What is Customer Feedback Analysis?

by David Hunt Data Geek and Analytics Fanatic

What is Customer Feedback Analysis?

Customer feedback analysis is an integral part of the customer analytics model. It is analysing the customer’s feedback through a variety of mediums such as survey etc. and going a step further to dig insights about the marketing that led to that experience.

Customer feedback analysis happens on both a micro and macro scale. On a macro level, teams need to analyse individual pieces of incoming customer feedback and determine their category or tag. The data then is analysed again to discover insights about a company’s marketing strategies.

Customer feedback analysis starts with tagging a survey response or review with the first appropriate tag in the list. There might be more than one tag you can use. After all the customer feedback is correctly tagged, the second stage of analysis can begin. An overall view of what all this freshly tagged customer feedback is trying to tell you and your business, otherwise known as insights.

Importance of customer feedback analysis

It is not only important to have customer feedback, but to have key take away for your business after analysis the customer feedback. Considering the vast amounts of feedback organizations receive every day, they often find themselves overwhelmed with information and struggling to transform it into actionable insights because they don’t have the tools or the right people to turn their data into actionable insights. In other words, they’re ‘data rich but insights poor’.

But why go to the trouble of sorting through customer feedback and analysing it? The simple answer is, to understand your customer. If they’re talking about you and your competitors constantly, you’ll need to stay on top of these conversations because their opinions can help ensure that your end product or service will actually meet their expectations, solve their problems and fulfill their needs. Tagging feedback also helps every team, from customer support to product development, make more informed decisions. So instead of second-guessing what might frustrate or satisfy customers, you can support or dismiss theories based on cold hard facts.

So, it’s clear that by listening to your customers and using the information that’s right in front, you can gain valuable data insights that will help your business grow.

There are three types of actionable insights you can get from customer feedback analysis:

Insights that lead to critical thinking and action

Insights that lead to validation and don’t require action

Insights that help you rethink your strategy