Customer transactions, web browsing traffic and social media interaction all create an explosion of data. But collecting a mass of data is only the first step.
Analyzing and understanding the data insights needed to drive the highest customer experience is what matters more.
In today’s digital age, data analytics is crucial for brands. Knowing what motivates customers to share information, including their needs, hesitation and intentions to purchase, can help a brand to establish customer relations strategy and boost market growth.
Customers interact with businesses on multiple channels and leave measurable tracks. With big data analytics, companies can learn about the online journey of their customers. An understanding of this journey can increase sales, drive customer acquisition and build customer loyalty by providing useful information at the right pace and at the right time.
Answering the following questions during the data analytics process will help you get results.
- Are there different customer segments or different buying journeys?
- What product features drive adoption?
- What signals cause customers to churn?
- What marketing campaigns accelerate the highest conversion rates?
There is huge value in analyzing a multi-engagement channel. With correct data sources and metrics, you can respond with targeted campaigns and social media conversation that will fit your customer’s needs.
Want to know more about big data key points? Take a look at the infographic created by the analytics platform, Datameer. You’ll find two case studies of companies that successfully gained high-value customers from data analytics implementation.