Data is everywhere these days. We’re pretty much drowning in the stuff. And although sometimes it can seem like a lot of noise, in there, somewhere, are the nuggets of information you need to do just about everything better.
You only need to know where to look.
According to a recent report, 2020 is the year customer experience finally overtakes price and product as the key brand differentiator. The same report also shows that 86 percent of buyers are willing to pay more for a better customer experience.
So, there’s no doubt about it – offering top notch customer experience creates a competitive advantage.
In this case, data is your best friend. That’s why 52 percent of executives say a well-developed data analytics system, with a data-driven marketing strategy at its core, enables them to deliver superior customer experience.
When it comes down to it, enhancing customer experience through data and insights is the best way to provide the kind of personalized omnichannel experiences customers want. Using a data-driven customer experience helps you:
With so many customer experience data points out there, if you’re serious about getting a grip on them all, adopt certain approaches within your organization:
When it comes to harnessing data and using it to inform strategies that create a stellar customer experience, keep in mind these three tips.
Having an app or website that works is no longer enough. Customers want a personalized experience based on their interests and preferences, and a seamless one at that. It’s all about delivering relevance. And that means creating a unique experience down to the individual level.
An eMarketer study revealed that a worrying 55 percent of marketers are not confident in their organization’s understanding of the customer journey. Yet it’s crucial for providing insight into why customers behave as they do.
There’s no better data than what comes straight from the customer’s mouth. Customers are happy to tell you what they think of you and how you can better meet their needs – you just have to listen to what they say.
Make sure you give yourself the best possible chance of succeeding in your data endeavours by creating a setup that supports you. There are few key ways of doing that.
The customer experience is spread over a wide range of touchpoints and a number of different channels – online, in-store, or on the phone to name but a few.
If you want to really get your head around how each touchpoint and channel is impacting customer experience, then you need to bring them all together in one place. A holistic view is the only way of providing the perspective you need. So, make sure your CRM or customer experience platform offers a unified view of your customer information.
It’s great when a customer scores you highly, but how do you know that’s impacting the all-important financial metrics like revenue, sales or average customer spend?
Only by bringing together customer data and operational data can you see how improvements in customer experience positively impact your key operational metrics. This also helps you prove the value of your customer experience programs to leadership through ROI analysis.
So, use the analytics options in your platform and tools like Data Studio or other software to compare and contrast related metrics.
Here are some tools to make the data gathering and analysis process easier:
The true power of data isn’t in the insights themselves – it’s in the decisions you make on the back of them. A recent study by SAS found only 23 percent of companies were able to integrate customer insights in real-time.
In fact, research shows 80 percent of data is never even used to make improvements or the changes deemed necessary by customers.
So remember: focus on taking action, instead of over analyzing data. All the data in the world won’t matter if your customers don’t experience any improvement.