A product experience strategy is a plan for collecting, analyzing, and acting on customer feedback to continually improve product design, functionality, features, marketing, and branding.
What is product experience?
Product experience comprises all the expectations, feelings, impressions, and thoughts a customer has about a product throughout the product lifecycle. The product experience encompasses everything from initial introduction through purchase and use.
What is product intelligence?
Product intelligence is the practice of gathering, analyzing, and extracting insight from data about how customers interact with products. Product intelligence enables product development teams to understand what attracts customers to a product, what they expect from it, why they use it, how they use it, how they feel about it, and where the product meets or fails to meet their expectations. Product intelligence is essential to a product experience strategy, enabling teams to take concrete action to deliver more positive product experiences.
What are the benefits of a product experience strategy?
A product experience strategy focuses the work of designers, engineers, managers, and marketers to make smarter decisions that produce products of exceptional quality. A product experience strategy continually brings the voice of the customer (VoC) into product design and development processes, ensuring that new products and iterations serve the needs of customers more effectively.
What is product experience vs. customer experience?
The customer experience includes product experience but is much broader in scope. While product experience is concerned with how customers perceive a product, the customer experience comprises all the interactions that customers have with a business – from receiving marketing materials and visiting websites to making purchases and contacting customer support.
What are the benefits of a successful product experience strategy?
Positive experiences increase product usage and loyalty, enhance customer loyalty and retention, and generate positive word-of-mouth and net promoter scores. Positive product experiences ultimately lead to higher sales and stronger revenue.
What are the consequences of an ineffective product experience strategy?
Poor product experiences drive customers away from products, turn customers against brands, and generate negative reviews and word-of-mouth.
How do businesses improve product experience?
Collecting accurate, comprehensive customer feedback is the first step to improving product experience. Customer feedback can help businesses understand where products fail to meet customer expectations, and what changes may improve customer’s opinions of a product. Superior feedback can help to identify product flaws and safety concerns, generate ideas for improvement, uncover unexpected ways that customers use a product, and provide a clear picture of competitive advantages and disadvantages.
What’s the most effective way to get feedback on product experience?
Businesses have traditionally relied on methodologies like surveys, focus groups, and user testing to collect feedback on product experience. However, these approaches tend to be extremely limited in scope, ignoring feedback from a vast number of customers. Additionally, techniques like surveys tend to be skewed by respondents who have highly positive or negative opinions about a product. To gain a more comprehensive picture, many businesses are adopting conversation intelligence technology that can automatically capture 100% of conversations with customers across a variety of channels.
How does conversation intelligence work?
Conversation intelligence platforms use natural language processing (NLP), artificial intelligence (AI), and machine learning to automatically capture, analyze, and categorize the thousands of interactions that businesses have with customers every day. Using text analytics and voice analytics software, conversation intelligence can collect and analyze conversations that take place in contact center phone calls, email, chat, SMS text, surveys, social media, websites, and other channels. Conversation intelligence determines both the meaning of a customer’s words and the emotion behind them to reveal deep insight into how customers feel about a company’s products and their experiences with them.
How does CallMiner help improve a product experience strategy?
CallMiner Eureka is the industry’s most comprehensive platform for analyzing omnichannel interactions at scale. With CallMiner, product teams can gain invaluable insight into customers’ wants, needs, expectations, and opinions of product experiences. CallMiner provides real-time insight into customer preferences for product options, new features, and marketing messages as well as customers’ pain points and unmet needs to drive product innovation. Analyzing customer conversations can reveal a clear picture of the competitive landscape, revealing the strength of competitors’ products as well as opportunities to gain competitive advantage. CallMiner can also help surface product safety and quality concerns early, before they become larger issues or turn into a brand crisis.