“Organisations are starting to understand the importance of respecting their customers”
No, this isn’t a quote from decades ago, this finding comes from a recent report by Gartner regarding customer experience and organisations’ efforts to personalise that experience.
How is it that in 2020, we’re only just realising how vital the issue of respect for customers is? Those companies who have already realised it are getting a 360 degree view of their customer and are winning at customer experience.
What can you do to catch up?
We all know that Customer Experience is about the interaction between a customer and your organisation but how do we measure it and how do we ensure it remains a focus of our endeavours when there’s so much else to do?
What is the outcome of great customer experience?
In its basic terms it means:
Happy customers who turn into loyal customers
Customers who leave great reviews on your own and third-party sites
Customers who mail in to say how much they love your product
And ultimately more sales.
If we strip it back a bit. The better your data, the better the customer experience you will be offering.
Three areas that will benefit by your Customer experience being on its A game are:
- Identifying up-sell and cross-sell opportunities
- Developing compelling new features
- Predicting future performance and demands
all of this will both satisfy your customers and drive business growth.
So, how do you achieve this business nirvana?
You can’t rely on your intuition when it comes to making business decisions. It comes down to hard data; data which has been correctly inputted, is up to date and easy to access.
In the same Gartner report, of the top challenges to delivering desired customer experiences, 40% of businesses surveyed, had issues relating to collecting, managing and storing customer data, second in place to the lack of an appropriate customer experience strategy.
So, 40% of businesses can’t deliver on customer experience because their data isn’t up to it.
How do you get all your data into something that is actionable? With our cloud managed data service, the complex system of extracting, loading and transforming is done for you.
For example, if you are an online retailer, you may want to analyse shoppers’ behaviour in the run up to Christmas, gaining insights into preferences, demographics and behaviour. You may want to create personas to segment your targets. In order to analyse this, the retailer will need to use data such as customer information and marketing campaign information which are potentially kept in different data sets, putting them together to develop a picture of a certain type of customer.
And, the best bit is, when you’ve got your data in order, it’s not just your customer experience that benefits, there’s a host of other benefits too.
- Predict future performance and demands
- Find new opportunities
- Identify cost savings
- Increase profitability
- Streamline reporting
- Gain a competitive advantage
So the bottom line is, customer respect is paramount; get your data in order and customer experience and satisfaction rates will rocket, as should your profits.
