US businesses have been encouraged to measure their customer sentiment to find out what their current and potential customer base thinks about their company, products, services and interactions.
Writing for DM News, Seth Redmore, vice-president of product development at Lexalytics, explains that customer sentiment is different from the "consumer confidence" indicator published by the government.
He explains that collecting this customer-generated data can be a great way to assess market conditions and feeling.
"Customer sentiment data is directly accessible through social media, surveys, your own website, call centers, sales people, forums and other data sources," Mr Redmore added.
"There are many services that you can get to help you follow trends in each of these areas. Each of these points of contact with your customers needs to be watched so that you can adjust as necessary."
The expert's comments may encourage a large number of organizations to invest money on improving their CRM systems so they can effectively harness customer data.
Posted by Richard Jones