Decoding Customer Voice with Topic Tagging & Sentiment Analysis

Understanding the behaviour and sentiments of any customer is the key to making a company or an industry grow to its fullest. Analysing whether the customer likes their product and services is essential for a company to improve itself. But do the customers say directly that they don't like the company, or do they say indirectly? What if they indicate their feelings and sentiments directly? Then, what are the methods to become aware of what they say? If you have all these doubts, don't worry; this article will help you solve your issue and inform you of various aspects of decoding customer voice.  

What do you mean by decoding customer voice?

Decoding customer sentiments means understanding customers' emotions and feelings about the products, brands, and services. Decoding the voice involves analysing all the data, such as feedback forms, reviews on the website, or interactions on social media, so that the overall tone of all the customers can be understood. Deciphering only an individual's positive or neutral perspective doesn't fall under this process; thus, it is crucial to comprehend the negative perspective of the buyers as well. 

What is the importance of decoding customer voice?

Grasping and examining consumer feedback data is crucial for any company aiming for success and expansion. By actively responding to this feedback, businesses can discover important insights that inform their strategies and choices. Specifically, leveraging consumer opinions can lead to several key benefits:  

• Gain insight into the customer's viewpoint—According to a popular Japanese custom, there is a cultural idiom: "Customer is god." It indicates the importance of customers in the business world. Customers feel highly valued when others have deciphered their insights, and the other reacts accordingly. Thus, you must gain insights into the customer's viewpoint to make them feel honoured and essential. 
   
• To maintain brand reputation, Customers highly value a company that understands their emotions and tries to improve its shortcomings. Thus, they can improve by understanding the context they want to deliver. By enhancing small things at a time, a company can grow big and maintain its brand reputation.  
   
• Improve the customer experience—When an establishment comprehends and works according to the purchaser's preferences, whether positive or negative, it is more likely that the establishment improves the customer experience. Moreover, if the business tailors its techniques to interact, message, and better align with the customers, the experience may be enhanced for customers. 
   
• Attract customers increasingly—If a person feels that their feedback has some value for the other and works according to their suggestions, they may think that the company will satisfy their full needs at some point, which may attract customers to that particular company. Thus, acknowledging the feedback will help increase the footfall of customers to a specific business, making it grow quickly.   

What are the different ways of decoding customer voice?

You have now understood the importance of understanding customers' feedback. But how can you do so? Well, there are a few established techniques which you can use. However, the following section will deal with only two techniques that can be seen as follows: 

Topic Tagging

• About Topic Tagging- Topic tagging is an innovative AI-driven tool designed to assist you in organising and categorising related reviews. Identifying similarities and themes within the reviews transforms a vast array of feedback into a more comprehensible format. This functionality simplifies the review analysis process and enhances your ability to draw meaningful insights and make informed decisions based on collective feedback. 
   
• Process of its working—The tool used for topic tagging works by requiring all the reviews, surveys, and feedback to go through a powerful AI analytics layer. Then, the AI scans all the content using Natural Language Processing. Afterwards, it identifies all the relevant topics and categorises these reviews as negative, neutral, or positive. Hence, with this method, you are provided with a systematically analysed set of different reviews and offered a clear picture of topics highly discussed by the consumers. 
   
• Its importance—Topic tagging helps you categorise various reviews, making it easy to read every review, which might be difficult otherwise. With this tool, you can smoothly comprehend your customers' high-level views and learn about specific topics, including those regarding your staff or maintenance, at the top, which are of high concern for the consumers. Moreover, by working according to the feedback, you can catch the problem at an early stage and make a significant impact on all the users. 
   
• Its impact on the market- Apart from improving your company's image and footfall, topic tagging also significantly impacts the market. With this method, you can grasp early knowledge of the shifting trends among people, transform yourself according to society, and get ahead of any issue. Additionally, you can tailor your brand according to the trend in society, putting you ahead of others.  

Sentiment Analysis

• About sentiment analysis—To apprehend the tone of one's review, email, social media text, or customer support chat transcription, the company has done sentiment analysis. With this method, corporations get the final tone of the reviewers, whether positive, neutral, or negative, and their attitude toward a specific issue. Corporations use this analysis to improve customer service and facilities and enhance their market reputation.  

• Its working process—Sentimental analysis is an application that trains software using natural language processing to understand text like humans do. To make sentimental analysis work, the application first identifies all the keywords from the text to highlight the core message. Thereafter, the technology works more and analyses the keywords that have been extracted previously and gives them a sentiment score, a scale that indicates the emotional sentiments of the writer. 
   
• Its importance—Sentimental analysis is an essential tool for corporations, as it helps them improve their services and products. The tool will enable companies to eradicate personal sentiments using AI and thus help them analyse the overall customer opinion. Hence, the companies are left with genuine and specific consumer feedback. Moreover, with the help of this tool, companies can uncover the real emotions of the consumers, and that is at an affordable cost.  
   
• Its market impact—Sentiment analysis helps the market by significantly impacting the investor's decision and market behaviour. It analyses the mood and attitude expressed in the data, which helps businesses understand the market's common sentiments. Furthermore, it allows the corporation to identify the potential opportunities of the market and thus assists them in making a more informed investment choice. This ultimately leads to refining the overall product and the company's service using this technology.  

Conclusion: Which Method to Use?

Both techniques, topic tagging and sentiment analysis, use natural language processing to decode the consumer's view. However, their focuses are entirely different. Where topic tagging helps to identify the text's central theme, sentiment analysis helps to determine the emotions one expresses through their text. So, ask which method to use while deciphering an individual's emotions. In that case, it is advised to use both techniques together to gain a more comprehensive understanding of a writer's view. As the former method assists you in marking the topic according to its central idea, with the latter method, you can analyse the main context that one wants to imply. Thus, you can work precisely according to the market trend.