Increased competition, diffusion of digital technology and impatient as well as demanding customers has led enterprises to take the path towards personalized customer experience. But the question that still stands is: how can such customer experience strategy be measured? You can’t comment on the engine performance of a car by just looking at it. Hence customer experience analytics play a critical role in gauging your CX strategy performance.
When Analytics is used for improvised and efficient customer experience by analyzing, retrieving and collecting data, it is referred to as Customer Experience Analytics. With the development and evolution of digital technology customer experience analytics is used to better understand customer behavior and successful implementation of customer experience strategy.
Analytics is generally employed to understand data and derive insights based on this data to achieve a desired objective. With CX Analytics this objective gets translated to understand your customers better, improve their overall journey with your brand and deliver them an enjoyable and satisfactory experience. It helps you to look beyond just statistics into creating a story. The story that will convince the right people in your organization to do things differently, to advocate on behalf of the customer, and ultimately to drive better business results.
"Use data to create personalized experiences for your audiences. Customer interactions leave behind hints, creating digital fingerprints that can be analyzed for an abundance of information—right down to what your customers are doing or even how they’re feeling at that very moment."
- Jared Lees, the senior manager of industry strategy for financial services at Adobe
Benefits of customer experience analytics
You cannot afford to neglect customer experience analytics once you have employed customer experience strategy in your organization. Some of the benefits of customer experience analytics are mentioned as under:
- Identification of trends, reasons for glitches and patterns of customer behavior
- Empowers the marketing department to align right strategy and not do guess work
- It helps in visualizing the entire customer journey by aiding the development of true customer journey maps
- It helps in cross functional approach to customer experience unlike departmental and interaction silos
- It eliminates further obstacles in the customer journey
- An integrated customer journey map thus helps in giving you better insights and satisfied customer experience
Converting insights to provide better customer experience
With customer experience analytics you are in a better position to convert questions into decisions within minutes. It helps analyzing data to understand the complete customer journey. It helps you revisit customer experiences first hand and enables you to collaborate around insights with visibility across all channels. By getting down to the root-cause of customer feedback and closing the loop you can transform customer experience and hence your business. CX analytics helps you build role-based, interactive, real-time and highly visual stories for an action driven CX program that deliver results.
Predictive Analytics is the way forward
Predictive analytics focuses on making statistically probable predictions about the future so that you can take the right business decisions today. It has the potential to become the future of customer experience analytics by combining statistical analysis, AI and machine learning. Such a combination helps forecast and predict future outcomes by analyzing data and targeting the right customer with personalized and contextual communication at the right time. Customer experience analytics empower teams to quickly identify and engage with customer as a person and transform negative feedbacks and influence a conversation.
Providing best possible experience through personalization and engagement should be the ultimate goal of customer experience analytics. Espire Infolabs offers best in class data driven solutions leveraging our transformative Customer Engagement Hub framework in collaboration with our strategic partnerships to empower decision makers to effortlessly unlock enterprise data to study business patterns, predict risks and identify growth opportunities. We make it simple for business users to marry insights with credible business actions.
How can such customer experience strategy be measured? With the development and evolution of digital technology customer experience analytics is used to better understand customer behavior and successful implementation of customer experience strategy.