The saying “who dies with the most toys, wins” reflects an approach many companies have towards data: just accumulating it and not using it is futile. That said, the value in data is immense, provided that it’s used to derive insights in a meaningful way to the business. The central focal point to almost any business is understanding your customer and this is where customer analytics can be a huge advantage.
Know your customer
Every touch point, every transaction your company has with any customer can contribute to and transform the way you do business. With the right approach towards customer analytics, the peaks and lulls in business can be matched to frequency and times of the month that help glean insights into trends and patterns emerging. These trends and patterns are what enable you to strategically build sales campaigns around the times customers are most likely to respond favorably, making way for a more profitable sales strategy. The aim is a targeted sales strategy – one that leverages your data in an intelligent manner that allows you to plug and play, understand and grow.
That’s a fairly macro example of the use of customer analytics. A step further is really getting to know the intimate details about your customers’ consumer habits and building strategies with these in mind. The applications of customer analytics are almost infinite, depending on what you want to know. The longer your customer is around, the more data you have to play with, the more personalised your approach can and should be. This is of immense benefit to you and more importantly, your customer base, as it will remove most of the guesswork and enable you to provide greater service in a shorter timeframe.
The reverse is also applicable – knowing when NOT TO contact your customer. Understanding the pain points experienced amongst customers is just as important when designing strategies that target a far superior level of customer service. Having accessibility to real time information and the capability to act on this data can eliminate many of the frustrations within your customer base. In the contact centre capacity – knowing when and how to target your customer (when to phone, SMS, email) or when to remove from any of these channel strategies (due to real time interactions already taken place – thus eliminating any duplication in terms of effort and time wasted) is a huge win for the business and customer. Such insights provided by customer analytics can help to tackle and eliminate the pain points in any quantifiable interaction.
Customer analytics, although another chain in the branch of business intelligence, will always leverage off of the underlying infrastructure – how the data is stored, and how accessible this data is to the end users. Regardless of the preferred communication channel for the customer base, no matter how divergent, the customer experience should always be seamless. This is the true mark of great customer service.
The multi-channel environment is central to determining how you interact with your customer. In a contact centre that is primarily inbound-focused, when dealing with customer service such as after sales or complaints, pre-identification of customers is the first step to a personalised interaction. That information can be leveraged for decision-making: how, and to whom contacts are routed. This integrates the customer journey into your business, providing a more personalised space within which agents and customers can interact.
Customer preferences are what drive this personalisation, particularly in a multi-channel environment: if you know their communication channels of choice, it allows for more agile interactions, so business strategies should be built with those preferences in mind.
At the heart of customer analytics you have this goal – to get to know your customer – what they want, when they want it and how they want it. The more access you have to that information, the easier it is to provide the kind of personalised service that secures their business and ongoing loyalty.