Leveraging Text Analytics to Enhance Marketing Insights From Digital Customer Experiences

Introduction

Individuals locked in their homes with the Covid pandemic have turned to online shopping with the development of internet technologies. This increase in online shopping has increased the need for businesses to establish and develop digital relationships with their customers, necessitating some transformations in their websites (Al-Hattami, 2021). One of these transformations is customer experience, which enables the customer to create a positive impression of both the purchasing process and the brand. The customer experience created in this way turns into a shareable value. For today's businesses, trust in customer experience has become much more important than serving the customer. This situation makes it difficult for companies that strive to provide customer experience to take advantage of all opportunities as much as possible and ensure the balance between the experiences they aim to offer and their business capacities (Sianipar et al., 2023). As it is known, capturing the most loyal customers means providing the best customer experience and improving this experience every day. At this point, customers' opinions on experiences and their comments on businesses are seen as powerful data sources that can contribute to developing experiences that will be customized for them (Kpiebaareh et al., 2022).

The efforts of companies to create customer experience and the intense demand of customers for experience have led to the formation of a vibrant market. This market, referred to as the customer experience management market, is worth USD 11.4 billion as of 2023 (Customer Experience Management Market, 2023). This figure is predicted to increase by an average of 12.2% annually by 2024 and reach USD 20.4 billion by 2028 (Superoffice, 2023). Again, statistics show that 86% of consumers abandon a brand after at least two bad experiences. At the same time, statistics show that 49% of customers abandoned their brand due to bad customer experiences only last year. In addition, 60% of customers would switch brands after a negative contact center experience, and 61% would be willing to pay at least 5% more to get a better customer experience (Emplifi, 2024; Superoffice, 2023). These statistics show that customer experience increases businesses' market share, profitability, sustainability, and brand value. Therefore, it is vital for companies aiming to achieve these successes to use the feedback they receive while improving their customer experience. Customer experience through their online/offline interaction with retailers/brands has gained prominence, with 66% of customers considering it more important than the price of a product or service. Moreover, poor user experience has led 52% of customers to discontinue shopping on a brand's website (T_HQ, 2021).

Today's consumers focus less on the products or services they buy and more on the experience they provide and how this experience conforms to their desires and thoughts differently from other consumers (Yang & Lee, 2022). In this way, it becomes necessary to investigate the intangible dimensions of consumption, which are relatively difficult to understand, rather than the fulfilment of calculable basic needs. Recognizing this shift in consumers, companies (digital, physical, or phigital) are looking for ways to get continuous customer feedback to strengthen their competitive edge (Kumar et al., 2023). It has become imperative for businesses to receive a wide variety of data from their customers and analyse these data with advanced techniques to enhance the experience they provide to their customers.