By Joel Sylvester, Chief Client Officer, Five Star Call Centers
Sentiment analysis studies the words verbalized or written by a person to glean their emotional feeling about a product, service, or experience. From a business perspective, knowing how a customer feels about a product, customer service exchange, and overall interaction with a brand can lead to significant returns.
A study by Deloitte revealed consumers are willing to spend 140% more after receiving a positive experience. So, a robust sentiment analysis program is paramount for companies looking to enhance customer service and boost revenue.
If you want to tap into this profit-boosting feature, partnering with a call center is an affordable and results-driven option.
What is Call Center Sentiment Analysis?
Call center sentiment analysis differs from customer satisfaction, but is still critical in gauging client attitudes toward your brand.
Customer satisfaction is an overarching evaluation of a consumer’s history with the business. Satisfaction rates are often communicated via data points. For example, faster ticket resolution times can equal higher client satisfaction points.
On the other hand, sentiment analysis provides a glimpse into the emotional response to a brand by marking the customers’ experience in the moment as positive, negative, or neutral. For example, if a client messages a company with the statement, ”I still am waiting for help,” it is marked as a negative experience.
To summarize, a positive satisfaction record showcases that a product works or is well received. A favorable sentiment is more akin to a brand the client can’t live without.
How Does it Work?
Sentiment analysis scans text from myriad communication platforms, including social media, chatbots, and transcribed phone interactions. AI-based algorithms evaluate the text and assign an emotional sentiment to each one.
Examining consumer sentiment provides key customer experience metrics that can highlight how clients feel about interactions with your brand. Knowing the various types of sentiment analysis can further enhance your understanding of client habits.
3 Main Types of Analysis
1) Sentiment Over Time
This measures sentiment over short or long time periods. For example, how long is a customer willing to wait for an answer before leaving a chat channel? How do customer service agents succeed during client communication? When do they struggle?
2) Sentiment According to Channel
To what communication channels do customers respond favorably? Do they have different emotional responses depending on the channel?
3) Sentiment by Element
Customers can have complex reactions to an experience. For example, a client might say, “The customer service agent was helpful, but the wait time to speak to someone was too long.” On the one hand, there is a positive sentiment, and on the other, a negative. Knowing both provides robust insight into brand interactions.
Why is Evaluating Customer Sentiment Essential for Your Business?
How customers feel about a service or brand provides important feedback that can help a business thrive. Paying attention to any ebbs and flows in customer sentiment gives companies a comprehensive picture of their brand’s positive and negative aspects and reveals recurring themes. Having this information is mission-critical for any industry.
Studies estimate that by 2025, 80% of data collected will be unstructured, so investing in a robust sentiment collection campaign now can help businesses monitor and adjust to client needs as they develop over the years.
Call Centers Provide Next-Level Services & Data
Call centers offer the tech, tools, and know-how to provide their partners with crucial sentiment data. Call center service solutions mine data received, isolate critical information, and generate necessary reports to inform business strategies.
Here are just a few ways your company can benefit from call centers:
Reduced Customer Churn
A recent study from the CRM Impact Report identified 58% of organizations saw an elevated churn rate over 12 months. The same report indicated 81% of marketing managers felt that churn rates stem from a need for meaningful customer communications and extraneous messaging.
Call centers use state-of-the-art KPI analytic tools to extract relevant data across communication channels to show the big picture of customer sentiment. Identifying users’ emotions quickly lets companies decide on customer service enhancement pivots.
Based on data from McKinsey & Company, 71% of consumers accept personalized experiences when communicating with a brand. 76% react negatively when they cannot access that type of service.
Call center sentiment analysis relies on enhanced software to track transaction habits, expectations, and previous reactions. This helps companies offer more personalized services to their consumers.
We invite you to read our case study of a leading medical technology client. Our services and tailored solutions resulted in a 30% savings in call center expenses and much more.
Award-Winning & Affordable Nearshore Call Center Services
At Five Star Call Centers, our agents are experts in their fields, dedicated to delivering next-level care. Our proprietary software, in-house IT teams, and advanced data collection systems can enhance your customer care.
Connect with us today and let us develop a customized solution for your company’s needs.