The TruVoice platform was created to help capture and present customer insights and coaching intervention analytics in role-based dashboards to help managers monitor, measure and modify strategies and interventions on specific accounts. Specifically, the solution was designed to:

• Pinpoint areas of weakness or opportunity in customer relationships;
• Trigger an alert to the account team that outlines an account’s areas of concern and/or interest; and
• Serve up relevant coaching content.

“With this automated customer feedback and customer success coaching system, each individual account team member will be shown areas for improvement based on what their customers are saying,” said Tim Riesterer, Chief Strategy Officer at Corporate Visions, in a statement. “It’s like a fitness tracker for customer success: Just like a fitness tracker monitors your physical activities, helps you identify areas for improvement and provides personalized recommendations, this system tracks customer experience, uncovers gaps based on customer feedback and offers tailored training to optimize results.”

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The Canvs AI platform is built to unlock critical insights in unstructured feedback from multiple sources, using a combination of patented, natural-language algorithms and a newly released generative AI co-pilot, AI Story Assist, that presents users with an automated narrative about their data. Canvs AI seeks to investigate data with plain-language questions and produce easily understood and quantifiable metrics into emotional reactions.

“Brands are already sitting on a mountain of feedback collected from their survey tools, customer support chats, interview transcripts, reviews and social media,” said Jared Feldman, Canvs AI Founder and CEO, in a statement. “But it’s incredibly inefficient — if not impossible — to generate meaningful insights from it. Canvs allows insights, customer experience and HR leaders to unlock significant business value for their organizations by turbo-charging time-to-insights and empowering empathetic decision-making.” 

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Primary Intelligence has analyzed nearly 100,000 B2B purchase decisions for hundreds of companies in 50 different industries over the past 20 years. Leveraging its experience in behavioral outcomes-based surveying and correlating those inputs to purchase behaviors and decisions, Primary Intelligence provides an intelligent, automated database of customer buying insights.

“The value of win-loss-no decision analysis at scale is that you have continuous, near real-time feedback on a higher percentage of accounts for improved insights and confident strategy adjustments across all of your revenue teams,” said Ken Allred, Founder and CEO at Primary Intelligence, in a statement. “But the biggest breakthrough is having the ongoing rep-by-rep, deal-by-deal intelligence to drive situational training and enablement. This eliminates the bias of reps providing their own feedback or requiring managers to review hundreds of hours of call recordings.”

Additionally, Corporate Visions will now have access to ongoing feedback from thousands of deals and customer engagements across different teams in a variety of industries and geographies. This will provide real-time, real-world customer data that can be used by Corporate Visions’ research and advisory business, B2B DecisionLabs, to continually produce research-backed revenue growth insights.

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In response, buyers are overhauling their decision-making strategies to optimize their software spend. The “2021 B2B Software Behavior Survey” from G2 highlighted the shift to smarter buying decisions when searching for new marketing and sales technology and the impact of third-party software reviews on solution adoption. The report also explored how vendors are renewing their engagement strategies to reach buyers in various stages of their buying journeys.

The research found that 86% of buyers turn to peer-review websites to reach a final verdict, while 70% have implemented a formal review process among organization leaders to vote on individual software purchases or renewals. Interestingly, while only 4% of buyers said they trust the information given to them by sales reps or research firms, 60% felt more confident in the solution they decided on after consulting their coworkers or reading peer reviews. As a result, technology vendors are now leveraging positive reviews and customer stories to build brand reputation and gain buyer trust.

“Companies are making software decisions more quickly than ever by taking their research and evaluation into their own hands,” said Amanda Malko, Chief Marketing Officer of G2, in a statement. “Our data points to the growing consumerization of software buying, with the large majority of companies, including in enterprise, turning to trusted peer reviews to inform their decisions.”

Other standout stats include:

• 83% of respondents required security and privacy assessments before implementing a new solution into their tech stacks;
• 67% of software vendors engage target accounts after they have reached a purchasing decision; 
• 60% of SMBs and enterprise buyers will always consider alternative software when their current subscriptions are up for renewal;
• 55% needed three months or less to decide on which solutions to invest in; and
• 55% believed their technology spending will increase going into 2022.

For more insights into how buyers are making their B2B software purchases, check out the full report.

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The Qualtrics platform provides multiple experience management solutions, designed to improve individual buyer experiences, capture lead data and surface insights to inform future engagement. In January 2021, Qualtrics was spun out of its parent company SAP SE, allowing its customer feedback and experience solutions to stand independently from the other solutions under SAP SE.

Clarabridge’s AI-powered platform combs indirect feedback sources, such as social media accounts, to gather buyer feedback data and surface insights. After its acquisition, Qualtrics will be able to augment its indirect feedback gathering capabilities, allowing the company to determine the intensity of a buyer’s diction and empower users to respond appropriately.

“Customers and employees are sharing feedback about companies everywhere,” said Zig Serafin, Qualtrics’ Chief Executive in an interview with Rueters.com. “They’re doing it on social media; they’re doing it on support calls; they’re doing it on chats; they’re doing it in product reviews — everywhere. What the acquisition of Clarabridge does is take the category that we’ve been building to the next level.”

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Happy customers are loyal, and recurring customers save companies money on new lead generation. Customers can also operate as a cost-efficient source of new leads, serving as inadvertent brand ambassadors if they share rave reviews with others in their network.

Gathering and analyzing customer feedback to ensure end users are satisfied is critical to business success. Positive comments can reaffirm a company’s success, while negative reviews can help companies identify areas in need of improvement.

This data can improve overall offerings, giving companies a competitive edge. Here’s how to make the most of it.

Customer Feedback: The No. 1 Weapon

Knowledge is power, and this is especially true when it comes to meeting customers’ unique needs. With detailed feedback from real-world clientele, companies can:

• Monitor ongoing customer satisfaction levels;
• Gain insight into customers’ unique needs;
• Improve product or service offerings; and
• Show customers care and avoid alienating them.

All of this can add up to greater customer satisfaction, which helps win over new customers — possibly even taking them from the competition. Companies can also nurture loyalty among existing clients, as satisfied consumers won’t be tempted to look for competitors’ solutions.

4 Ways Customer Feedback Can Help Beat The Competition

Here’s how companies can use customer feedback to gain a competitive advantage in the modern business landscape:

1. Understanding & Meeting Customers’ Needs

Keeping clients happy means understanding their wants and needs, which requires detailed and specific data. Leaders don’t simply want to know whether a customer is satisfied or not; they want to know what stood out in the customer journey.

For example, consumers might be happy with a product but turned off by a negative customer service experience. Important customer success metrics could include wait time to have an issue resolved and support method versatility (or lack thereof).

Many businesses are quick to assume that dissatisfied consumers mean a problem with the product or service. The issue may be a much easier fix, like tweaking an ad campaign or updating a chat bot.

2. Gaining Customer Insights Into Employee Performance For Superior Service

Customer feedback helps monitor employee performance, especially for those who deal directly with clients. For example, when offering in-house telephone support, companies should ensure that workers are dealing with callers courteously and professionally.

A simple training and feedback loop for customer-facing teams can significantly impact business success. In the case of a call center, the process might involve recording calls, reviewing positives and negatives and using that data to inform coaching and future training.

Many consumers will switch to a different provider after a bad service experience, so this added step toward accountability can improve the overall customer service experience.

3. Gathering Competitive Intelligence To Assess Advantage

Companies shouldn’t just look at customer feedback — they should also consider the feedback consumers are leaving competitors. Organizations should scour the internet for reviews in public forums to see how their products and services compare to those of the competition.

Further, companies should ensure they’re meeting the benchmark set forth by others in the same field. For example, it might seem reasonable for 80% of clients to be satisfied, but what if the industry standard is 95%?

Reading competitor reviews can also help identify their weaknesses — if clients complain about a rival’s lack of telephone support, organizations can highlight this as a value-added proposition (if provided with confidence).

4. Avoiding Reputational Damage & Losing Clients To The Competition

Not all customer feedback is positive — that’s normal. If a customer isn’t happy with a company, be it the product or the consumer experience, find out why. There is opportunity for improvement while avoiding similar scenarios with future consumers.

Additionally, targeting negative customer feedback allows companies to fix the situation. Let’s say a person purchases a product, discovers it’s defective and then writes a scathing complaint. Organizations can remediate the issue and, if the client is satisfied with the response, they likely will continue with the business relationship. It’s about turning a negative into a win.

Elevating the consumer experience is becoming even more critical in the wake of Covid-19. The most successful companies in the crisis were those that were able to identify and adapt to consumer behaviors, needs and experiences. That kind of flexibility requires granular, real-world data — which is where customer feedback comes into play.

Christopher Daniels is the Chief Revenue Officer for Televerde, an integrated sales and marketing technology organization based in Phoenix. Seven of Televerde’s 10 engagement centers are staffed by incarcerated women, representing 70% of the company’s 600+ global workforce.

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Today, SurveyMonkey’s parent company, SVMK Inc., announced it has relaunched as Momentive, defining itself as an agile experience management company focused on helping customers shape what’s next.

Developed using the company’s own feedback solutions and market, employee and customer research, Momentive focuses on three core principles that define the company’s solutions. According to the company, the principles are: 

• Speed and agility: “Customers at all levels of expertise can get insights in hours or days, not weeks or months;”

• AI, redefined: “Momentive brings together the best of technology and humanity to envision more authentic and agile types of artificial intelligence. Automated insights, including industry-leading sentiment and text analysis, help customers make sense of their data and act with confidence. In a world in which AI is increasingly problematic, Momentive seeks to be a leader in AI built by a diverse community of experts;” and

• Amplified voices: “Momentive products are designed to understand people’s perspectives, embrace new ideas, advance equality and push for equity in both business and society.”

Momentive will operate under the name Momentive Global Inc. beginning on June 15, 2021, while SurveyMonkey Inc., will operate under Momentive Inc. starting July 21, 2021. The Momentive product portfolio will include GetFeedback, SurveyMonkey and SurveyMonkey Market Research Solutions.

“We changed the game 20 years ago by creating the survey software category, and we’re proud of how we’ve scaled our offerings, our customer base and our ambitions,” said CEO Zander Lurie in a statement. “If the last year has taught us anything, it’s the critical role that listening plays in organizational decision-making. Companies need agile software to better understand their stakeholders and quickly make the calls that shape better experiences for all. Momentive leverages world-class technology in all of our solution categories, and we put people at the center in the way we design our products, serve our customers and deliver for our community and shareholders.”

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The Alida CXM platform leverages data from Alida Touchpoint and Sparq to help marketers looking to elevate and manage their customers’ experiences through customer feedback, uncovering deep insights for customer-facing teams to manage and monitor their customers’ experiences.

The platform also integrates with other parts of the Alida platform, including:

• Alida Surveys, a solution that captures broad feedback globally, allowing marketers to manage their customer experiences at scale;
• A Case Management solution designed to automatically create and integrate cases in other CRMs; and
• Rule Engine, a solution that triggers automatic actions for prompt responses from customer representatives.

“Alida has differentiated itself in an over-saturated market, not only through its new brand, but also with a platform transformation that connects broad customer feedback with targeted deep insights to turn the voice of customers into unique experiences,” said Alan Webber, VP of CXM Strategies at IDC, in a statement. “Companies that want to deepen relationships and improve experiences with their customers need a contextual understanding of why customers feel the way they do so that they can instantly act to optimize customer experiences. Alida has built an end-to-end solution to help brands do just that.”

The Alida CXM platform is set to launch on Oct. 20, 2020. The release will also include Alida Analytics, a new solution designed to provide users with dynamic case management and NPS dashboards, summarizing profile variable data for visual insights.

“It is important, but not enough, to capture insights about your customers,” said Riaz Raihan, President of Products at Alida, in a statement. “Brands must take uncovered customer truths and put them into action to build meaningful relationships. With Alida CXM, our customers can unlock meaningful insights from their customers and manage, monitor and optimize millions of customer experiences.”

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The report, titled: CX In The New Normal: Why Agility and Collaboration Are Key To Success In 2021, shows how companies who prioritize CX throughout the pandemic are positioned for long-term revenue growth. The report highlights how internal collaboration and being adaptable has helped companies experience revenue growth.

“Customer retention is the focus for many companies in 2020, but companies that are slow to act are being left behind,” said Christine Rimer, VP of Customer Experience and Advocacy at SurveyMonkey, in a statement. “This research uncovers important areas in which CX programs need to improve in order to achieve a greater ROI in a time of need. It is crucial for the entire organization to adopt a customer-first attitude that is supported with actionable customer and operational data.”

The 1,777 CX professionals who participated in the research spoke to the importance of having agile CX initiatives, as 51% of successful B2B companies have been able to adapt to varying customer needs quickly and generate better ROI.Fifty-four percent of professionals also have seen an increased focus on CX programs from their C-suite executives since the beginning of the pandemic, leading to the current prominence of CX.

Other key takeaways from the report include:

• 80% of organizations have seen an increase in online interactions since the beginning of the pandemic, and 60% have added new customer touchpoints to meet the demand;
• Respondents who focus on collaborative CX insights are 67% more likely to experience financial growth;
• 62% of C-level executives have cited significant CX collaboration across teams;
• 49% of respondents cite agile and adaptable CX programs as a major sign of company slow-down;
• Companies with advanced CX programs have experienced financial growth (62%), while companies with no established CX programs experienced the lowest growth (33%); and
• Companies that experienced “very high” ROI during the pandemic are 3X more likely to cite CX programs as the reason.

For more information on the current trends in CX marketing, check out the full report here.

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With GetFeedback, SurveyMonkey is positioned to offer a new customer experience solution within the Salesforce ecosystem, designed to combine customer data and feedback data to make collection of customer feedback easier and help build better customer experiences.

Other features include:

• Mobile-friendly surveys;
• Omnichannel distribution of surveys for feedback via SMS, chat, email or communities; and
• Insights and analytics via personalized reporting dashboards.

GetFeedback offers features such as Actions, which allows customers to surface time-sensitive customer feedback and take action based on operational data within Salesforce, to help enhance the customer experience. Current customers include Cisco, 3M and Salesforce.

“SurveyMonkey and GetFeedback share a differentiated view on how to help our enterprise customers use data to drive growth and innovation,” said Leela Srinivasan, CMO of SurveyMonkey, in a statement to Demand Gen Report. “Our integrations bring customer feedback data directly into existing systems of record so organizations can combine data in meaningful ways and act quickly within world-class platforms like Salesforce, Microsoft, Tableau and others. GetFeedback is deeply embedded within Salesforce and will help us accelerate our integration strategy and sell to enterprise organizations.”

More than 60 GetFeedback employees will join the SurveyMonkey team.

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