When asked about the importance of Customer Experience Management sector (CEM) in the 21st-century business world, Narjès Boufaden, the Founder and CEO of Keatext, explains—“Customer Experience is the new competitive edge for businesses thriving for sustainable growth.” Further, she states—“As industries mature, it is becoming increasingly difficult for businesses to make a difference just focusing their efforts on product development and innovation. Therefore, personalisation and outstanding customer relationships are becoming determining factors while gaining customers’ loyalty.”
By 2010, the CEM sector had gained the interest of market researchers and analysts. To elaborate this, Narjès shares some recent stats. In 2014, the CAGR for 2017 was estimated at nearly 20%. In 2018, the CAGR was more around 23% and it is projected to stay that way until 2024. Moreover, she adds—“With the popularization of new communication channels like chatbots or live chats, we can expect the development of more new products and services around these new technologies to leverage customer insights and improve customer experience.”
Helping Businesses to Transform Unstructured Data into Actionable Insights
Most of the CEM platforms have traditionally focused on managing customer data and reporting insights from structured customer data. Such data includes customer touch points, revenues generated by customer etc. However, surveys show that inadequate efforts have been made towards drawing actionable insights from unstructured data like comments, reviews, and open-ended questions. These reasons have stipulated a need for advanced text analytics technology to process that type of data.
Keatext is among the very first businesses that dedicated its technological expertise in AI and deep learning to solve the specific problem of transforming unstructured customer feedback into a knowledge base suitable for querying, reporting, and predicting new insights based on customers’ opinions, reasons, and motivations.
Using advanced text analytics technology, Keatext helps businesses to be proactive in managing customer experience by revealing blind spots and detecting negative or positive trends exhibited by the customers’ behaviors. It follows a mission to help businesses cultivate meaningful relationships with their customers and employees by providing them with instant clarity on what they care about most, and by increasing their ability to respond rapidly to their needs.
Keatext AI-Powered Text Analytics Platform
Designed to minimize response time Keatext AI-powered platform is a cloud-based opinion-analysis engine that utilizes deep learning to transform customer feedback into an ever growing knowledge base that captures customer behaviors, wants and needs. This platform synthesizes bulk volumes of feedback from multiple channels like open-survey questions, support tickets, chats, online reviews, and social network posts to produce actionable insights. Importantly, Keatex platform does not require any setup. Its output is delivered on one comprehensive dashboard. Moreover, it features multilingual analysis and context-sensitive, industry-agnostic understanding, as well as automatic visualization of correlations and trends with report-sharing capabilities.
To match customers’ needs, Keatext offers a variety of services and packages. As Narjès explains—“Its self-serve package includes access to the AI-powered platform on a monthly basis. It allows businesses with data analysis expertise to do the analysis of customer feedback on their own and creates reports on customer behavior trends and issues that need immediate attention to improve customer loyalty.”
Keatext’s best seller expert services package is meant to provide a turnkey offer that matches the need of businesses with needs in data scientist expertise. Narjès adds—“This package also comes with premium services including external data sourcing, such as feedback on the brand (or its competition) from review platforms. Additionally, this comprehensive package provides a complete monthly overview of customer feedback from internal and external data sources and a systematic benchmarking of the business against its competition.”
Maximizing Customer ROI with Key Strategies
As Narjes points out—“Keatext’s strategies to maximize ROI for its customers revolve around two dimensions: assist businesses in making educated decisions based on data and feedback, and benchmarking and prioritizing decisions by knowing their competitive landscape.” Firstly, the platform makes unstructured data actionable and provides insights that can lead to improved satisfaction ratings and customer retention, upgraded products and services, and increased sales.
“Keatext also helps to compare data such as purchase information or customer touch points with insights from customers’ feedback, providing an accurate picture of customer behavior by segment. This, in turn, helps businesses understand the reasons that could trigger negative trends, which could eventually lead to disengagement and churn.”—Narjes specifies.
Secondly, Keatext allows businesses to benchmark their customer experience against the competition and prioritize efforts in a strategic way, considering what the competition does. “By comparing their customers’ feedback against the competition’s customer feedback, businesses can have a better idea of their performance in the market.”—Narjes adds.
Additionally, Keatext is currently working on strategic updates to its platform capabilities to predict customer disengagement and recommend action items to prevent it. These updates will help businesses become more proactive and will position them a step closer to real personalized CX management.
CEO, Leading Keatext Vision with Extensive Technical Experience
As the Founder and CEO, Narjès looks after the achievement of Keatext’s vision by providing the means to make it happen, gathering the brightest people in the team, assuring funds to execute that vision and ensuring that along every step of the way, the company growth brings more value to the customers. She believes—“Every responsibility comes with challenges and work that generate different levels of excitement.” As a technical CEO with extensive experience in machine learning applied to Natural Language Understanding, she particularly appreciates Keatext customers for their trust on its innovation capabilities and the value Narjès and her team provide to their businesses.
Further, Narjès shares her opinion on starting a business in the current CEM space. According to her—“The CEM space is becoming more and more crowded and to start a business in this sector, the assessment of the competitive landscape must be the first step.” She also adds—“Assessment from both viewpoints, a business i.e. problems that have been addressed so far and a technical standpoint is crucial.”
Finally, speaking about the better utilization of customer data, Narjès says—“Big companies with a focus on latest scientific and technological advancements tend to be more agile and faster to develop new capabilities. However, I think that there is still room in these companies to improve the way they leverage customer data to produce business insights.”