By Lauren Fenthum <--- To View/Save This Infographic Please CLICK HERE
There is an expectation that your brand has gathered enough information about customers, that you understand what they need and also how to speak to them. A recent report done by MIT Sloan Management Review shows how companies can better engage with their customers by using analytics. The report finds that companies that are innovative and analytically advanced gather data from multiple sources. The use of data and analytics allows companies to use intelligence to gain feedback, and thus heightens customer satisfaction. Analytics can be a means of crafting effective conversations. This allows organizations to predict conversations before they happen. This is somewhat manipulative, however, it is a form of storytelling, in which an actionable message is based on individual needs and preferences. The process is built on a cycle of conversations with clear benefits for all participants, by knowing what drives a customers decision-making, you can thus use this information to influence them in a specific way. Now that you know how to use data to engage in conversation with consumers, you can start leveraging information that will benefit your brand, this is where predictive analytics comes in hand. This is not a new trend; marketers’ trying to predict what their consumers will do next has been done for years. Predicative analytics breaks down chunks of data, which allows marketers to better predict future events. Start with creating baseline data from your marketing and sales departments; this will help increase your ROI.
Gathering information on your customer’s habits and tastes is beneficial to your brand. Below are four tips that can help you improve customer engagement through analytics:
- Develop a strategic vision- Look at ways to quantify the value of the data by tying it back to what you want to accomplish. If you want to build a more engaging customer experience, you can use the date to personalize all interactions and strengthen a customers bond to your brand.
- Plan out your next steps- Timing is everything. Take on more forward-thinking data points. Where is the customer in the buying experience, and what will motivate them to complete the purchase? Make sure to plan out your message so that it reaches your customer at the right time and when the most direct impact will be made.
- Refrain from looking at data in isolation- The bigger picture should focus on the combination of elements within a data set. Ensure that all the data collected is relevant and actionable by being deliberate with your actions from the start.
- Allow room for failure- Failure can feed your innovation machine. Look at hiring a specialist to train your staff in understanding how to find the value in data sets.
When done right, analytics can help track and scale not only products but it can also improve engagement with your customers. It starts with the consumer vision and informs your next steps in customer communication. Keep your interactions authentic and use data to target your messages; this will put you onto the path for success.
