Leveraging Data is the new trend of differentiating on customer experience. Data is present everywhere. And it cuts through departments and sectors, thus reducing the divide between sections in a company. However, there are numerous challenges that are being faced by many companies and it will take some time before we’re able to optimize the current scenario to a perfect scenario.
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Despite all the advances in technology, most companies are yet to provide a seamless customer experience to their customers. In a recent study, 89 percent of consumers and prospects said it was important for retailers to let them shop for products in the way that is convenient for them, no matter which sales channel they choose. However, it was found that more than three quarters receive poor experience when they move between channels.
Customer experience needs to be consistent and well-organized across all channels. Situations should not arise where a customer receives excellent service in one channel and after while is approached via another channel in the name of cross selling.
“Data” is the new buzzword today. Companies are realizing the potential of hidden insights in their data and are always on the lookout to extract maximum benefits out of them. This has also led to technology being an integral part of all departments, irrespective of IT or business line.
While dealing with data one needs to be careful and reasonable to ensure that aggregating all the data isn’t required to deliver a great customer experience. Also, this data revolution has led to a thinning of the line separating the various departments. Today a CIO focuses on internal technologies, whereas customer-facing technologies are being handled by CMOs or the like. At least, that is the expectation.
Do Marketers Act on Data Insights? [emarketer.com]
Continuing our talk on data and its importance, a recent study by Econsultancy has found that 73% of marketers feel that data is critical for their activities, yet 98% of them have trouble collecting and managing their data.
Also, only 30% of marketers feel that they are making good use of data. Data collection is just the beginning when it comes to understanding the customer journey. Converting this data into small data and cleaning it is a part of integration. And without action, data becomes useless.
We keep coming back to the topic of empathy whenever there is a discussion about customer experience. Emotions are fundamental to customer behavior, whether you are in business-to-consumer or business-to-business. They affect what your customers are going to do, and how they feel about your product. This emotion is what generates perception in the outside world.
It is observed often that customers will say one thing and behave in a different way altogether. So, it becomes all the more important for marketers to try to listen & understand these emotions (which really matter) along with the voice of customers.
This article is an interesting takes on internal data - creators and users i.e. your employees. Organizations are becoming busier in improving customer experience with the help of big data. However, one of the biggest challenges they face is that the employees who spend the most amount of time with customers are often the users who use analytics the least.
The author suggests a simple technique to overcome this scenario. He recommends that instead of going through the routine of teaching analytics to employees, it would be better to change the behavior of employees to take advantage of analytics. What it requires them to do is to take action with analytical insights being one of the most important factors in the decision-making process.
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