“It is no longer good enough to simply satisfy your customers or to have a product that works. No longer can you merely deliver a service within the timescale you have set. All these are important and we have to do them. But what will really make the difference is when the customer asks: when I went through that experience, did the provider really engage with me, did they understand my needs, did they think logically about what was best for me?” said Jo Causon, author of “Customer service: What should you measure to generate ROI?”
Customer analytics can give you these types of answers. It is the systematic examination of your customer information to help identify, attract, and retain your most valuable customers.
In order to meet the evolving needs of your customer and improve their experience, it’s wise to shift away from a product or organizational view to a more customer-focused view. In order to accomplish this, ask yourself the following questions:
- What do my customers need?
- How can my company better meet the needs of my customers?
- How much is my customer willing to pay for that product or service?
- What can I do to better serve my customers?
- How do my customers prefer to be contacted?
Answering these questions will help you anticipate your customer’s future challenges. You can identify the patterns in their behavior and pay attention to the changes in local, regional, and national customer’s needs. Doing so will help you develop a better understanding of your customer and identify how your business model can be improved to give your customer what they need.
Companies all over the world are using big data to answer these types of questions about their customers. Even with an ever-increasing amount of data, you might be wondering if you’re collecting the right data that you can interpret in order to give your company the most tangible benefits.
Before you make decisions based on this data, ask yourself if your company has the ability to:
- Get organizational buy-in for the changes that need to be made
- Obtain the budget and resources necessary to implement the project
- Have a way to measure performance metrics and set goals and key performance indicators
Once you start sifting through the data, visualization software can be used to turn the vast amounts of raw data into customer analytics that management can understand.