Collecting customer data for customer relationship management isn’t new. What is new, however, is the way that companies are using this data. Contact centers are regularly looking for the latest technology that will allow them to leverage customer data in order to create revenue. All types of customer data is being collected: account information, purchase history, order status, service requests and online platform preferences, among others. The keys to effectively using CRM analytics is knowing how to evaluate the data and then determining how to take the next step.
Analyze More Than Just Numbers
Modern customer information goes way beyond numbers. Customer data now includes text, like notes that a contact center agent takes down during a phone call. Traditional analytics software focuses just on numbers and patterns, but now it’s possible to analyze text data, too. Text mining can determine what topics are coming up in conversations between an agent and a good customer vs. an agent and a non-loyal customer. Text mining can also be used to divvy up new leads into categories: hot, medium and cold, for example. Further analysis occurs when the contact center follows up on the leads and determines how many in each category turned out the way that was expected.
Find Out What’s Important
In order for a brand to sell, cross-sell and up-sell the products and services customers want, the brand needs to know what’s actually important to the customer. Otherwise, it’s difficult to make the right choices about what to offer. Contact centers can shape a better view of the customer simply by asking questions or sending surveys. A brand may assume their customers will want a certain product based on past purchases, but if they’re off base, the contact center will be able to provide clarification.
Segment Your Customers
Breaking your customers up into specific groups will show you information about your clientele that you’ll probably be surprised to see. While many of your customers will fit into one big, primary category – single women in their mid-30s, for example – others will be exceptions to the rule or in the process of moving from one category to another. Segmentation has a lot of perks, one of which is that the brand will no longer waste money catering to low-value customers. Contact centers will also be able to provide more targeted service. Note that customer segmentation should be an ongoing process, not a one-time overhaul.
When a contact center is able to manage and analyze data in order to create actionable insights, they have an in-depth look at customer behavior. Customer data that you already have can be leveraged to create a better, more adaptive customer journey.
To learn more about the customer journey, join the Journey of the Connected Customer Virtual Conference March 21 – 24.