Customer experiences have a direct impact on your bottom line. In fact, as much as 86% of consumers who had great customer experiences were highly likely to repurchase products from the same brand.
According to Salesforce, as much as 74% of customers will likely switch brands if they couldn’t enjoy a seamless shopping experience. As a result, businesses have to strive to consistently provide the right product or message to the right target audience (at the right time). However, when put into practice, this can quickly turn into a highly complex and difficult endeavor.
Delivering enhanced customer experiences comes down to understanding increasingly complex customer journeys. Today, a typical customer will embark on a multichannel journey before a making a purchase decision.
Whether it’s researching the product online, downloading the mobile app, or filling out applications, large amounts of data can be collected at each touchpoint. As a result, it can quickly become difficult to derive valuable insights into customer behavior.
However, analyzing this data will be critical to improving customer experiences at each and every touchpoint to increase revenue and reduce costs. So how do you do it? Let’s take a look.
Focus on the Most Relevant Buyer Journeys
Data is being generated continuously and volumes are expected to keep growing for years to come. This makes it important for companies to prioritize and cut through the clutter.
This approach will enable businesses to focus on where the customers tend to drop-off during the course of their journey. By analyzing and responding to these events, you can effectively address customer loyalty and retention issues.
For example, when a customer is purchasing movie tickets via an app, he might follow the same pattern every time. By knowing the customer buying journey, the ticket seller company can show the customer only those pages that are relevant (such as a list of movies) and will bring him much faster to the ticket purchase page. If it takes a long time to load some specific pages on an app, the customer might leave the app being frustrated by the extra time he needs to spend on a purchase.
It’s also important to note that every interaction across multiple touchpoints is important to improve brand perception and value. This is because how they feel about your brand will come down to how you treat your customers.
Make Quick Decisions
When enterprises sit on their data and hesitate to make decisions, they can quickly lose opportunities for engagement and enhanced customer experiences.
To do this effectively, a number of individuals working in different departments such as IT, marketing, in-store sales, and online sales need to come together to identify the problems and resolve them.
While mistakes can be made during this process, it’s an opportunity to test, learn, and refine the benefits offered to the target audience.
It’s All about Focusing on the Buyer’s Journey, Not Reports
Just generating reports defeats the whole purpose of this exercise. When you generate reports just to understand what happened, you miss out on opportunities to pinpoint the cause and effect that can help you make better predictions.
For example, this will help improve poor shopping experiences that are a result of badly designed websites that are hard to navigate. By better anticipating the consumers’ needs, you can lead them to the desired destination and deliver frictionless experiences.
For example, if a business knows that their customers from a certain region use Internet data at a certain time of the day, they can offer discount packages that will give their clients more data at a lower cost.
Sometimes the changes can be quite small but can have a huge impact on customer experiences. When you don’t pay attention to the minor details, business will have to deal with customers venting their frustrations on social media (which will have a negative impact on brand value).
The key here is to leverage big data and analytics to eliminate unnecessary and complex functions to deliver seamless enhanced customer experiences. At the same time, big data analytics should also be used to improve staff productivity as it can have an impact on customer experiences.
While big data and analytics will be critical to ensure customer retention and loyalty, it’s not always going to be easy to find top talent to achieve your business goals.
Whenever this is the case, it’s a good idea to outsource this function offshore like FIDO Solutions Limited who not only saved 30% to 40% of their total team costs but also accessed top talent by working with Intersog.
Are you striving to leverage big data and analytics to drive enhanced customer experiences? We can help. Reach out to one of our in-house experts at Intersog now!