According to an Econsultancy and Adobe survey of client-side marketers worldwide, 65% of respondents said improving their data analysis is a very important factor in delivering a better customer experience. That was the most popular answer for the second year in a row, up from 63% in 2017.
Industry experts agree. Providing a reputable digital experience for customers is important for marketers because it is one of the main ways that brands can differentiate themselves from competitors.
To truly improve your customer experience, you have to know how the customer journey relates to your brand. Only then can you identify the types of pain points and moments of delight that you can build upon. Then you need to analyze the data. This is essential in identifying insights that become business-building opportunities.
The results of this survey are in line with previous research. A recent study by Forbes Insights and SAS found that 90% of executives worldwide who use data analytics noticed it improved their ability to deliver a superior customer experience.
And according to a January 2018 survey of US senior decision makers conducted by Verndale, big data/analytics was listed as the most important emerging technology for enhancing customer experience, cited by 63% of respondents.
While data analysis may be critical to improving customer experience, there are technical challenges to leveraging big data. For instance, identifying users and assigning attribution across devices remains a struggle for some marketers. In a Q1 2017 survey of marketers worldwide by the CMO Council and RedPoint Global, 38% of respondents indicated that customers’ fragmented digital consumption is a primary challenge in implementing a data-driven customer experience strategy.
If marketers want to upgrade their customer experience, they will have to take a hard look at revamping their data analytics.
As marketers transition into an omnichannel world where digital and retail both exist, the complexity and number of types of data increases from sales figures, store traffic and geographic behavior patterns. And many times, it’s the creative application of data that reveals new and different ways to transform a customer experience.
A fairly wide majority of Internet users ages 18 to 44 told Retail Dive in February 2018 that they would be willing to share personal information with their favorite retailer.
Older users, however, were much, much less eager to divulge personal information, even to their favorite retailer. You need to know what your customer is willing to give you in order to provide the experience they want.
Find out how J&C can help your company improve its customer experience. The result will be better retention and better business outcomes.