In times when the customer experience is decisive for the success or failure of a company, a better understanding of the customer journey ensures a clear lead over the competition.
Indeed, a Forrester study found that leaders in customer experience outperform laggards by nearly 80%. This can only be achieved with the knowledge of an effective customer journey analysis.
With the right platform, you can remove the guesswork and empower your business to tackle abandoned purchases right away. You can then use the knowledge you have gained as a basis for your future action.
- Consolidation of data from different tools and sources to provide the company with complete and accurate data. If only part of the data is available, it isn’t possible to understand all customer interactions and a customer’s value to the company. This places a focus on the technical aspects of data integration as well as data protection issues against the background of the GDPR: e.g., you can start by connecting data from some key sources like your CRM, online store, and email data to understand how engagement with your marketing communications is affecting sales and conversions. It is crucial that all data is in one place so that you don't have to jump back and forth between different platforms and data sets.
- Data is actively searched to identify key events from thousands of activities. Combined with automated alarms to identify important potential for conflict or significant events such as particularly large purchases, it is possible to see how different segments react to campaigns and how customers migrate between segments. That way, you can understand the monetary value of each journey and identify which journeys are particularly important to your business results. Use data to begin to understand the patterns of journeys.
- Customer journey analytics give you the answers to your most important questions, such as how to better understand customer behavior or what are the reasons for changes in engagement and activity? When you're ready to take your analytics to the next level, you can start using predictive analytics methods such as profiling, churn, or clustering.
- Put your findings into action. Find out what gives the best results and try to translate that across multiple customer journeys. Understand how you must design and implement the journey to achieve the business goals and keep track of various journeys and touchpoints. Understand which areas are particularly well suited for automation. Start with relatively simple event triggers such as birthdays or abandoned shopping carts and go to multi-stage, cross-channel campaigns that support the customer journey and are tailored to the respective phase the respective customer is in. By automating their communications, marketers can reduce the amount of manual work involved, thereby improving speed and engagement.
- Continuously improve and refine the customer journey by identifying and eliminating problems. Find out where and why abandoned purchases occur so that more customers can go through a smooth customer journey and, as a result, have a much better customer experience. For instance, start by alternating the channels for non-responders within your automated multi-stage campaigns to improve engagement and results. Use this as a basic building block to implement more advanced techniques like campaign prioritization and optimization.
By knowing what is most important to your customers, you can not only meet their expectations, but even exceed them – and that promotes loyalty and ultimately your business outcome. (Source: Apteco Whitepaper)