Voice of the customer data to offer retailers deep insights into customer behavior and preferences, finds Frost & Sullivan

With the world pivoting to digital, the retail industry has had to completely reimagine the way it engages with customers. The new way of doing business has caused large-scale disruptions in the role of digital media, customer behavior, payment methods, and data management. Retailers must leverage the wealth of customer-generated data to keep pace with the constantly changing customer requirements and remain a step ahead of the demand curve. Forward-looking retailers are already establishing a complete ecosystem to collect, process, and transform data into actionable insights. Frost & Sullivan’s latest white paper, Elevating the Customer Journey in the Retail Industry, explores how voice of the customer analytics can help retailers enhance digital experiences for customers.

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“Retailers need to target customers with hyper-relevant content to foster meaningful, long-lasting connections with the brand,” said Alpa Shah, ICT | Global VP of Customer Experience at Frost & Sullivan. “With the right technology, they can gain insights into what works and what does not in their internal and customer-facing operations. The first step is to ensure that customers have an easy way to provide that input. An investment in voice of the customer analytics enables retailers to immediately hear positive and negative experiences, understand behaviors, and predict actions in each channel of interaction.”

“HappyOrNot provides an advanced, data-driven, voice of the customer solution to monitor in-store and online shopping experiences and take immediate action on the feedback insights received,” noted Miika Mäkitalo, CEO ofHappyOrNot. “Our solution includes in-store terminals and online pop-up surveys to capture the customer experience. It provides retail customers with all the reporting tools needed to obtain, analyze, and use customer feedback to make lasting changes.”

Retailers can leverage voice of the customer analytics to:

• Obtain actionable insights into customer behavior to improve sales opportunities and customer loyalty.
• Immediately boost customer satisfaction ratings.
• Turn instant satisfaction ratings into a longer-term strategy for emotional engagement. An engaged and highly satisfied customer is far more likely to be a repeat customer.
• Create a fundamental shift from transactional to transformative interactions to build brand connections.
• Personalize content, offers, and experiences to match the preferences of each customer.

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