Customer Analytics

Modern marketing is about understanding customers at an individual level. This level of strategic segmentation is a prime use of Big Data technologies, and one of the big drivers for data innovation.

Customer Analytics: Understanding Customers
Customer Analytics and Strategic Segmentation

Customer 360-degree view

Customer Journey – Understanding the different interactions that a customer has with your brand and product over time and across channels can help you to improve conversions, cross across organizational silos, and upsell additional products and services.

Examples of customer journeys include:

  • Opening a new account at a retail bank.
  • Shopping for new music online.
  • Monthly billing for an online service.

Every discrete interaction provides your organization an opportunity to understand your customer, and better provide them with exactly what they need when they need it.

Customer Acquisition – Strategic, focused marketing and advertising efforts can be made more efficient with proper analytics resulting in lower costs for identifying and wooing new customers.

Customer Churn – Conversely, every existing customer retained is worth a new customer earned. Modern analytics can help your organization predict customer churn and understand which customers are at risk of leaving and what preventative actions may help to retain those customers. Customer Journey touch points can be particularly valuable for spotting the signs of churn ­and for preventing it.

Fine-Grained personalization

The ultimate customer experience is when a barista asks the buyer “the usual?”. Personal preferences are ingrained in the breadcrumbs left along the entire digital journey. can help you collect, analyze, and serve them up in each and every instance of a customer interaction. Implementation of personal profiles as active records means dealing with the challenge of rapid access and unwieldy volume. These are the very missions of Big Data engineering. By embracing the new generation of technologies, the forward looking enterprise can incorporate this ultimate degree of personalization right into their daily operations, one cup at a time.

Blend CRM data with social media sentiments

This is where the Navy meets the pirate; the orthodox meets the avant-garde. Businesses shouldn’t pretend they understand all there is to know about their customers, because the CRM is now a thousand business tables long. Consumers are attracted to coolness; what’s cool is in the Facebook likes, the midnight Tweets, and the Instagram posts.

Deciphering social media sentiment is a fascinating and perhaps daunting challenge. All the factors that motivated the Big Data movement come under one roof. The data is unformatted, sketchy, nearly impossible to authenticate and validate, and often short lived in relevance, yet likely to be highly honest. Once the author’s identity is mapped to the user ID in the CRM, the marketer gains insight about a person’s habits, range of motion, purchasing patterns, and strongly held opinions that would otherwise not be revealed in a targeted survey. This effort is one of the most important steps in completing the 360 degree view of your customers.

Next Best Action

Customer insights become gold if the business can plot the Next Best Action (NBA); the appropriate course of action that matches the customer’s individual needs. Data-driven decisions beat gut feelings, when it comes to consistent results. Predictive analysis finds the best combination of timing and marketing levers that elicits the most optimal response from the buyer. Call center operators can work off a list of “most likely customer concerns” before picking up. Visiting reps can arrive to meetings prepared with the most appealing agenda. Customer support agents can proactively offer assistance or promotional material before frustration builds.

The model itself can be retrained at the appropriately set intervals to remain effective. Through PMML (Predictive Model Markup Language), personalized NBA can integrate directly into operational systems such as marketing automation systems, call center software, consultation scheduling systems; anywhere automated or manual processes take place.

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