Creating and maintaining a competitive edge is something most business owners are passionate about. Failing to find a way to edge out the competition can lead to a business losing money and eventually going out of business. If you are looking for a way to take your knowledge of consumers and your industry up a notch, then using big data can be helpful.
A recent study shows that over 50 percent of American businesses are using big data in some form. As technology changes, your company will need to find a way to stay current. This is why you need to think about using data when trying to hone the approach you use when attempting to attract new clients.
The following are some of the ways big data can help to improve the customer experience.
1. Targeting Your Marketing Practices With the Help of Data
Modern consumers want to feel like the companies they use actually know who they are. Finding a way to hone and personalize the marketing methods your company uses is a great way to make consumers feel special. The only way to figure out what your audience needs and wants is by using the data they provide.
One of the best things you can look at when trying to target your marketing efforts is the click-through rate on your website. Often times, you will need to test a few different marketing methods to see which ones consumers respond to. As a business owner, your goal should be striving to figure out who your audience is. Over time, you will begin to get a picture of who you are marketing to, which can help you make important marketing decisions with ease.
Collecting the data needed to target your marketing practices is essential. One of the best ways to get this data is by conducting surveys of your existing customer base. You will also need to perform general market assessment surveys and run a few pricing trails.
Generally, a business owner will collect information on past transactions and data from surveys filled out at the time of surveys. With this data, you can get a comprehensive look at who your target market is.
2. Data Can Help You Improve Communication
Using the power of technology to reach a larger audience is vital. Most business owners have apps and software programs they provide to their audience. Not only can these programs provide value, but they can also help you communicate with your audience.
Most apps and software programs have places where consumers can leave feedback. Looking at and applying relevant suggestions made by your audience can help them feel like you are actually listening to what they are saying.
You will also need to focus on keeping your app running efficiently. Using things like an application logging tool – a centralized application logging solution, you can find out about problems and fix them in a hurry. The data obtained from your apps can provide a wealth of knowledge about your audience.
3. See Where Improvements Needs to be Made
Finding ways to improve the level of customer service your company offers is vital. If consumers are not getting the level of care they think they deserve, it is only a matter of time before they seek out the help of a competitor. One of the best ways to get a feel for how well your company is performing is by looking at customer satisfaction data metrics.
Checking things like the average amount of time it takes for your call center to handle a customer’s problems is imperative. If you see that this number is far too high, work on finding ways to improve it. Offering your team incentives for providing fast and efficient service is a great way to motivate them. Ignoring the need for these changes can lead to you losing a lot of loyal customers.
Often times, business owners will use various customer experience metrics to gauge the type of experience they are currently providing consumers. One of the most important metrics you need to be looking at is the Net Promoter Score or NPS for short. This metric is gathered when consumers are presented with a question about how likely they are to recommend your brand to others. This question will ask the consumer to rank their experience on a scale of 1 to 10.
If you notice you are getting a lot of lower scores, it is evident that changes need to be made to improve the public perception of your company. Collecting data on how easy it was for a customer to place an order with your company is also important. The more information you have on how your company is performing for customers, the easier it will be to find the right improvements to make.
4. Use Data to Streamline the Customer Experience
Most people view their time as extremely valuable. This is why most consumers avoid wasting their time with a company that is not interested in streamlining the services they offer. Routinely auditing the customer care systems you have in place is a wise idea.
Looking at the data produced from these systems is a great way to see where changes can be made. In some cases, an outdated phone system or inexperienced employees may be to blame for these issues. By finding the source of the problem, you can devise comprehensive solutions to solve them in a hurry.
5. Connect With Customers on an Emotional Level
The more data you collect on your audience, the easier you will find it to paint a picture of who they are. With this information, you can figure out how to appeal to the emotional side of your audience. Using things like social media comments or even formal surveys is imperative when trying to figure out what makes your audience tick. Most people will be more than willing to give this information to a business they trust.
When trying to collect emotion data, you need to think about using things like customer surveys or even text analysis. A text analysis tool will allow you to scan social media communications and even call transcripts. This is done in an attempt to analyze the emotional state of a particular customer.
Some businesses even employ the practice of using secret customers. This is a practice that involves sending an employee in as an undercover customer. The employee will document their journey and the emotions they felt throughout.