How can you offer value to your existing clients? How do you ensure you retain your customers? Statistics indicate that, it is easier to retain a customer than to acquire a new one. Analytics customer experience allows business managers to offer great customer experience.
58% of organizations had a remarkable increase in customer retention. This is as a result of using customer experience analytics.
Today, the greatest secret to building a sustainable business has been relayed. It is customer experience analytics business integration.
What is Analytics Customer Experience?
Customers are loyal when they see value in your brand. Analytics is the collection and analysis of customer data. This data helps business managers make well informed decisions. The data gathered from analytics offers actionable insights. This insights help in analyzing strategies employed. To determine what is working and what isn’t.
It points at the challenges facing customers. Some you might not be aware of.
The data collected and analyzed offers an alley of metrics. Business managers must look for the right metrics. These metrics must align with the organizations goals and also have customer at heart. Customer is king!
Many business managers guess the customer psychology. Well, with analytics customer experience you no longer have to guess. You get to study each customer behavior. What would constitute a better customer experience? What would inform customer dissatisfaction?
For unrivalled customer experience, using analytics is a step in the right direction.
Some of the metrics each business manager MUST track include;
- Brand loyalty
- Customer satisfaction score
- Return purchases
- Customer churn
- Customer effort score
Benefits of using Analytics Customer Experience
Here are some benefits of Analytics to improve customer experience;
- Track Customer Experience
Analytics helps gather your customer data and their experiences. This will happen as interact with your product or service.
Let’s imagine, for the example, you are able to track your customer. You are able to see how they interact with product or services on your website?
What did they interact with? Why didn’t they buy? Why did they abandon cart? How long they the stay on your site?
This data will inform your next course of action.
- Personalize Customer Experience
Big brands have invested a lot to personalize customer experience. Amazon is a good example. They have mastered the art of personalizing customer experiences. They offer other services that are in line with the customers’ tastes and preferences. This not only improves customer experience but also boosts business. The customer also feels valued.
- Intelligent Decision Making
When you know better, you do better. Business managers are able to make informed decisions by using analytics. This saves time and money. The business instead channels business efforts to improving customer experience.
- Identify Road Blocks
Analytics points you to what is working and what isn’t. A good example is, when a business analyses data. They might discover that client spends less than a minute on their site. This could point a pertinent issue. Ranging from pricing, website outlook or site navigation trouble.
This offers valuable insight to your business, when issues are addressed with the right focus. Then, your business benefits from using analytics to improve customer experience.
Analytics offers you more than just improved experience. It offers your business better ways to attract a client and retain them. This is the goal for every business!
Have you read?
CEOWORLD magazine’s University Rankings By Subject 2019:
# Top 500 Best Universities In The World For 2019: Medicine And Health Science Degrees. | Life Science Degrees. | Physical Science Degrees. | Psychology Degrees. | Arts and Humanities Degree. | Education Degrees. | Social Sciences Degrees. | Business And Economics Degrees. | Computer Science Degrees. | Engineering And Technology Degrees.
Track Latest News Live on CEOWORLD magazine and get news updates from the United States and around the world. The views expressed are those of the author and are not necessarily those of the CEOWORLD magazine. Follow CEOWORLD magazine on Twitter and Facebook. For media queries, please contact: firstname.lastname@example.org