Research shows that the key to increasing profit lies in improving customer experience. However, dissecting and identifying customer experience issues isn’t always as straightforward as you’d think. Sometimes obvious solutions don’t work, and your customers, despite your efforts, still aren’t happy.
This is where data analytics and big data come in. Big data isn’t just the marketing industry’s latest buzzword. No, data analytics could be the key to improving your customer experience and increasing profits. But how?
What are the best ways to use data science and analytics to improve your business growth? Let’s take a look at ten ways to improve the customer experience through data analytics.
1. Understand and Define Customer Needs–
Big data allows unparalleled insight into your customers’ needs and wants. If you identify your big questions about your customers’ behavior, you can trace those questions back into the analytics and begin developing a customer needs profile.
2. Insight into Customer Questions-
What types of questions do your customers have? Data analytics can determine areas of your website that visitors leave, problem spots that you haven’t identified, and common FAQs that are going unanswered.
3. Personalized Shopping and Marketing-
Through deep learning, you can gain meaningful information about each person that visits your website. Subsequently, you can provide them with a personalized shopping experience and marketing materials. Stats show that customers prefer a more targeted shopping and marketing experience.
4. Customer Predictions-
Once you have a good idea of who your visitors and shoppers are, you can quickly begin to develop predictions and establish customer trends. Data analytics is like a crystal ball for customer behavior.
5. Customer Churn Analysis–
Data analytics allows you to better understand customer retention and customer churn. Knowing these two crucial numbers and the factors that caused them are critical to improving customer experience.
6. Overview of Team Performance-
If your team isn’t performing, they’re less likely to give quality care to your clients. Data provides insight into which of your team members are thriving and which aren’t making the cut.
7. Streamlined Inventory and Shipping-
Inventory issues and shipping concerns are some of the biggest customer complaints. With data analytics, you can predict which inventory items you’ll need and prepare for shipping concerns. Additionally, you’ll be able to see if you have any existing shipping issues.
8. Overview of Online Image-
Data analytics also allows you to compile and decipher your reviews around the web. See and understand what people are saying about your company and adjust if necessary.
9. Increase Conversions-
Data science allows you to get granular with conversion ratios. If you can see how and when people are converting, you’ll not only increase profits, but you’ll be able to improve customer service by providing your customers what they need when they need it.
10. AI Integration-
On the same line as targeted shopping and marketing experiences, AI is changing the game. Data analytics is a simple way to effectively integrate AI and know if your customers are responding to it. Data analytics ensures that AI is working appropriately. For instance, making sure chatbots are asking the right questions.
Clearly, there are several ways to use data analytics to improve the customer experience. However, it can be overwhelming to get started. Don’t’ be afraid of reaching out for help. There are several data analytics consulting firms that can ensure that you’re improving your customer experience, and ultimately increasing profits.