Using Analytics to Drive Customer Centricity
Much attention and discussion today is focused on â€śbig dataâ€ť and how it can be used to various advantages by business. Every credit card transaction or online transaction processing function generates data that can provide you with valuable information about your customers. Traditionally businesses obtained information collectively after-the-fact in a batch mode that provided some level of insight to past activities. But competitive markets require business agility that responds quickly to changing customer demographics and the need to interact effectively with the customer. Businesses that commit to a customer-centric culture and strategy will realize competitive advantages in numerous ways including:
- Understanding the customerâ€™s purchasing preferences: do they shop online, in physical locations?
- How does the customer use payment methods: mail a check, online payment, POS?
- Demographics: what have the customerâ€™s habits been for shopping, browsing, and purchasing?
- Observation of trends: focus on customer interests and patterns enables alignment with business goals and strategy.
Technology has generated the ability for business units to obtain literally millions of transactions that provide valuable customer information. Customer-facing business teams need information in real time that enables accurate evaluation of customer transactions and even their interaction with social media and digital technology. By empowering these teams with tools such as sophisticated analytical tools businesses will transform silos of data into useful information that enables them to make critical business decisions based on the right facts and at the right time.
Customer Centricity â€“ the Value of Analytics
New age customers are becoming increasingly vested in technology through interaction with social media, smartphones, and digital payment methods. Each click on your businessâ€™ web site or social media site provides you with the potential to acquire a new customer or market additional products to a returning customer. Itâ€™s critical that you maintain the customerâ€™s interest in your digital presence in order to improve your brand image and gather additional information regarding the customerâ€™s experience lifecycle. Some characteristics of customer-centric businesses are:
Digital customer interactions with your business allow you to focus on their interests which in turn enable you to provide the level of customer centricity that todayâ€™s digital consumers are demanding. Once you acquire the customer your approach to digital marketing can expand their interests in your offerings for omni-channel engagement.
How do Analytics enable Customer Centricity?
Consumers are empowered today through immediate access to information and businesses that provide the products or services they need. Those businesses that provide the most relevant and pleasant customer journey while interacting with the potential consumer will present the highest likelihood of customer acquisition. Continued engagement with the new customer will builds on the business directive for customer-centric focus that ensures a long-term relationship and enhances profitability.
In10s Technologies empowers business with the analytical tools needed to make the journey toward customer centricity. By transforming data from disparate silos into useful information that customer-focused teams can utilize for real-time decision making, business can react quickly to changing customer expectations. Our UniServe platform is trusted by Fortune 500 companies to gain competitive advantage through consistent personalized results any time their customers interact with them even through multiple channels.
Contact In10s Technologies today to discover how we can help your business and customers to achieve your goals for customer centricity.0