Companies are pouring money and resources into customer experiences. According to a study by Forrester, 72% of businesses say that improving the customer experience (CX) is their top priority, a number that is sure to grow as B2B and B2C organizations alike continue to compete for the attention and affinity of today’s digital-first customers.
While marketers may seem tempted to hit the ground running with these CX initiatives, creating customer experiences that truly move the needle requires a composed, systematic approach to analytics. By establishing customer data at the center of your CX strategy, brands set themselves up for success in a number of different ways.
Marketers are increasingly measured by the tangible impact they bring to their business. Gone are the days of broad reach and blanket messaging—if campaigns aren’t based off of audience insights, they are simply subjective and wasting valuable budget and marketing opportunities. By building customer experiences around known and inferred customer data, brands can deliver smarter, more sophisticated marketing moments with their audiences.
For example, let’s say that a High Tech brand recently launched a new product line. They want to create a campaign that spreads awareness around the benefits that the product can offer to both businesses and every day customers to generate online sales.
Through advanced customer analytics, the brand can not only separate their customer base into B2B and B2C audience segments, they can explore psychographic characteristics, digital tendencies, and apply multivariate testing to determine the channels and campaign messaging that would be most effective on an individual level.
This type of data-driven CX is quickly becoming the new norm as marketers are pressured to demonstrate how they are increasing campaign engagement, decreasing cost per leads, and accelerating sale cycles.
Consumers expect brands to understand who they are, what they’re interested in, and when they want to be reached. At the same time, they want the peace of mind in knowing that their data privacy is respected and that brands are not overstepping implicit boundaries.
This, of course, is no easy task. However, creating customer experiences that address these complex expectations is much, much easier when marketers have access to the right data insights.
With the right analytics approach and tool set, marketers can begin to anticipate their customer needs to deliver the most effective content, resource, or offer at precisely the right time and map it to an individual customer profile. Personalizaiton, predictive analytics, DMPs, and marketing platform integrations are all important aspects to ensuring that every interaction you have with your customers is tailored, timely, and tactical while still maintaining privacy compliance.
To truly put analytics at the center of your CX strategy, it must first be at the center of your business.
When it comes to business decisions, department heads want to act quickly. They want immediate access to the reports and data that allow them to do their job. Without this access, these departments can—and will—implement their own software tools to run reports, creating a major issue for data governance and IT teams.
By setting up internal processes that integrates analytics across your key business units—Marketing, Sales, Product, Operation—organizations can create a business structure that encourages cross-team collaboration and ensure that every department leverages analytics to inform recommendations, execution, and of course, better customer experiences. To accomplish this, business decision-makers must begin by identifying the data and customer analytics most pertinent to their business success, determine how to measure it to provide maximum value for their diverse business units, and establish a reporting structure for monitoring and continued optimization.