What is Sentiment Analysis? A Guide for Customer Satisfaction

All businesses need loyal customers to scale and sustain, so an overall understanding of the customer perspective is essential for creating a better customer experience (CX) and standing out from competitors. To improve CX, businesses must know about the consequences of their efforts on customer sentiment and identify areas of improvement. A good customer sentiment analysis can also improve operational strategies, employee performance, and productivity.
 

The foremost benefit of understanding customer sentiments is that it lets businesses customize their services to meet customer needs better. Customers who find solutions to their needs become more satisfied and loyal to your business.

Analyzing sentiments and feedback helps your business understand the trend so that it’s always neck to neck with competitors. Careful considerations of customer sentiment analysis help you pinpoint common customer problems so that you can address them on time.

Understanding customers' feelings about any specific interaction, feature, or product will help you to carry out better operational and development planning. In addition, the immediate identification of problems also ensures the smooth flow of all business procedures.

Customer sentiment analysis helps you identify negative sentiments associated with specific interactions/employees. It helps businesses provide the right training to targeted employees, which will enhance their ability to maintain customer relationships more effectively.

Analyzing customer sentiment lets you quickly pinpoint and solve all sorts of concerns related to customers, employees, and service approaches in a short amount of time. It enables you to save time and increase business efficiency, improving sales and customer retention and contributing to a company’s growth.

The customer sentiment score is a metric that measures the average rate of positive or negative customer interactions. Multiple factors, such as the size of the business and its industry niche, can lead to variations in what is considered a good score. In consulting the ideal customer sentiment score is 76 whereas in financial services, it is 73, and for internet software & services, it is 16.

A good customer sentiment score is typically a positive number, representing that customers generally feel satisfied while interacting with your business. It is based on three common types of responses: positive, negative, and neutral. A higher score indicates a more positive sentiment, while a lower score indicates greater customer dissatisfaction.

Measuring customer sentiment regularly will help you identify areas for improvement, address customer concerns timely, and enhance the overall customer experience. Some common approaches to measuring customer sentiment are surveys, questionnaires, and manual sentiment recording after each interaction.

One effective way to measure customer sentiment is by conducting surveys after customer interactions. You can ask callers to answer a few simple survey questions about their experience after the follow-up call or a text message.

Surveys usually take a few minutes for customers to complete, however, gathering the results and analyzing them can consume a lot of time especially if the number of responses is huge.

Questionnaires are another method to measure customer sentiment, and they provide detailed answers. You can create a set of questions that focus on specific aspects of the call, such as the agent’s helpfulness, the speed of service, and overall satisfaction.

The questionnaire links can be sent via text messages or asked during the call. While it may take customers around 10 to 15 minutes to fill it out, using the answers to draw conclusions and actionable insights can be difficult and time-consuming.

Agents can record customer sentiment after each interaction manually based on the customer’s mood and conversation. The agent should distinguish whether the customer seemed satisfied, frustrated, or neutral.

While recording sentiment of each interaction gives more accurate results and is quick for agents to perform, analyzing the results over time can be intensive and may not provide a detailed summary of the interaction.

Although some organizations may find these measures helpful, they are time-consuming and require consistent employee effort. These methods can lead to inconsistencies in data collection and analysis.

Therefore, a automated business phone system could be a better for customer sentiment analysis. It helps you gathering data efficiently and providing real-time insights with less employee interference.

If you own a large business that handles a high volume of calls every day, reviewing each call is almost impossible. Therefore, it is important to use an automated cloud-based phone system for convenience and better time management.

Calilio is a modern cloud-based business phone system that provides real-time customer sentiment analysis after each call automatically. Its sentiment analysis and automatic call summaries can identify call intent and convert each word spoken during the call into text to review the conversation gist.

Calilio allows you to manage multiple client calls at the same time by efficiently transferring them to your employees while using a single business phone number. Its AI-powered call reports help you analyze customer sentiments to identify the caller’s motive and satisfaction level. The feature eliminates the need for in-person surveys or questionnaires.

Calilio goes through the following process for sentiment analysis:
 

1. It reviews the conversation between the agent and the caller and analyzes each word used and gaps.
    
2. Then, it processes the words and their context to analyze the interaction and categorizes sentiments as positive, negative, or neutral.
    
3. It generates clear reports that highlight key sentiments and summarize the conversation, distinguishing whether the caller is a prospect, customer, or a general public curious about your service.
    
4. Using the insights gained from Calilio’s sentiment analysis, you can improve customer service strategies, cold-calling efforts, and product offerings.

To get reliable actionable insights, you need to follow a comparative approach where you compare the report from multiple quarters so that you know if the improvement you made after each quarter has been actually fruitful. Besides, you should also perform a few additional practices and look for recurring mistakes and patterns that can highlight common pain points or areas of satisfaction.
 

• Monitoring customer feedback regularly (monthly/quarterly) to stay updated on sentiment fluctuations.
• Divide sentiment analysis data as per the product or feature the customer was having issues with to identify specific client needs and preferences.
• Use the analytics to decide on the type of caller (prospect/customer) and follow up accordingly to give a personalized service experience.
• Actively engage with customers who provide feedback, showing them that their opinions matter. This will foster a sense of community and familiarity among your customers.

Having low customer sentiment scores can diminish your team members’ energy and discourage you but you need to understand that it can be changed. Maintaining good customer service irrespective of the outcome, good or bad is important for your business’s long-term success.
 
Once you are aware that your customers are not satisfied with your service, you can take the following approaches to improve the sentiment rate.
 

• Make your customers feel heard and valued by actively implementing feedback.
• Respond quickly to resolve issues so that your customers will trust your brand and show professionalism.
• Focus on continuous improvements by enhancing better service, products, and simplified processes.
• Train and equip employees with the necessary skills and knowledge to provide better customer service and handle customers effectively.

Customer sentiment analysis is an invaluable study for any organization however performing them in large customer-centric organizations can be tough. By understanding how customers feel about your brand, products, and services, you can make informed decisions that enhance customer experience, increase loyalty, and contribute to the business growth.

Calilio offers advanced sentiment analysis tools to measure customer emotions and helps you enhance customer satisfaction. Sign up today!

Customer sentiment can be measured through various methods like surveys and questionnaires however nowadays specialized automatic tolls are being used to collect and analyze it. The automatic tools use AI to go through each customer interaction, get insights into customer expectations, and evaluate the quality of service provided throughout the customer journey.

To effectively gather customer sentiment, it’s important to collect feedback from your customers individually. While taking in-person feedback can be time-consuming, you can utilize tools like Calilio for quick and more accurate customer sentiment analysis.

Businesses use customer sentiment indicators to understand how their customers feel about their brand. It identifies customers' reactions as positive, negative, or neutral. The indicator is a straightforward method that also acts as an early warning system, alerting businesses to potential issues and areas for improvement in customer service.

To gather customer sentiment data effectively, you can collect feedback from various channels like calls, SMSes, emails, etc. However, the process will be time-consuming. Instead of relying on this old traditional method of data collection, you can switch to Calilio for automatic data collection, analysis, and actionable insights.