How Data Analysis Improves Customer Experience
How Data Analysis Improves Customer Experience
$1.6 Trillion—that’s the estimated cost of customers switching brands due to poor customer experiences in the US annually. Let’s put that in perspective—more than 7.5 times the net worth of Bill Gates, Jeff Bezos, and Warren Buffett combined. Evidently, when it comes to the customer experience, the stakes are high.
In fact, by the year 2020, customer experience is expected to overtake price and product as the key differentiator among brands. Don’t get left behind! See how to make the most of your data to improve customer experience.
Get to Know Your Customers
Your data is a goldmine of customer information—use it to your advantage! By using data to understand your customers at the individual level, you can make their engagements with you as personal and tailored as possible. This translates to greater sales, increased customer satisfaction, and sustained brand loyalty. It’s all about reaching the right people with the right message at the right time.
Identify Key Points Along the Customer Journey
To truly understand what your customers need, you first need to understand how they interact with your brand at each touchpoint. Relevant data across every stage of the buying process enables companies to not only assess customer behavior and the immediate transaction, but all of the events leading up and following the interaction as well. The goal is to reduce the time taken for prospects to convert to leads, have higher value deals, and streamline the customer journey.
Predict Customer Wants and Needs
In today’s data-driven world, companies have unprecedented amounts of information that can allow them to determine customer needs before ever interacting with them. For instance, transactional data or a customer’s past purchase history reveals key information including how much they spent, how often, and most importantly, on what products and services. Using this data to map out customers’ next moves is key in deciding how to re-engage them and provide them with what they need.
By using data, companies can improve their customer and user experiences, leading to higher satisfaction and ultimately, loyalty in the long term. Ready to improve your customer experiences? Team up with Redi-Data to generate the leads you need with hundreds of demographic variables, such as buying habits, lifestyle interests and more to target the best prospects with the right message at the right time.
Redi-Data…Turning the Best Data into Better Business