Customer Journey – Understanding the different interactions 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.