Social Feedback – Cutting Through the Noise
Social Media has redefined the opportunity for customer insight. Almost 50% of all online consumers are regular social media users. The scale is staggering with Facebook alone having over 800 Million Active Users.
Consumers are increasingly using Social Media to give their opinions on products and services, unfortunately companies are not engaging with these consumers with 95% of posts on Facebook brand pages going unanswered. Comments range from customers commenting on good experiences to people venting their frustrations on bad experiences.
The two main challenges of managing social media feedback are:
Where to look?
There are a large number of social media outlets available today from the best known such as Facebook and Twitter to lesser known sites such as Quora.com (an online questions and answer service) and Ning.com (a custom social network platform).
In order to gain the most valuable feedback companies need to ensure they are monitoring the feedback from the sites and conversations which are relevant to their industry and customers.
Who to prioritise and how?
Social Media Data is defined by its scale. For example: 140 million Tweets are sent every single day. Most of this data while interesting is not always useful, as a result it is essential that there is a mechanism to prioritise the social media data to identify the feedback which is most pressing and actionable.
Text Analytics can allow companies to identify customer sentiments, potential risks, and overall trends by analysing raw data outputted from social media sites. Combine this with Sentiment analysis and companies can prioritise the feedback they wish to action. The key for companies is to define their criteria for responding to feedback, whether they want to focus on trends, known issues or respond to consumers individually.