Which competitors do you track daily? Which companies in your space are gaining an unexpected edge? Today, we’re thrilled to announce the Inside PositivityTech Benchmark Report ©, a brand new category of competitive intelligence based on customer narratives, which measures your “complaint share” relative to a benchmark group and the industry. Unlike other reports, the Inside PositivityTech Benchmark Report features:
- A new category of competitive benchmarking, based on your customers’ narratives
- Customized logic for creating institutions’ benchmark groups
- Market comparisons across companies and products over time
- Industry and market trends based on customers’ voices
Uncovering new competitors in our new reality
COVID-19 has transformed our world, and with it, your market share has changed, too. While 2019 saw stability, external events from the pandemic in 2020 have led to major changes across the industry.
Our proprietary tools ingest customer narratives and extract critical intelligence, making it possible for the Inside PositivityTech Benchmark Reports to reveal the information that institutions need to know about their shifting space. The report highlights comparisons across products and companies, the severity of your complaints, leading indicators of environmental risks, potential for bias, and the impact of COVID — and shows important changes over time.
- Severity Score: Identifies severe complaints and future risk based on customer narratives.
- Bias Index: Identifies prejudice within customer and employee complaints and makes it possible to prevent systemic discrimination.
- Trigger Notifications: Algorithms that reveal leading indicators of environmental risks to enable preemptive management actions.
How to use Inside PositivityTech Benchmark Reports
When you can identify and understand the specific problems described in your customer complaints as compared to your competitors’, you can predict future risks and reveal unexpected opportunities that keep your institution ahead of your competition. There are multiple applications for competitive intelligence derived from your customers’ narratives, including:
- Internal improvements in processes, features and product development
- Competitive opportunities and threats
- External monitoring and strategic investments
With the Inside PositivityTech Benchmark Reports, you will be able to:
1. Identify your partners’ customer pain points in order to improve your collaboration
While partners bring innovation, expertise, scale, and speed to market into products and processes, they also can introduce risks. It is incumbent on your institution to understand and monitor your partners’ customer voices. Evaluating their customer complaints provides you with additional monitoring capabilities.
2. Pinpoint COVID-19 issues, complaints, and resolutions
With PositivityTech® “keyword intelligence” from COVID-19-related customer complaints, you can identify major issues with which your customers are struggling, see how well your institution is resolving issues compared to your competitors, get ahead of future issues, and help your customers through difficult times.
3. Identify changes over time
Every institution can pinpoint another company that may not have seemed like a threat at one point, but then made inroads into their market share. For example, a recent article in Forbes discusses how Chime is currently leading with a 35% share of digital bank checking accounts, as compared to Ally Bank’s 9% share.
4. Uncover your “complaint share”
Monitoring your “complaint share,” a new variable that showcases your customer complaints and competitors’ customer complaints, can protect you from major risks. You can measure your “complaint share” relative to the benchmark group and the industry, track its changes over time, and understand where to apply your attention.
Subscribe to Inside PositivityTech Benchmark Reports
What is your “complaint share”? In today’s fast-changing world, you need to know. You do not want to be surprised when a competitor eases into your leading position. Our cutting-edge Inside PositivityTech Benchmark Reports will give you the critical information to understand where you’re leading and where you might be losing your edge.
Subscribe to our Inside PositivityTech Benchmark Reports now to see how your institution compares to others, based on intelligence from customer narratives. Please email me at marcia.tal@positivitytech.com to gain access to these reports.
Wishing you and your families a happy and healthy Thanksgiving!