Tag: Customer Experience Analytics

Customer Experience Analytics

Customer Experience Analytics in the Telecom Sector: Why it Matters?

Business Challenge

Today, telecommunications service providers across the globe are facing very low customer satisfaction levels and high attrition rates. The magnitude of these challenges have increased as the use of multiple communication channels has become a standard business practice. Owing to the proliferation of technology, customers today are accustomed to switching between channels and expect a personal and consistent level of service throughout their journey. Customers can use human touchpoints, such as kiosks, online customer support services, or use self-service touchpoints such as interactive voice response (IVR), and applications. This expectation requires your organization to adopt a more holistic, customer-centric approach to meet their demands and streamline business processes.

The client, a well-established telecom service provider based out of the United States, faced several such predicaments due to their inability to track and monitor customer journeys. The company owns several brands and supports its customers with more than 30 contact centers and 30,000 agents worldwide. The client faced many challenges, starting with very low first call resolution (FCR), very high transfer rates, low digital channel containment, and very low IVR containment, which caused high dissatisfaction and attrition rate. These low key performance indicators were a direct result of the lack of visibility to the complete customer journey, encompassing all touchpoints.

Customer experience analytics can help you enhance customer experience and improve brand affinity. Request a FREE demo for detailed insights.

The client was looking at leveraging customer experience analytics to understand the comprehensive multichannel journey of its customers. Through this engagement they also wanted to find answers to the following questions related to customer experience journey:

  • How many channels are your customers using?
  • How many customers contacted you through a single channel?
  • How many customer journeys are there in a month?

The client chose to leverage Quantzig’s customer experience analytics solutions to address these challenges and bring about considerable changes by effectively tracking customer experience metrics. We adopted a comprehensive approach to helping the client improve the customer engagement process across multiple touchpoints.

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Solutions Offered and Value Delivered

Quantzig’s customer experience analytics experts adopted a holistic approach that revolved around the application of progressive customer experience analytics to the client’s considerable database of transactional, behavioral, product, and demographic data. This helped the client to proactively address customer concerns and reduce customer churn by analyzing customer journeys and identifying reasons for customer churn.

Our customer experience analytics experts also created an interactive dashboard to ensure that the client’s sales and marketing teams have easy access to the insights generated from customer journeys. The client now has a better understanding of its diverse customer segments. In addition, the devised customer experience management framework helped them improve customer targeting by offering deeper insights into the impact of their offerings. This has enabled the creation of a new customer experience strategy that aims at customizing their marketing initiatives to suit the needs of their customers. As a result, market penetration and presence have expanded and the client predicts a better return on investment from their marketing campaigns.

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The insights obtained from this customer experience analytics engagement also enabled the client to:

  • Understand customers through real-time analytics
  • Increase average revenue per user (ARPU)
  • Enhance customer service and manage customer expectations to keep consumption high and cost of support low

How do you improve customer experience?

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customer experience analytics

Tips to Improve Customer Retention Using Real-Time Customer Experience Analytics

What is customer experience analytics?

The analytical approach to understanding and examining customer feedbacks by leveraging the use of structured datasets related to the buying patterns and demographics of customers is known as customer experience analytics. Customer experience analytics takes into account factors that drive customer sentiments and satisfaction and combine it with performance metrics to measure the success of customer experience management programs. Smart routing, filtering, and front-line response capabilities form a part of customer experience analytics that empowers companies to engage with customers effectively and connect with them personally. Customer experience analytics acts as a silver bullet in today’s competitive marketplace where companies are competing for market share, customer acquisition, and customer retention. 

Our customized customer experience analytics solutions help companies to predict future buying behaviours of customers to deliver relevant offers that attract them. Request a FREE demo right away to gain better insights.

Benefits of customer experience analytics

#1: Helps in offering personalized services

Today’s digitally empowered customers don’t just want any service that caters to their need. They look for websites and services that are personalized and can recognize their preferences and interests and save their time, without them even realizing it. This is not just true about specific customer segments but for individual customer experience too. Businesses can devise a powerful customer experience strategy by measuring customer experience metrics through customer experience analytics dashboards in real-time. Such analytics dashboards offer tangible benefits to businesses and boost customer retention dramatically.

#2: Helps improve market expansion efforts

Customer experience analytics helps in identifying the factors that are working for the business and factors that are not helping the business in any aspect. If a business fails to identify and analyze such factors, it is highly likely that customers will move to their competitors’ services or website. Analysis of such factors helps you uncover a lot of opportunities and understand the penetration level of your business. Also, it helps to analyze the percentage of your target market that can further help in offering personalized services to improve customer experience.

Quantzig offers strategic analytics services that enable businesses to identify factors responsible for customer churn and develop effective strategies to boost customer retention. Request a FREE proposal to know more about our portfolio of customer analytics services.

#3: Improves response time

Today’s customers are using their voices faster than ever. They hop onto various social media platforms to share their experience good or bad and therefore, having a good customer experience management system has become crucial for businesses. The only way to arm yourself in such a competitive landscape is to use customer experience analytics to improve your response time and proactively fix customer experience issues even before they arise. Customer experience analytics offers actionable insights into customer data that can enhance engagement, experience, and improve sales.

#4: Aids in enhancing the customer journey

Availability of immense data can help companies to improve customer journeys, but only when they have proper customer experience analytics solution in place. Companies who still focus on legacy structures or traditional approaches to serve their customers will not succeed because of their resistance to change. Embracing customer experience analytics is the key to improve your customer’s journey and make them feel valued, cared, and engaged.

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A Step-by-Step Guide to Building a User Journey Map

While building a product it is easy to develop a tunnel vision. Companies spend a lot of time thinking about every single process and every little feature running under the hood. But the interface of the user is different for your product. They have no reason to care for your product or service until you show them what it can do for them. Turning first-time users into long-term customers require a very good understanding of what your users want and where are they coming from. This is where user journey maps come into the picture. 

Creating user journey map can help a company to keep its user motivation at the front of the mind, create the best customer experience and get users where they want to go. By using a user journey map, it is convenient for companies to make granular but pivotal tweaks that can help users accomplish their goals faster and easier, come back to do it again, and build habits around your product or service, all from your onboarding user experience. But in order to understand how people actually use your product or service, it is important that you first understand the essence of the whole experience from the perspective of the user and a user journey map can shed light on that.

At Quantzig, we understand the difference that a user journey map can create for any business. And to help companies excel in the competitive landscape, our team of experts has designed a step-by-step guide to building user journey maps that can assist companies to get into the minds of their customer and analyze their pain and needs to provide better customer experience and improve ROI.

Precisely predicting future buying behavior of customers is not an easy task for businesses. Customer journey mapping tools may hold the key to success. Get in touch to know more about the benefits of our customer journey analytics solutions.

What is a User Journey Map?

A user journey map is a timeline of user actions that explains the relationship between your brand and its customers. It is a visualization of the interactions of a user with your product or service from their point of view. Customer journey mapping tools help in creating a timeline of all touchpoints between a customer and your organization. The user journey map helps your company to gain insight into how customers experience your product, based on their unique goals and motivations. Mapping out the experiences of your users enables you to understand several important factors that shape the overall impression they will walk away with.

Steps to Build a User Journey Map

Before creating a user journey map, it is very important that you review the goals of your business or service. This insight can help you align user and business goals.

Step #1: Define the behavioral stage

Your customers might go through different stages while navigating your site and this depends on your business type. These different stages provide a detailed insight into the changing behaviors of the customers. Companies through qualitative and quantitative research will have a fair idea of the process that the customers go through right from the first touchpoint to the eventual process of purchasing and subsequent interactions. This will result in the creation of a useful user journey map.

We understand the challenges companies face in identifying and curating high-value customers to develop marketing strategies to maximize profitability. Our user journey map solution provides best-in-class frameworks to identify factors for customer churn and develop effective strategies that will improve customer retention. Request a free demo below for more insights.

Step #2: Create a user persona

A user journey map is always focused on a user persona who experiences the journey. Therefore, to build a rigid user journey map, it is important that you create a user persona based on the information you have about your target audience. User persona should always be created based on information you have about your target audience. That’s why you should always start with user research. Having solid information about your users will prevent you from making wrong assumptions.

Collect and analyze the available information about your target audience:

  • Interview your potential users
  • Administer contextual inquiry
  • Analyze the user surveys results

Step #3: Define different scenario and user expectations

The scenario explains the situation that the user journey map addresses. It can be both real or anticipated. For a better user journey map, it is also important to define what expectations a user persona has about the interaction.

Step #4: Create a list of touchpoints

Touchpoints are user interactions and actions with the product or business. It is important to examine all major touchpoints and all channels associated with each touchpoint to create an effective user journey map.

Are you facing difficulties in quantifying and forecasting the value of individual users across dimensions such as time, product lines, and segments? Request a free proposal to understand how user journey mapping can help.

Step #5: Consider user intentions

For any business to create an effective user journey map, it is important to understand the factors that motivate the user to interact with their product or service. Additionally, it is also crucial to analyze what solutions are users looking for in a specific product or service. Different user segments will have different reasons and different goals to accomplish.

Step #6: Sketch the journey

Now in this step, you need to put together all the accumulated information and sketch out a user journey map in a step-by-step format. You can start by making a unique and general user journey map. The information you gather allows you to create a timeline of user interactions with your product and brand. This timeline can include things like:

  • Touchpoints of user
  • Benchmark actions and accomplishments
  • Scheduled notifications

Step #7: Validate and refine user journey

User journey map should result in truthful narratives and not fairy tales. Even when a customer journey is based on user research, it’s important to validate it. You need to use the information from usability testing sessions. Customer journey analytics can tell you that your journey resembles a real use case. The last but not the least is to gather and analyze the information about your users regularly to make your user journey map give you optimum results.

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Customer Analytics: A Step-by-Step Guide to Drive Customer Satisfaction and Revenue

With the rapid growth of companies in today’s technologically inclined world, it becomes very difficult and tricky to understand customer needs. Companies struggle to engage effectively with their customers due to the dramatic change in customer behaviors. As much as they would like to reach out to their customers, there’s no pragmatic way to it, as that is how the cookie crumbles. In fact, this is the biggest challenge that companies face today due to which delivering the best quality products and services along with the best customer experience have become a tedious task.

Failing to provide the best customer experience and analyzing customer data are prime factors behind the unsuccessful stories of businesses in this customer-centric era. So, companies need to recognize the patterns and trends of their customers’ behaviors while utilizing the massive amount of data they have. This is where customer analytics solutions help. Customer analytics results in better all-around decision making and paints a more precise picture of the different touch points in the customer journey. Companies need to unearth both opportunities and shortcomings to leverage into better strategies. Customer analytics solutions can dive into complex use cases with the use of machine learning and big data. Consequently, actionable roadmap to achieve desired outcomes and sharper predictions about the future falls into place.

At Quantzig, we understand the impact that customer analytics solutions can have on your business. And to help companies stay ahead of the curve, our team of experts has provided a detailed guide and useful tips on customer analytics that can assist businesses at any age.

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How to Get Customer Experience Management Right?

How consumers feel and think about your company is a reflection of how you treat them. So, if customers are disappointed with the quality of your product or service, it will make you a subpar brand in the eyes of customers. This is where customer experience management helps. Customer experience management is not only about serving your online customers, but it is also about knowing your customers completely. This can help you deliver personalized experiences that will convince them to not only remain loyal to you but also to proselytize to others about your brand. Customer experience management becomes much easier Contact USwith the help of customer experience analytics.

Customer experience analytics helps you to step up your management game by analyzing all the touchpoints of your customer. It helps in tracking consumer behavior, recording support interactions, and questioning the reasons behind customer dissatisfaction. It also helps you realize that from Facebook ads to packaging to service calls, it is necessary to evaluate all to know how you listen and respond to your customer. In this article, we have listed out a few simple steps to guide in getting your customer experience management right. But before probing into those steps, let’s understand why customer experience management is important.

steps to getting customer experience management right (1)

Why is customer experience management important? 

  • To strengthen the preference of brand through differentiated experiences.
  • To improve revenue with new sales from word of mouth and incremental sales from existing customers.
  • To boost customer loyalty through memorable and valued customer interactions.
  • To lower costs by minimizing customer churn.

Key steps to getting customer experience management right 

Build and maintain complete customer profiles

To deliver a stellar customer experience, you have to know your customers better than ever before. This means building and maintaining complete customer profiles to help you analyze and measure your customers’ journeys at every touch point across multiple channels. The more you know your customers, the more effective you will be at delivering relevant offers to them. Furthermore, the relevant offers help you to develop closer relationships with your customers, driving retention and loyalty. Also, by analyzing structured and traditional data in conjunction with nRequest Proposalewer types of data, you can:

  • Learn the strategy to improve the customer experience at specific touch points.
  • Understand the demands of your customer and their expectation.
  • Make faster and better decisions.
  • Personalize your customers’ interactions.

Personalize the interaction

Once you have a thorough understanding of the customer, you can use that knowledge to personalize every interaction. It is very important to focus on the customer and the context in which the customer operates. This can help you to deliver relevant, recommendations, insightful offers, advice and service actions to your customers. It is necessary to remember that customers have more power, presence, and choice than ever before. If you don’t provide them a relevant, personal, timely, and insightful message, you will alienate them immediately. But if you do, you will easily drive brand loyalty.bannerqz

Right message at the right place and the right time

It is necessary to map analytics to particular stages in the customer lifecycle to improve the customer experience and deliver the maximum value at each customer touchpoint. This helps you deliver the right message at the right place and time. Each stage of the customer lifecycle is important, starting from initial consideration to active evaluation to the time of purchase and even the post-purchase experience. Customer experience analytics can offer the opportunity to improve the customer experience at each stage. And every stage is an opportunity to gain detail insights that can be implemented in your marketing processes for the future.


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Using Location Analytics to Boost CX: All You Need to Know

Analytics has become an indispensable component of online retail, but why is it that only a few offline retailers employ advanced analytics that tracks customer behavior in their physical spaces? As a result of this, most companies are flying blind when it comes to an understanding their customers in the analog world. But this scenario in the retail industry is all set to change with modern retailers setting examples of success by using analytics solutions in their business. In today’s highly customer-centric retail sector, understanding your customer is the foundation stone to building a successful business. Location analytics is one such analytics trend that has caught the attention of many players in the retail industry.  Free demo

What is location analytics?

 In a nutshell, location analytics can be defined as the ability to gain insights from location data. From the user data collected, the data on the geographical location of customers often remain unused. The location data of users could include a city, country, or as specific as the GPS location. When companies in the retail industry place this data within the context of big data dashboards and data science models, it allows retail companies to discover new trends and insights. This is what is termed as location analytics. In retail, location sensing technologies generally require customers to use the retailer’s app and grant permission to track their location in return for a reward. In this case, the customer’s location is determined by the phone’s GPS or, more accurately, via Wi-Fi or beacons.

How will location analytics benefit retailers?

 Location analytics can offer benefits to customers that they wouldn’t have thought of before. Some of the use cases of location analytics in retail include:

Assess individual performance

Being connected with the customers, allows players in the retail industry to know where, when, and how they go through your store. Retailers can assess the productivity of a particular sales area by eliminating or changing the location of the inefficient areas. For example, if the location analytics show that most of the customers coming to your stores are students between the age group of 18-25, it becomes irrelevant to display kids related stuff on the front shelves. Even the items displayed on the top shelf or bottom shelf have different attractiveness index. If planned well, companies in the retail industry can increase their conversion rates with the help of location analytics.

Personalize shopping experience

Increasing the level of customization is the key to stand out from competition and maximize profits. With the help of location analytics, companies can determine the traits of customers in a particular location. This information would help them to personalize the customer experience in line to meet the demand. Furthermore, product availability and the ease to locate it inside the stores are two factors that could build customer delight. If customers are using the mobile app to locate a particular product, this could also be used as a means to promote different items using personalized marketing campaigns. The feedback from repeat customers might help retailers to customize their products and services accurately building brand awareness and credibility among others.

Combine location with enterprise data

By connecting shoppers’ behaviors with merchandising, store operations, marketing, and space planning data sources, a fresh mound of data about a retailer’s in-store environment can be analyzed. This new data can help to attain improved retail execution by aligning headquarters, distribution centers, and the stores around a single source. Innovative visualizations then assist retailers in optimizing their footprints and assortments.


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Transforming Customer Journey with Predictive Sales Analytics

Predictive sales analytics hold the potential to anticipate and understand consumer behavior and identify shopping patterns that help facilitate positive customer engagement. Earlier, organizations followed a transactional approach towards its customers, thanks to the automated software systems that Free demomechanized tasks, reduced costs, and streamlined operations. The old ways of managing customers by making use of intuition and guesswork instead of data are redundant in today’s competitive market. With the increase in consumer awareness levels, easy accessibility, and wide availability of similar products and services, consumer loyalty has decreased. Here’s where organizations can leverage predictive sales analytics to transform customer journey at every stage in the sales process.

Predictive Sales Analytics and Stages in The Sales Process

Fact: Application of predictive sales analytics proves beneficial at every stage in the sales funnel, right from pre-sales activities to post-sales services. Predictive and business analytics help develop a sales strategy based on insights that optimize the customer experience and journey through every stage. Data analytics tools enable the business to create a loyal consumer base and lower the customer churn rate. But how is this possible, you ask? Here’s how.

  • Pre sales and leads – Predictive sales analytics tools help in understanding the various traits and aspects of the current customer base and identify the potential customers who would be interested in the products and services offered by the business
  • Sales – Advanced data analytics tools help in developing cross-selling and up-selling sales strategies that enhance customer experience and boosts profits. Businesses can strategically implement these sales tactics by bundling their products and offering product purchase suggestions to provide value to customers by making informed yet personalized suggestions
  • Post salesPredictive sales analytics solutions help businesses to build consumer loyalty and lower customer retention rate by keeping in touch with various communication messages and loyalty programs. The advanced analytics tools help determine the best channel to communicate and engage with your customers to ensure success. Businesses usually interact with their existing customer base through feedback surveys, account upgrades, and discount offers that help in retaining them with the brand.

 

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Enhancing Customer Experience, The Artificial Intelligence (AI) Way

Organizations with a customer-centric strategy deliver value, enhance customer experience (CX) at various touch points, and positively impact the bottom-line results. Marketers are leveraging artificial intelligence (AI) andQZ_CTA predictive analytic tools like customer analytics to gain insights about their target market and existing customers. Artificial intelligence and big data analytics help businesses to not only streamline their processes but also in improving their customer experience. By integrating artificial intelligence and customer analytics within the business processes, companies can create a positive experience for the end-user, increase the consumer spend, build customer loyalty and drive brand advocacy to gain a competitive advantage in the market.

Customer Experience and Artificial Intelligence

Customer experience or user experience can be defined as the consumer’s perception about a brand or a product. It is essential for the organizations to direct their efforts towards creating a positive customer experience and retaining them with the brand. The costs of acquiring a new customer is five times more than retaining an existing one; thus, making it crucial for brands to offer a seamless customer journey across all touchpoints. User experience can determine the success or failure of any brand or business and can also be enhanced by integrating artificial intelligence, chat bots, or machine learning coupled with predictive analytics to leverage the customer and market insights.

How Does Artificial Intelligence Improve Customer Experience?

Artificial intelligence and chat bots help in creating personalized experiences and enabling intelligent, accessible engagement with the customers. It assists the end user to achieve their objective or offers solutions to their problems, thus, driving satisfaction and improving the overall customer experience. Artificial intelligence also enables businesses to gain insights into consumer behavior by sorting through a large amount of data generated, and helps them to navigate, understand, and enhance the sales or customers’ journey. But in what ways will artificial intelligence impact the customer experience, you ask? Here’s how.

  • Artificial intelligence allows us to leverage the data available and comprehend consumer behavior and traits through customer analytics to streamline the customer interaction process by making information available and accessible across several touchpoints
  • It leverages the overflowing and widely available consumer data through various devices and offers insights into consumer behavior and market trends. This helps businesses to incorporate personalization in customer experience by leveraging interactive applications such as chat bots e.g. Facebook messenger. These chat bots are advanced computer programs designed to simulate an online conversation with humans
  • Artificial intelligence enables conversational commerce, by piecing together individual touchpoints and completing customer journeys to enhance and re-design customer experiences

 

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Data, Data Everywhere, it’s time for a Rethink: Are you Wasting Away your Advantage?

Retailers want customers, and customers want reliable and friendly retailers. The equation looks fairly simple until the element of competition is inserted into the picture. Devoid of any monopoly, the customers find themselves in a sea of choices and retailers must work extra hard to sustain the footfalls at their brick-and-mortar establishments and/or online portals.

The tragedy of this scenario is that, a form of abundant customer generated data is floating about, untapped and unused, that could potentially offer retailers the tools to tap into copious profitability by way of improved customer engagement and loyalty. The popular axiom of ‘just a click away’ bodes well with this qualitative and quantitative data.

Understanding the Customer Lifetime Value with Actionable Insights

The modern customer engages in a lot of online activity. His/her personality and buying habits can be accurately gleamed from the various social media sites, interactions with the retailer’s online properties, engaging surveys and third party sources. This is a veritable goldmine of information.

However, this information is also highly fragmented and encased in individual silos that may not be immediately perceptible. For a retailer to understand the customer’s lifecycle, and the latter’s relevance as a profitable addition to its own customer engagement strategies, the aforementioned data must be collated, analyzed and meaningful insights must be sourced from them. While a single source or two shouldn’t be a problem, putting together all the data from a single customer, as posted across multiple platforms, will be hard to compile and infer from, manually.

The trick is to represent this customer insight in a visual format that makes immediate sense to the retailer and is highly compatible with the latter’s existent marketing and promotional formats. Mapping an individual customer’s journey will help the retailer understand the major milestones and problems faced through a typical buying cycle and help the latter improve its own supply chain and logistics initiatives.

Next, employment of niche customer retention solutions will ensure that your target audience will likely remain loyal to your brand and avoid jumping ship under the most irresistible temptations. By offering customized offers, special discounts and interest specific deals, not only is the retailer strengthening the bond with the customer, but the latter is also made abundantly aware of the tightening commitment. Under such situations customer loyalty is boosted and the brand gains a staunch ambassador.

Bonhomie with Analytics- Woo Your Customers the Right Way!

Thus, while the data is abundantly available- the insights might need the intervention of an advisory partner that deals with such specialties as predictive analytics and customer experience analytics. The focus will be the usage of advanced visualization tools that will spin out meaningful insights from the horde of structured and unstructured data, and customize the same to match the retailer’s requirements and limitations. Retailers can now focus on the individual and profit accordingly.

Quantzig has proven experience in working with retail chains and helping them understand their niche audience. With an abundance of experienced on-board analysts, reliance on the most cutting-edge skills and analytical tools, and core competencies across a number of industries and global markets, Quantzig should be your ideal analytics and advisory partner. Talk to Us.

“If opportunity doesn’t knock, build a door” chimed the incomparable Milton Berle. Analytics, will help your retail business build that door.

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