Monitor on-line conversations
We live in the era of
big data. Those companies have a competitive advantage that collect the most
data about their prospects and customers and transform it into useful
information. Predicting what a customer wants to buy and when he is willing to
purchase is in the crystal ball in which every company wants to look in. This
knowledge enables them to address their customers with relevant offers
specifically tailored at their needs. Therefore the aim of a company in our
days should be to possess as many personal and behavioral data of their
customers as possible.
But how do you get to
know your customers? Market research and customer satisfaction analyses are
established ways that are applied by most companies. A large amount of
interactional data and social insights about customers and customer behavior
are generated by transactions, e.g. in web statistics or customer
communications., Message boards, blogs Also geo-based data are important
sources of information that are used for analytics. Tracking those data and
using the retrieved knowledge can create further business opportunities.
Nonetheless, it is not
enough to only invest in business analytics. What a company needs is an overall
data strategy across departments to generate the necessary customer insights.
This data strategy is closely linked to a customer-centric strategy: If customer
experience stands in the center of a company’s business activities, the only
logical consequence is to know as much as possible about each single customer.
Since with whom do you have the best relationships? Right: the persons you know
best.
To enable a successful
implementation, however, it is necessary to break through the current
silo-structure in a company (marketing, sales, service, …). There has to be an
organization-wide approach instead of a department (silo) approach. This means
not only to integrate touch points across channels but to ensure that all
business activities are truly customer-centric and data-driven. Every
department has to have one integrated aim: retrieve as many data as possible
and communicate these insights into the company.
Without the support of
integrated business processes and IT systems it is impossible to pursue a
company-wide data strategy. But it is also essential to change into a
data-driven culture. Only if every employee in a company has incorporated the
necessary mindset and works in an environment that emphasizes quality data
generation, the transformation can be successful.
When your company is
now starting the journey to become a data-driven organization, some simple
guidelines can support you:
- Deliver value to customers to
make them voluntarily provide data
- Engage your customers in a
personal way to encourage involvement
- Support multichannel customer
interactions
- Analyze online conversations
about your products and services
- Track customer behavior (online
and offline)
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