June 2, 20153 min read
More than ever, today’s brands are defined by what their customers say about them to their friends, family, and peers. The proof is in the numbers: 95% of dissatisfied customers tell others about their bad experience, and customers who encounter positive social customer care experiences are nearly three times more likely to recommend a brand.
Increasingly, those word-of-mouth experiences are coming online to social media, where they have the potential to grow exponentially – for better or worse. A recent Zendesk study found that 45% of people share bad customer service experiences via social, compared to just 30% for good customer service experiences. A deep understanding of the tone and emotions behind the conversations taking place about your brand online is critical to guiding these conversations in a positive direction and responding to customers in a more meaningful way.
But when much of the data behind those texts is unstructured, assessing the true context, impact, and meaning of those conversations can be challenging, if not impossible.
That’s why Sprinklr has acquired NewBrand, a leading location-specific text analytics software company. Integration of NewBrand’s sophisticated text analytics into the Sprinklr platform will give clients new contextual insights and predictive analytics they can act upon to create even more valuable experiences for their customers.
The NewBrand platform captures customer experience data at the point that it occurs – in a specific brick and mortar location, or for a specific product or SKU. This means than when a customer walks out of a business and tweets or posts a review about their experience, NewBrand collects the data, assigns it to the location relevant to the brand, and proceeds to break it down into key themes, attributes, categories, and sentiment. This allows brands to look across different geographies and locations to understand the nuanced differences in customer perception.
A recent Forrester study found that, on average, enterprises leverage about 35% of their structured data for insights and decision-making, but only 25% of their unstructured enterprise data. Now, with NewBrand at Sprinklr’s side, we are empowered to help brands address the immense challenge of understanding customer intent from the huge quantities of unstructured data and act on it quickly so they can optimize customer experiences, increase brand loyalty, and take more market share.
In addition to benefiting from more sophisticated data analytics, brands will also have the ability to act within one comprehensive social operating system that’s seamlessly integrated across all customer-facing departments.
Each new member of the Sprinklr family helps us provide a unified view of the customer to global brands by bridging the gap between first-party brand-hosted sites and third-party social media sites. Our strategic acquisitions over the last year-and-a-half signify the architectural expansion necessary to serve companies who place customer experience at the heart of their enterprise. NewBrand adds to that equation.