Michael Renzon, chief executive officer of inQuba. (www.brainstormmag.co.za)
Speaking at the Customer Experience Management (CEM) conference, Renzon discussed the rapidly evolving customer management sector, with emphasis on customer experience, engagement, loyalty and the role of social media.
Renzon referred to social media as the "new kid on the block”.
"What we see happening around social media is that customer experience professionals are typically taking this data and using very discreet technology and models to analyse the data and are not tying that data back into the customer experience model," he said.
He said it is important to build a "social media playground" by building a platform that is fun for the customer, adds value and builds trust.
Renzon added: "One of the things that we see with social media data is that it pushes a lot more buttons, so... an executive sees something on Facebook being brought to their attention, they're very quick to act.
"Steve Jobs said of Apple that he wanted the company to be at the intersection of technology and liberal arts. For me this is a very interesting idea in that this is exactly where we at inQuba see Customer Experience 2.0 (software)."
Renzon added: "The two key elements that we see around Customer Experience 2.0 is firstly the idea of customer experience and secondly the idea of customer engagement."
One of the means by which customer engagement is implemented is through social media.
With regards to social media, email and internet, Renzon said it is important to identify the entity in the text of the comment, in other words who or what the customer is praising or complaining about.
Once the entity has been identified, one must then identify the topics in the text and then determine whether the sentiment is positive or negative.