Analyzing Customer Feedback and Data for Businesses

Customer feedback is the lifeblood of any successful business, especially in a B2B environment.
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Picture this 👇

A software company collaborates with a large automaker to streamline its supply chain process. The software provider receives a feedback letter from the automaker about glitches in their system that impact efficiency. 

What happens next? 

Ignoring that feedback could damage the relationship with a client. While a proper analysis could lead to product improvement. 

For B2B businesses, the ability to gather feedback, analyze it, and transform it into actionable strategies is crucial. 

Not just for keeping clients happy, but for driving growth. 

In this blog post, you’ll learn how to effectively analyze your customer feedback and turn it into a competitive edge. 

Step 1: Digitizing Feedback

If the feedback that you often get from your clients is in digital form, i.e., emails, messages, etc., then you can skip this step. But if you get data and feedback in the form of printed letters, then you have to digitize them before analysis.  

How to Digitize Feedback?

Digitizing the customer feedback is no longer tedious. Using Image to text converter, i.e., Jpgtotext.com, you can digitize them with ease. Image to text converter is a smart tool that gets images as input and detects text within that image. Once text is extracted, post processing is done and you get error-free extracted text from images. Here’s how you can do that. 

1. Head to an image-to-text converter tool. 
2. Upload the image of the document having feedback. 
3. Click on convert/submit. 
4. Copy/download the text. 

It’s that simple. 

Step 2: Analyze Customer Feedback 

Feedback analysis is where raw data becomes meaningful intelligence. It is the process of identifying:

• Trends 
• Sentiments
• Actionable points 

These points help you in decision-making. But how to perform the feedback analysis? Well, if you want to do that with ease follow the steps below. 

Qualitative Feedback 

Start by analyzing qualitative feedback. Get into how the customer is feeling about your products or services. To do this, consider running the feedback through a sentiment analysis tool like the one by Velaris. It’ll assist you in finding any frustration the feedback is reflecting.  

Quantitative Feedback 

If the feedback that you are getting from customers has numeric or structured data consider running them through visualization tools. They’ll help you in spotting trends much easier. 

For example, you can use Microsoft Power BI to see patterns in customer satisfaction scores or Net Promoter Scores (a metric that is used to measure customer loyalty). 

If you are dealing with multiple feedbacks at a time, try interpreting them using Looker Studio formerly Google Data Studio. It’ll assist you in consolidating multiple feedback channels into a single, interpretable dashboard.  

By doing the above two analyses, you’re not only identifying what customers appreciate but also addressing what frustrates them. 

Turning Analysis into Actionable Strategies 

Analysis alone isn't enough. The magic lies in execution.  You have to bridge the gap between analysis and meaningful action. Here’s how you can do that as a B2B business.  

Step Into Your Customer’s Shoes 

Empathy goes a long way in improving client relationships. If feedback highlights repeated dissatisfaction with project timelines, take corrective actions like revising workflows or enhancing communication frequency. Share these changes with the client, signaling that their input was invaluable in driving improvement. 

Develop Feedback-Informed KPIs 

Metrics ensure your team doesn’t just address issues temporarily but resolves them long-term. For example, if one of the areas of feedback highlights slow ticket resolution, establish a KPI to reduce resolution times to under 24 hours. Track its success over time to show measurable improvement. 

Paint the Future with Data

Feedback is not just about solving problems but also about identifying opportunities. Suppose a client suggests adding automation features to your software suite. This could inspire you to allocate R&D resources for future-forward innovations. 

Bottom Line

Feedback analysis isn’t a one-and-done activity. It’s an ongoing cycle. Regularly review and update your feedback to stay relevant to client needs. Get assistance from tools for feedback analysis. They’ll help you in maintaining a competitive edge.  

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