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Customer feedback is essential for product planning and development. By revealing needs that can be met with a new product or opinions of competitors’ offerings, customer feedback provides businesses with invaluable insight that can optimize product development and innovation.
While the value of feedback is undisputed, capturing customer comments has traditionally been difficult to scale. The most common methods of collecting feedback like surveys have low response rates and typically only reflect the opinions of people who are very happy or unhappy with a product. Approaches like focus groups and user testing produce data based on a very small sample. And while customer conversations with contact center agents can be a gold mine of customer feedback, it’s extremely time-consuming for product teams to listen to and draw intelligence from even a fraction of these conversations.
CallMiner Eureka can help. As the industry’s most comprehensive platform for analyzing omnichannel interactions at scale, Eureka enables product teams to extract insight from 100% of interactions with customers across all channels.
Customer conversations in the contact center can produce a wealth of competitive insight, helping to refine product development strategy and enabling teams to identify opportunities and threats during the product planning and development process. Conversation intelligence technology makes it easy to extract this competitive insight by capturing and analyzing customer interactions that take place via phone, email, chat, SMS, social media, web, surveys, and more.
Conversation intelligence platforms ingest and combine unstructured and structured data to produce actionable insights. Using AI and machine learning technology, conversation intelligence determines the meaning and intent of words as well as the sentiment behind them and the emotion that is driving the speaker’s behavior.
By aggregating and mining these customer conversations for insight, product teams can uncover product risks and threats that may not already be on their radar. They can understand what customers love or hate about a competitor’s latest product launch. And they can provide insights to other departments, leveraging insight to target marketing campaigns, for example.
CallMiner is the global leader in conversation intelligence technology for driving business performance improvement. The CallMiner Eureka platform delivers the intelligence that product planning and development teams need to make better decisions about product investment and design. By providing access to the widest possible sample of customer feedback, our platform serves as an always-on focus group that can transform new product development with critical insights to drive innovation, mitigate risks, and reduce costs.
The CallMiner Eureka conversation intelligence platform provides comprehensive capabilities for infusing the product planning and development process with customer insight. With CallMiner, product teams can:
• Learn what matters most to customers by improving understanding of conversations with root-cause analysis.
• Gain visibility into the product journey and the customer experience at every touchpoint to understand how products may be improved.
• Visualize conversation intelligence data with shareable graphic presentations that allow stakeholders to view the big picture as well as specific details.
• Improve performance of contact center agents by monitoring interactions at scale, identifying performance trends, and targeting behavior for guidance or reinforcement.
• Drive better outcomes of customer conversations with real-time guidance to de-escalate negative conversations and address customer issues that could lead to churn.
• Automatically remove sensitive data from customer conversations to protect privacy and ensure regulatory compliance.
With CallMiner Eureka, companies can rely on better, more comprehensive customer feedback to transform the product planning and development process. Eureka enables product development management teams to:
• Enhance product quality and safety. CallMiner reveals critical details from customer conversations that shed light on product quality and safety issues, providing an early warning system that allows problems to be addressed before they become business emergencies. Customer feedback can also reveal gaps in the customer experience and shortcomings in product that can be improved.
• Drive product innovation. By delivering deeper insight into the customer mindset, CallMiner enables teams to better understand what customers want and how a product may best meet their needs. While customer suggestions can inspire new features, products, and service offerings, CallMiner can also pinpoint the foundational drivers behind those suggestions to uncover adjacent opportunities for innovation.
• Improve competitiveness. By aggregating and analyzing customer comments on social media and ratings and reviews sites, CallMiner can help uncover competitive strengths and weaknesses to drive priorities in product investment.
CallMiner analyzes interactions with customers at the deepest level, interpreting nuance in language and identifying patterns to reveal new areas of opportunity. By connecting the dots between insight and action, CallMiner Eureka helps to optimize and streamline the product planning and development process. It’s no wonder that Eureka is trusted by the world’s leading organizations in industries such as retail, financial services, insurance, travel, healthcare, hospitality, and more.
With CallMiner Eureka, product planning and development teams can achieve critical objectives.
• Faster velocity. Turnkey integrations, packaged content, and self-serve customization deliver faster time to value.
• Greater results. We ensure ROI for our customers through exceptional support services, innovation from a collaborative community, and Playbooks that provide step-by-step guidance for leveraging the Eureka platform.
• Increased flexibility. Our platform is agnostic to the source system that captures data and can be integrated with popular social networking sites and all market-leading systems for email, chat, and call recording.
• Broader scope. CallMiner automatically analyzes the voice of your customers across all communication channels.
Product planning and development encompasses the stages involved in taking a new product from idea to market or reengineering an existing product. Steps in the product planning and development process typically include generating and screening ideas, concepting and testing products, establishing commercial feasibility, moving to production, and commercializing products.
Customer feedback is vital to product planning and development. By helping development teams understand customers’ needs as well as their opinions about existing products, customer feedback can help teams address quality and safety concerns, drive product innovation, and differentiate products from the competition.
Traditional methods for collecting customer feedback are inherently limited to a small sample of customers. By enabling product teams to capture and analyze 100% of customer interactions across all channels, conversation intelligence provides insight based on comprehensive feedback as well as a deeper understanding of customers’ wants, needs, opinions, and behavior.
