Maximizing customer experience in the omnichannel era
Uncovering channel-specific insights can ensure a seamless customer journey, as well as driving business improvements that make a difference in EX and...
The Team at CallMiner
December 28, 2023
Understanding how customers use and feel about the products they buy can ultimately allow companies to make more informed decisions about specific products – whether that’s improving existing products or introducing new ones. But uncovering this intelligence is hard. Technologies like artificial intelligence and conversation intelligence, can help uncover insights related to how users experience your products, in turning helping to improve the customer experience (CX).
In this guide, we’ll provide an overview of product intelligence, including how it works, why it’s important, and what to look for in platforms that can help drive product improvement, including:
How your customers experience your product can be a key driver of customer loyalty and satisfaction.— CallMiner, Inc. (@CallMiner) July 31, 2023
Head over to our blog for insights into #productexperience strategies and best practices, including continuous innovation, a seamless customer journey, and more:
Businesses design products around customer needs and wants. Product intelligence helps identify those needs and wants. It also provides insight into how people use the products they buy and how they feel about those products. Product intelligence data comes from customer feedback, like customer reviews, surveys, or interviews.
The data product intelligence provides can be used enterprise-wide. For example, marketers use it to extend the reach of a product to its ideal audience, while designers and engineers use it to improve products or design something new. Product managers also require product intelligence data to guide product improvement.
Product analytics is the driving force behind product intelligence. Tools like customer surveys and data reporting systems become part of product analytics. The insights from product analytics then drive product intelligence, which is the process of improving products for the future.
Both of these processes are intertwined in business intelligence, which incorporates several data points about a company’s entire operations, including marketing, accounting, and product management.
Product intelligence considers both customer-provided feedback and behavioral data to provide insight into how customers use and enjoy a company’s products. Therefore, a comprehensive product intelligence process measures customer pain points, customer happiness or dissatisfaction, and customer engagement using data from multiple sources, including:
For product intelligence to truly do its job, businesses must invest in the necessary tools to gather ample information for informed decisions.
For example, sending an email survey to your subscribers might gather helpful information, but most subscribers will likely never respond, causing you to miss out on the majority of customer experiences. Instead, businesses should have multiple channels to gather customer feedback, including social media, live chats, customer interviews or focus groups, in-app surveys, and more.
Another common challenge businesses face is not having a strong enough team to execute on product intelligence insights. If your analysis systems are sophisticated and thorough, but your product management or marketing team has knowledge gaps, the data probably won’t be used to its full potential.
Like many modern processes, product intelligence relies on technology. A product intelligence platform works in the background to gather and analyze data, report findings, offer competitive insights, and more. Look for the following must-have features in a product intelligence platform:
CallMiner’s conversation intelligence platform delivers superior product intelligence, driving innovation and improvement by analyzing 100% of customer interactions. Companies leverage these insights to inform product decisions and deliver an exceptional product experience.
CallMiner consistently taps into customer conversations via phone, social media, email, live chat, and other contact points to learn how customers really feel about a product. By gathering data from candid conversations, your company benefits from valuable unsolicited feedback that provides deep insights about product shortcomings to remedy or exceptional features to keep improving.
Major tech companies like Apple and Meta use product intelligence throughout their business models. They track how customers use their products and services and gather feedback through in-app surveys to consistently learn what customers need and want.
When used correctly and consistently, product intelligence can improve the product experience. Ultimately, it’s up to a business to use the data they gather from product intelligence properly to drive innovation and create products that customers want, consequently improving customer experience.
Product data is the information that product intelligence gathers, such as data about how a customer uses a product or what features customers use the most and the least. Data analysts transform product data into reports for decision-makers to use as they determine what’s next for a product.