In the past, gaining insight into your business’ customer experience (Cx) was a matter of evaluating static, one-dimensional encounters. Today, omni-channel communications – from phone and email to live chat and mobile – have made Cx a more complex metric not only to measure but also assess. According to a recent study by Forbes Insights, the companies who will be successful into the future are those who link key backend processes with customer experience. The study, which surveyed 357 executives of large organizations, revealed several benefits to data-driven Cx, including increased revenue, reduced costs and greater efficiencies.
“The Internet of Things allows us access to vast amounts of data,” says SingleComm’s Ross Krisel. “With customer experience quickly outpacing other business differentiators, it is imperative that companies utilize all available information in creating – and, as needed, modifying – their Cx strategies.”
According to the study, the most often-cited benefit among executives is having a greater ability to target and optimize for specific customers (57 percent), as well as achieving consistency across various channels. A majority, 51 percent, also credit data-driven Cx with delivering greater context across the various channels, and close to half also cite an enhanced ability to predict customer requirements. A substantial portion of executives, 41 percent, say insights from data analytics enable them to coordinate treatments, tactics and offers across limited touchpoints, generally in batch and outbound campaigns.
The study also identified three categories of organizations, based on their progress in linking data analytics to the customer experience delivered:
Leaders: Executives reporting having “a well-developed and -designed enterprise data analytics effort enables us to deliver a superior customer experience” (52 percent).
Explorers: Executives reporting their organizations “are rapidly and systematically developing data analytics capabilities to improve our customer experience” (34 percent).
Laggards: Executives reporting their enterprises “have data analytics capabilities in many parts of the organization, and are beginning to apply these analytics to improve the customer experience”; or “are still developing data analytics, and have difficulty providing consistent customer experience”; or “are not using analytics for customer experience at this time” (14 percent)
SingleComm helps customers gain an advantage through its Analytical Solution, which provides unified data and reporting that can inform smarter business decisions. The company’s platform delivers information through real-time dashboards and historical reports that are intelligently designed and can be configured to render data in multiple ways. Reports can be saved per user to make it easy to manage information important to individuals throughout an organization. What’s more, rights can be distributed and limitations can be set for different users so that privacy and security are attained without sacrificing the ability to give access to the people who need it. “Different users have different needs for information,” Krisel says. “Our intuitive interface makes it easy to provide information in the most effective way to all user groups.”
For companies who fall into the Explorers or Laggards categories, Krisel offers the following advice. “Don’t let Big Data overwhelm you,” he says. “By partnering with an experienced technology solution provider, you can harness the power of vast amounts of information to improve customer experience.”
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