Want to know how your customers feel about your business?
Surprisingly, most companies don’t. They collect data, yes. But they often don’t know how to turn that data into insights that can drive measurable business outcomes. It’s a big problem, because data is only useful when it can be used to make your business better.
Why?
74% of customers expect a frictionless online experience, but most companies are falling short. Why? Because they lack the customer experience analytics platform necessary to truly understand their customers’ expectations and behaviors.
This leaves you flying blind, guessing what works and what doesn’t, why your site performs better in some areas than others, or why your campaigns are falling flat.
Comprehensive analytics platforms solve all of these problems. They collect data from every possible customer touchpoint and convert it into actionable insights. Understanding customer behavior is only possible with a sophisticated platform that can process enormous amounts of data and identify actionable trends and patterns. Businesses of all types and sizes are finding success with comprehensive customer experience analytics platforms, the best of which offer advanced segment builder software to know exactly which customer groups are acting in what ways.
Customer experience analytics platforms are transformative solutions for businesses looking to take their understanding of customers to the next level.
What Do These Platforms Do?
The best platforms collect data from every single touchpoint across your business, from website visits to email opens, social media interactions, purchase history, customer service tickets, and more.
The truly powerful feature of these platforms is what they do with that data. Advanced analytics algorithms are used to identify trends and patterns, surfacing actionable insights.
For example, your customer experience analytics platform may tell you that customers who view your product demo video are 3x more likely to convert.
Did you know…
78% of companies surveyed reported experiencing loyalty gains from using advanced data analytics to better understand their customers. That’s not a coincidence.
Think of customer data like crude oil. It’s only valuable if you process it into something you can use.
Customer experience analytics platforms are exactly that. They refine all of that raw data from every customer interaction point into clean, actionable customer insights.
How Do They Do This?
The platform gathers data from every source. Your website, mobile app, email campaigns, social media, customer support interactions, and offline touchpoints all feed into the platform.
It’s AI and machine learning algorithms that identify customer behavior patterns. For example, it might notice that customers who abandon their cart on a mobile device often complete their purchase on desktop within 24 hours.
Customer analytics platforms have become incredibly easy to use in recent years. Instead of drowning in spreadsheets, you’re presented with simple dashboards showing you exactly what you need to know.
Understanding customer behavior is not an easy task.
Customers are complex. Every single customer who interacts with your business has their own individual needs, motivations, frustrations, preferences, and expectations. Add to that the fact that there are 7.8 billion humans on the planet, and you can see why businesses are struggling.
The key is finding a customer analytics platform with the right features to uncover the real customer.
What Should You Look For?
And the real kicker…
The average customer churn rate is 13.4% according to the most recent Small Business Health Index. And the top reason customers churn is that companies don’t understand what they need and want.
Ready to start unlocking the power of customer experience analytics to truly understand your customers and drive better business results?
Here’s what to do…
The first step is a data audit. Businesses already collect customer data. The issue is they don’t use it correctly.
Next, identify your biggest gap in customer understanding. Are you missing a lot of customers at checkout? Do you have high churn rates? Low engagement? Pick a specific problem.
Then, research customer experience analytics platforms that help solve that specific problem. When you’re looking at solutions, keep an eye out for:
You don’t have to solve every problem at once. Start with one use case, prove the value, then expand from there.
Customer analytics platforms are the future. They’re quickly becoming a table stakes solution for any business that wants to compete.
Not to sound like a broken record here, but the big issue is that most companies don’t know how to unlock the true value in customer data.
Most companies don’t know what they don’t know.
There are businesses out there that are sitting on a goldmine of customer data that they don’t even know they have. Or at least don’t know what to do with it.
But that’s okay. Because today, anyone can unlock the power of customer analytics and start truly understanding their customers.
All you need is to know where to look.
Customer experience analytics isn’t rocket science, but it does require the right tools.
The smartest businesses are using comprehensive experience platforms that collect data from every customer touchpoint and convert it into actionable insights.
Understanding your customers is the key to success, and those that take the time to figure it out will come out ahead.
Customer behavior can be understood, but it takes the right tools and a smart approach to analytics.
The businesses that are finding success are the ones who have learned how to unlock the power of customer data.
The good news is that the right technology is available today to anyone who wants it. You don’t need a big budget or a team of data scientists to get started.
All you need is the will to truly understand your customers better than anyone else in your industry.
Because once you do that, everything else will fall into place.
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