How can startups use Customer Analytics?
In the age of data, Customer Analytics
Customer data is vital in running any form of business in any domain. Analytics is the tool that will do the insights mining and suggest your future course of action. Customer Analytics is such a powerful tool that it could actually accelerate the performance of a startup, if used intelligently.
Customer Analytics is in fact the mantra to understand your customer in depth, which will drive efficient customer support and in turn will get you delighted customers. And it’s known to everyone, that your loyal customers will always give you the chunk of business you wanted. Customer Analytics is not a rocket science and the myth of it being used only by big firm is also no more existing. More and more startups currently bank on Customer Analytics to generate their revenues year on year.
Tracking customer helpdesk
Customer helpdesk is the major touch-point for the customers. A constant tracking is the very first step in Customer Analytics. Converting each customer interaction into meaningful data, you could analyse the wow points and the paint points faced by your customer. The data could be further sliced and diced into various customer segments to understand various correlations of their behaviour with your business inputs. These customer data can help analytics to pin point where to focus in order to decrease the customer dissonance.
Measuring the right metrics
To understand the pulse of your customer, you should use the right metrics for the Customer Analytics. Intelligently start capturing data of your customers from their online buying pattern, their social media comments, their store visit details and take comprehensive feedback on your marketing initiatives. Measure their engagement levels with your various marketing interventions, the right fit will give you better incremental revenues. Keep a check on the grievance resolution system and have a quick escalation mode. This ensures increased retention and conversion rates of your customers. Measure and track customer value, so that you could gauge the actual value of your relationship with them. Have a robust KPI to assess the overall system.
Embracing technology for Customer Analytics will definitely give your startup a competitive edge. Cloud based technologies can be availed to capture customer data, retain it and analyse the nuances of customer behaviour. Customer support team should be provided with strong CRM platform to collect all information related to customer. SaaS also makes it easier and affordable for the startup to deal with data analytics. Customer service software with advanced analytics, predictable solutions, comprehensive metrics with visuals dashboards and reporting makes a perfect match.
Startups that make informed decisions based on data analytics will definitely score high on customer services. Data should be monitored routinely to understand the emerging patterns of customer behaviour either online or offline. Use predictive analysis to address those glitches, if any. Customer service is a constant improvement process and hence close monitoring is required.
End- of- the- day customer analytics will reflect the data being captured. To improve the data, one has to implement proper protocol to make customers happy. A happy customer is a satisfied one. If analytics could tell us what is it that made him happy, then the same could be replicated across various segments to increase the delighted customers’ base.
How have you used Customer Analytics to your advantage? Do share your views.