CEOWORLD magazine - Latest - CEO Advisory - Why Analytics Customer Experience is Important for Your Business

CEO Advisory

Why Analytics Customer Experience is Important for Your Business

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;

  1. 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.

  1. 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.

  1. 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.

  1. 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?

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CEOWORLD magazine - Latest - CEO Advisory - Why Analytics Customer Experience is Important for Your Business
Alexandra Dimitropoulou

Alexandra Dimitropoulou

VP and News Editor
Alexandra Dimitropoulou is a VP and News Editor at CEOWORLD magazine, working to build and strengthen the brand’s popular, consumer-friendly content. In addition to running the company’s website, CEOWORLD magazine, which aims to help CEOs, CFOs, CIOs, and other C-level executives get smarter about how they earn, save and spend their money, she also sits on the Board of Directors of the Global Business Policy Institute. She can be reached on email You can follow her on Twitter at @ceoworld.