How To Use Big Data To Deliver Optimized Customer Experiences
Big data can be a major tool in helping you deliver optimized customer experiences. Here's how it works and why.
Business success begins and ends with customer experience. According to recent studies, 90 percent of buyers would gladly spend more for a better customer experience. That’s exactly why understanding what an improved experience means for customers is so important.
When you are doing research, it is important to use web analytics. Web analytics tools can give a lot of insights that will help you serve customers more dependably. You may need to learn what is web analytics before proceeding.
Companies have been able to perform more in-depth customer analysis—above and beyond social media commentary and feedback surveys—with the development and proliferation of analytics. Drawing on a mix of complex data sets from a wide variety of sources, companies have been able to earn higher sales numbers and improved customer service based on a clearer perspective of customer behavior. This intel has also proven critical for making big decisions like revising your strategy for engaging customers or even pivoting your product.
Considering this, the following five customer-data-driven methods can assist your business in boosting experience quality for your customers.
1. Improve Understanding of Your Target Audience
Previously, companies relied heavily on observation and direct engagement to collect data on customer interactions. While this information proved helpful in some ways, it was a challenge to organize and aggregate and therefore provided limited insight. Currently, companies can review thousands of data points on individual customers for enhanced comprehension of their best customers.
One example is the use of big data to differentiate millennial buying habits from older customers. Companies are able to better understand why an individual product is more enticing to one age group than another. Equipped with this insight, brands can cater to specific subgroups to grow their customer base.
There are several software solutions on the market that can assist you with getting a better handle on your audience relatively easily. Solutions such as Socialbakers use AI to define customer personas and help you know your audience better.
2. View the Complete Customer Journey
Beyond building your core audience, big data facilitates a more comprehensive look at the entire customer journey.
It used to be that organizations could only rely on immediate client interaction to study customer behavior and trends. Presently, big data allows companies to track customer behavior before, during and after an interaction.
Internet transactions are one instance of this expanded view. Companies are able to view what sites were visited by customers before and after those customers complete transactions on their sites. Using this information, companies can determine what may have triggered why a customer chose to make a purchase at a different site.
3. Customize Your Customers’ Experiences
In lieu of treating every customer with a one-size-fits-all sales strategy, companies are able to use big data to address individual buyer needs and desires. With this approach, your business can broaden its base of loyal consumers, which drives long-term business growth.
Experts agree that businesses across a variety of industries can generate a 25 percent increase in profits by growing customer retention by just 5 percent. Big analytics empowers retention growth by revealing customer preferences as indicated by past buyer behavior.
Take past customer calls for instance. A customer may have once called to inquire about free trials at your company. You could offer this same customer the opportunity to buy your product and extend a refund option. The customer is likely to become a loyal patron because such an offer would cater specifically to the customer’s personal preferences.
4. Deliver Multi-Channel Support
Your company can take personalized service to the next level with multi-channel support from tools like amoCRM.
While some customers like to engage with businesses via phone support, others prefer live chat, social media or email. What businesses must figure out is how to satisfy individual customer preferences while maintaining effective communications across all possible channels.
Despite individual customer preferences, every medium your company uses should function at the highest levels whether your customer uses a certain method or not. Otherwise, your business may be sacrificing new opportunities.
This is where big data—and its wealth of data analysis—can guide improvement of customer service functionality across various channels.
5. Help Customers Save Time
Saving time is a big deal for customers, which is why many customers will often abandon a brand that lacks operational efficiency. Big data provides myriad ways to help customers save time.
Say that a customer prefers to receive outbound communications by text message. We’re talking about updates like delivery information, exclusive offers or upcoming events. Brands can learn and track this preferred mode. Meanwhile customers will appreciate the consistency as well as not having to check multiple channels for this type of information.
When a business uses big data to predict future services, detect product issues and communicate real-time tracking on deliveries, customers will save time from having to keep up with these details themselves.
Leverage Your Big Data
When companies use big data strategically, they can capitalize on an improved understanding of customer behavior to perfect customer experiences. Remember, customers desire awesome experiences with your company and don’t mind paying more to have them. Use the powerful tool of big data to make sure those desires are fulfilled.