Using Real-Time Analytics to Drive Great Customer Experience

In today’s advanced digital age, the customer has high expectations, so there’s little room for error or compromise by any brand hoping to remain competitive in its niche market. The customer wants more quality, more convenience and more responsiveness from brands as a reward for their patronage. 

The brand user today demands a better user experience; in fact, customer experience is the top deciding factor on whether they will keep doing business with a brand.

How can businesses today stand out in the highly dynamic and competitive marketplace of this nature? By exploring real-time analytics to drive better user experience. 

The digital transformation of the market space today is driven by the need to create a greater customer experience. Therefore, working towards an improved customer experience for your existing customers and prospects using real-time analytics helps to build brand loyalty and streamlines your brand values and ethics with changing user behaviour. 

 Analysing and Understanding Customer Data 

One of the main focuses of any serious business is getting to know their customer and connecting with them. On its surface, that might sound like something pretty easy to do. After all, generating customer data and intent signals has become relatively easy, thanks to how digitised the world has become.

If you can’t successfully mine the data, it cannot translate to business growth for your brand. Therefore, it is important you apply smart data analysis using the right tools and techniques to help you understand and respond better to your target customer needs. This is what will lead to business growth.  

According to a study, 85% of business owners interviewed said using real-time analytics improved customer experience. Among other key findings of the research, it was discovered that: 

• 70% of businesses expanded their budget on real-time analytics solutions in the past year
• 58% of businesses see a significant improvement in their brand loyalty and retention figures in the past year
• 44% of businesses have been able to expand their customer base and earned more revenue since making customer analytics an integral element part of their business operations

Unify Then Measure

To make sense of the volume of customer data, you may be able to generate in your business operations and interactions with the end users and other publics. You must be able to pull all the parts together in a logical way and then break down the silos across channels, departments and teams. The consolidated data will help you see a unified view of the customer, so you can better understand and respond to their needs and expectations.

The right approach is to make sure the process is iterative. You can start on a small scale by analysing your web and app data with your customer relationship management technology. Prioritise personalisation at scale, starting with the touchpoints of your target buyer persona. Find the voice of the customer and ensure the voice of the product is responsive to and aligned with it.