In today’s episode of International Finance’s start-up journey, we will talk about New York-based AI venture Frame, which, since its inception in 2016, is building one of the leading customer success platforms by providing a robust solutions framework.
By using Frame’s solutions, client ventures can draw up business themes for customers, apart from being able to identify patterns for retention and acquisition of customers, and turning qualitative feedback into quantitative data for key leadership decisions.
Frame & Its CX Solutions
Before we delve into Frame’s industry expertise, let’s talk about Organic Customer Feedback, a process which sees a consumer actively giving his/her product and service feedback on their own accord to a company. The process can occur in person, by email, or on social media.
“Organic customer feedback is the key. It explains and predicts the behaviours that you want to encourage and avoid, from survey ratings to churn and expansion, and reveals what moves the needle on customer sentiment, customer effort, and cost of service,” Frame stated on its website.
Frame AI’s organic Customer Experience (CX) scores are simple, high-frequency leading indicators that tell the client businesses everything the latter needs to know about their customer feedback, without wasting their precious time and efforts on conducting surveys back and forth.
‘Organic Promoter Score’, ‘Organic Customer Effort Score’ and ‘Organic Team Effort Score’ are the three analytical methodologies used by the Frame to lets its clients know about the products and services that are working with the customers of the latter, along with generating real-time data on the business challenges being faced by these ventures.
Frame’s data mining is all about helping its client companies to make informed business decisions and narrowing down immediate concern areas.
How Do These CX Solutions Work?
Frame’s AI solutions bring structure to the otherwise unstructured organic customer feedback processes of its clients. The venture takes over the steps like scoring customer sentiment, apart from rating the interaction efforts of both customers and the client business’ field teams across the communication channels.
“We take the heavy-lifting out of analysing customer feedback, and the mystery out of CX measurement to power intelligent actions to save today, and data-driven insights to win tomorrow,” Frame commented on its data mining processes, which eliminate the need of conducting repeated ground surveys.
Frame’s premier solutions are ‘Unified Customer Feedback Hub’ and ‘Organic CX Scores’.
‘Spot unhappy customers and act fast’ has become the tagline of Frame’s ‘Unified Customer Feedback Hub’.
Here automatic and AI-based sentiment monitoring captures customer sentiments the client companies want to hear.
Whether it’s arriving at a decision on how a new product launch will shake the market up and what should be its pricing model, or identifying and acting upon the customer pain points, ‘Unified Customer Feedback Hub’ has become the one-stop solution for businesses.
“Bring quantitative data to meetings with your counterparts backed by an endless supply of curated verbatim they’ll ask for. Rapidly identify areas of improvement, from your triage process to your product roadmap and your billing department,” these are Frame’s words for its potential clients.
‘Unified Customer Feedback Hub’ takes a balanced approach, when it comes to measuring the client business’ customer effort. The approach combines variables like natural language, operational factors, and time, to reconcile what customers find hard with what costs them the most time. Also, the customers don’t need to fill out survey forms as the whole process gets taken care of by Frame’s Natural Language AI, as it collects data on customer sentiment on a continuous basis.
Coming to the Frame’s ‘Organic CX Scores’, the approach helps Frame’s clients to be armed with data-driven insights, when it comes to taking business decisions as per the customers’ experiences and requirements.
‘Organic CX Scores’ helps businesses to spot weak links early, especially when it comes to capturing the market mood before a high-stake product release. Any new product launch always brings new challenges along with it and Frame’s ‘Organic CX Scores’ helps the companies to identify those potential roadblocks way before and make proactive decisions as per that.
Once the product is launched, what are its game-changing features that are winning over the consumers and disrupting the markets? How the product can be upgraded and enriched further? What is the general consumer mood? ‘Organic CX Scores’ AI-based case analysis brings out all these real-time data-driven feedback, thus helping the businesses to refine the products further and make them aligned with consumers’ preferred choices.
Also, let’s talk about Frame’s Intelligent Key Performance Indicators (KPIs), which is basically a data analytics-based reporting tool, which comes in handy for client businesses, in terms of analyzing product feedback and identifying the population bases among which the product will be most popular.
Customer churn signifies a phenomenon of a certain percentage of customers stopping purchasing a company’s products or services during a certain period of time. Frame.ai has a solution for this as well, through its ‘Automated Routing & Predicted Escalation’ method.
Here, AI helps businesses to find answers to questions like ‘Why do your customers leave you?’ and ‘What do they find painful?’
Frame’s ‘Predict Escalations’ aids its client businesses to proactively help customers navigate high-urgency issues, when it comes to choosing and buying products.
Frame in November 2022 raised USD 7.6 million to accelerate its business growth. The campaign was led by G20 Ventures with participation from FirstMark and Greycroft, and attracted participation from Velvet Sea Ventures, ValueStream Ventures, Twilio and LiveRamp.
This funding will be reportedly used to expand sales, and to deepen the start-up’s capabilities in combining natural language, AI tools and event data to understand customer journeys in a better manner.
Frame is aggressively specialising itself in generating customer-specific insight for its client businesses.
“We’ve designed our products and data pipelines to strictly segment by customer, supporting on-premise deployments if needed. Customer-facing teams are subject-matter experts in their conversations, but are also operationally taxed teams that must prioritize conducting conversations over research. Frame’s job is to make the most of their expertise without disrupting existing processes or demanding too much time — at any point in our adoption process,” the company stated further.
Prioritising customer interactions based on business impact and preventing issues from becoming big problems, proactively strengthening customer relationship health and helping its client companies to stay ahead of changing customer expectations, have been the operational principles of Frame.AI.
And using the right pinch of AI’s disruptive capabilities, the start-up is changing the customer intelligence game in a grand manner.