  • Risk Mitigation: Financial institutions are particularly vulnerable to reputational risks due to the sensitive nature of their services. Effective online reputation management helps identify and address potential risks, minimizing the impact of negative events such as data breaches or customer complaints.
  • Competitive Advantage: A strong online reputation can differentiate a financial institution from its competitors in a crowded market. Positive reviews, testimonials, and a favorable online presence can attract new clients and retain existing ones.
  • Regulatory Compliance: Compliance with regulatory standards is essential in the financial sector. Online reputation management strategies can ensure that institutions adhere to regulatory requirements regarding transparency, disclosure, and customer protection.
  • Crisis Management: In the event of a crisis or negative publicity, having robust online reputation management strategies in place enables financial institutions to respond promptly, manage the narrative effectively, and mitigate reputational damage.

These benefits will not only benefit your consumers, but they will also affect your bottom line. Creating a consistent brand image and consistently presenting it across all of your platforms can increase revenue by almost 25%! 

Improve Your Financial Services Reputation Management with InMoment

Many of the world’s leading financial institutions already partner with InMoment to help them understand and act on customer feedback. InMoment’s dynamic XI Platform gives brands the ability to engage with their customers across all platforms, make sense of their feedback, and, leverage data to improve their business performance. See for yourself by scheduling a reputation management demo today!

References 

Forrester. Financial Services Firms Need To Learn How To Earn Customers’ Trust. (https://www.forrester.com/blogs/financial-services-firms-need-to-learn-how-to-earn-customers-trust/). Accessed. 3/28/2024. 

Status Labs. 52 Online Reputation Statistics for 2023. (https://statuslabs.com/blog/reputation-management-stats). Accessed 3/28/2024.

REPORT

2024 Financial Services Online Reputation Benchmarks Report

InMoment’s 2024 Financial Services Online Reputation Benchmarks Report provides a top-level view of the state of reviews today for the financial service industry — and how these reviews reflect the experiences financial services consumers want to have. The benchmarks serve as a valuable tool for organizations looking to assess their reputational performance, set goals, make informed decisions, and drive continuous customer experience improvement.

Download Report

Tell us more about yourself so we can tailor your demo for you

Watch The Video – Make Online Reputation Your Acquisition Strategy

97% of consumers scope out online reviews before making a decision – watch this video to see how InMoment’s solution grows your business through online reputation management.

How to Grow Your Business with Reputation Management

Best-in class industry benchmarks to create your reputation management strategy

Unlocking the Power of Healthcare Contact Centers: Enhancing Patient Care in the Digital Age

healthcare contact center

In the dynamic landscape of healthcare, where patient care is paramount, the role of healthcare contact centers has emerged as a vital component in ensuring seamless communication and efficient service delivery. From appointment scheduling to medical inquiries, these centers serve as the frontline of patient engagement, offering a myriad of benefits for both healthcare providers and patients alike.

What is a Healthcare Contact Center?

At its core, a healthcare contact center is a centralized hub equipped with trained personnel and technology to manage inbound and outbound communications related to healthcare services. They are more than call centers, in addition to handling incoming and outgoing calls, they often manage SMS, email, live chat, and even social media messaging. These centers typically handle a wide range of tasks, including appointment scheduling, prescription refills, insurance inquiries, and medical advice, among others.

Why are Healthcare Contact Centers Important?

The importance of healthcare contact centers cannot be overstated in today’s healthcare ecosystem. They serve as the primary point of contact for patients seeking assistance, guidance, or information regarding their health needs. By providing round-the-clock support and personalized care, these centers play a crucial role in enhancing patient experience, improving outcomes, and fostering patient satisfaction. 

Not only do contact centers act as the first point of communication, but they also adopt an omnichannel approach to ensure messaging and experience are consistent. This allows healthcare centers to enhance patient experience, improve care, enhance operational efficiency, and gain deeper insights into patient behaviors and needs. An omnichannel contact center strategy enables the creation of superior patient care by seamlessly integrating various communication channels. 

Why Does Healthcare Need Contact Centers?

In an era marked by digital transformation and evolving patient expectations, healthcare contact centers fill a critical gap by offering accessible, convenient, and efficient communication channels. With the rise of telemedicine and remote care, the demand for remote support services has surged, making healthcare contact centers indispensable for delivering timely and responsive care, irrespective of geographical constraints.

Expand Your Contact Center Strategy

If you operate a contact center, chances are you’re collecting data from various channels like calls, chats, social media, and surveys. However, sorting through this wealth of feedback and analyzing it can be a daunting task, potentially causing you to overlook crucial insights pivotal for business transformation. InMoment’s conversation analytics software offers a solution by expediting the process and delivering enhanced results. From swift resolution of customer issues to optimizing operational efficiency, our software empowers you to achieve better outcomes more efficiently.

What are the Benefits of Contact Centers in Healthcare?

The benefits of healthcare contact centers extend beyond mere convenience. By leveraging advanced technology such as AI-powered chatbots, predictive customer analytics, and telecommunication tools, these centers streamline workflows, reduce wait times, and optimize resource allocation. Moreover, they empower healthcare providers to deliver personalized care, strengthen patient-provider relationships, and drive operational efficiency across the care continuum.

Healthcare contact centers play a crucial role in addressing a variety of challenges and problems within the healthcare industry. Here are some key problems that healthcare contact centers can help solve:

  1. Appointment Scheduling and Coordination: Contact centers streamline the process of scheduling appointments, managing cancellations, and coordinating follow-up visits, reducing wait times and optimizing provider schedules.
  2. Patient Education and Outreach: Contact centers serve as a valuable resource for patient education, providing information on medical conditions, treatment options, preventive care, and wellness initiatives to empower patients to make informed healthcare decisions.
  3. Medical Triage and Advice: Trained professionals in contact centers can conduct medical triage, assess symptoms, and provide timely advice and guidance to patients, helping them determine the appropriate level of care and avoid unnecessary emergency room visits.
  4. Prescription Refills and Medication Management: Contact centers facilitate prescription refills, medication adherence reminders, and medication management services, ensuring that patients have timely access to their medications and understand how to take them properly.
  5. Insurance Navigation and Billing Support: Patients often encounter challenges navigating the complexities of health insurance coverage and understanding medical bills. Contact centers can assist with insurance inquiries, claims processing, and billing support, helping patients resolve issues and maximize their insurance benefits.
  6. Follow-Up Care and Chronic Disease Management: Contact centers play a vital role in facilitating follow-up care for patients with chronic conditions, conducting post-discharge follow-up calls, monitoring patient progress, and providing ongoing support to improve health outcomes and prevent readmissions.
  7. Emergency Response and Crisis Management: During medical emergencies or public health crises, contact centers serve as a central hub for coordinating emergency response efforts, disseminating critical information to the public, and providing reassurance and support to concerned individuals.
  8. Language and Cultural Barriers: Contact centers with multilingual staff and interpretation services help overcome language and cultural barriers, ensuring that patients from diverse backgrounds receive equitable access to healthcare services and information. If you aim to enhance experiences across all interactions, InMoment’s XI Platform offers support for over 41 languages and dialects. This capability empowers you to elevate customer experiences on a global scale.
  9. Remote Monitoring and Telehealth Support: With the rise of telehealth and remote monitoring technologies, contact centers play a key role in facilitating virtual consultations, remote patient monitoring, and telehealth support services, expanding access to care and improving care coordination.
  10. Patient Satisfaction and Experience: By providing responsive, personalized, and compassionate care, contact centers contribute to improved patient satisfaction and experience, fostering trust, loyalty, and positive relationships between patients and healthcare providers.

Overall, healthcare contact centers serve as a critical component of the healthcare ecosystem, addressing a wide range of challenges and enhancing the quality, accessibility, and efficiency of healthcare services for patients and providers alike.

Common Healthcare Contact Centers Trends

As healthcare continues to evolve, several key trends are shaping the future trajectory of contact center optimization:

Digital Transformation: Contact centers are embracing digital channels such as mobile apps, text messaging, and social media to cater to the preferences of tech-savvy patients and enhance accessibility.

Those aiming to elevate their digital transformation journey are embracing integrated customer experiences. By harnessing unstructured data across every touchpoint of the customer journey, they extract invaluable insights to drive the most informed and strategic decisions.

Telehealth Integration: With the rapid expansion of telehealth services, contact centers are increasingly integrating telecommunication tools to facilitate remote consultations, triage patients, and coordinate virtual care delivery.

Data Analytics and Insights: Leveraging big data analytics, contact centers can derive actionable insights into patient needs, preferences, and behaviors, enabling proactive interventions, targeted outreach, and continuous improvement.

AI and Automation: The integration of contact center AI is revolutionizing contact center operations, enabling predictive analytics, intelligent routing, and virtual assistants to enhance efficiency and personalize patient interactions.

Focus on Patient Experience: In an era of consumer-centric healthcare, contact centers are prioritizing patient experience initiatives, such as patient feedback mechanisms, sentiment analysis, and service excellence training, to drive patient satisfaction and loyalty.

What to Look for in a Healthcare Contact Center Software Solution

Selecting the right software solution is crucial for optimizing the performance and effectiveness of a healthcare contact center. Here are some key factors to consider when evaluating healthcare contact center software:

  1. HIPAA Compliance: Given the sensitive nature of healthcare data, it’s essential to choose a software solution that complies with HIPAA regulations to ensure the confidentiality and security of patient information.
  2. Integration Capabilities: Look for a software solution that seamlessly integrates with existing electronic health record (EHR) systems, telehealth platforms, and other essential healthcare applications to facilitate smooth data exchange and workflow automation. To improve customer satisfaction and experience within your contact centers, look for software that offers CX integrations.
  3. Multichannel Communication: Patients expect flexibility in how they communicate with healthcare providers. Ensure that the software supports multiple communication channels, including voice calls, email, SMS, live chat, and social media, to accommodate diverse patient preferences.
  4. Scalability and Flexibility: As your contact center grows and evolves, the software should be able to scale accordingly to accommodate increasing call volumes, additional features, and expanding service offerings. Choose a flexible solution that can adapt to changing needs and requirements.
  5. Advanced Analytics and Reporting: Comprehensive analytics and reporting capabilities are essential for monitoring key performance metrics such as customer experience KPIs, identifying trends, and gaining actionable insights into contact center operations and patient interactions. Look for software that offers robust reporting tools and customizable dashboards.
  6. AI and Automation Features: Leverage the power of artificial intelligence and automation to enhance efficiency and productivity within the contact center. Features such as intelligent call routing, chatbots for initial triage, and predictive analytics can help streamline workflows and improve the overall patient experience.
  7. Comprehensive Training and Support: Choose a software provider that offers comprehensive training resources, ongoing technical support, and dedicated account management to ensure a smooth implementation process and continued success with the software.
  8. Compliance and Security Measures: Beyond HIPAA compliance, consider additional security measures such as data encryption, role-based access controls, and audit trails to safeguard patient information and maintain regulatory compliance.
  9. Customization Options: Every healthcare organization has unique requirements and workflows. Look for a software solution that offers customization options and configurable settings to tailor the platform to your specific needs and preferences.
  10. Vendor Reputation and Reliability: Lastly, evaluate the reputation and track record of the software vendor. Choose a reputable provider with a proven history of delivering reliable, high-quality solutions and excellent customer service.

By carefully considering these factors and conducting thorough research, you can select a healthcare contact center software solution that aligns with your organization’s goals, enhances patient engagement, and improves overall operational efficiency.

Get the Most Out Of Your Healthcare Contact Center Solutions with InMoment

Healthcare contact centers represent a cornerstone of modern healthcare delivery, bridging the gap between patients and providers and driving transformative change in the way healthcare services are accessed and delivered.

Amplify your contact center technology arsenal with InMoment’s conversational analytics software. Our AI-powered technology extracts valuable insights from various channels, such as calls and transcripts, uncovering impactful opportunities and efficiencies. By embracing this innovation, these centers are poised to play an increasingly pivotal role in shaping the future of healthcare.

Learn More

Discover a real-world customer story featuring popular retailer Foot Locker, showcasing how they leveraged InMoment’s conversational analytics software. By tapping into the insights gleaned from call and chat transcripts, Foot Locker identified root causes and issues, gaining a deeper understanding of customer sentiments. The well-known retailer remains No. 4 on Forbes’ most engaged companies list and has an impressive 84.4% OSAT score.

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