Detractors in a 4 star rating: Crypto App Analysis
Luno Overarching Brand Perception
What customers expect and how well is Luno doing against customer expectations?
Lunos' over-arching brand perception on Twitter and Google Play is mixed. Our analysis of the 30 day brand perception for Luno on twitter and Google Play Store shows an almost equal distribution of positive versus negative sentiment. Even though Luno has 4.2 stars on Google Play, detailed analysis of reviews shows important trends that Luno could act on.
How strongly do these customers feel about specific attributes and services?
For this analysis we focused on product and service attributes that customers have a strong negative association with.
Detractors in the midst
The video summary highlights that strong probable detractors could potentially be “hidden” in the feedback. Combining both the emotional as well as specific attribute can be a strong predictor of how customers truly feel at that moment in time. It also gives Luno an opportunity to have a more personalized outreach for improved retention and growth.
Biggest contributors to negative sentiment
Delays in Account Verification
There is a strong negative sentiment towards how long it takes to get accounts verified
Primarily around time it takes to respond.
High Fees and Rates
– requests to reduce fees – charges on failed transactions – support for $Nano (Zero fees)
Spamming and un-desirable communication
– strong negative sentiment towards SPAM like outreach – complaints about lack of unsubscribe options
The wallet is generating negative feedback
Although the App itself has strong positive feedback on its ease of use. There are notable features specifically the wallet feature of the app.
– do not have access to funds – funds not showing up – issues withdrawing
Top Opportunities for Improvement
Impact actions from 30 day analysis on twitter and Google Play*
*Note: Event though this analysis focused on two channels of feedback, we can easily extend this to support channels via the Customer integration
Based on the analysis of both Twitter and Google Play over last 30 days, the following 3 areas present opportunities for improvement:
- The verification process
- Fees and Charges
- Messaging based on Competitive analysis
The verification process is captured in multiple sub topics, and in each topic it represents a strong negative sentiment.
For example it shows up within the context of App, the Luno brand itself, account, when customers have a strong association with the word problem, within the context of rate, transaction
Explore rate and charge alignment
High fees, rates topic repeats within multiple contexts with a high negative association.
It shows up within the context of bitcoin, Money, Network fees, charge, rates This also is a good opportunity for Luno to run a base line rate comparison in the market vis a vis its competitors and market expectations.
Messaging and Communication
Fees and transactions can be a sore topic and major pain point in the feedback from the datasets analyzed.
Luno seems to have started a campaign highlighting lower fees but has not taken root with the customers or new rates do not seem to be aligned with customer expectations.
This could be a great opportunity for Luno to highlight its rates relative to key competitors.
More channels, continuous monitoring, and post action analysis
We hope that this analysis demonstrated Xmata can help companies like Luno provide insights, and identify action areas to customer experiences that create long term loyal customers. We could have easily introduced analysis that compared Luno with the category, as well as its competitors.
The Xmata platform would also subsequently enable companies like Luno to measure post action changes to help gauge whether improvements resulted in improved customer outcomes.
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