Customers are already telling you what they want
Winning and retaining customers means getting to the heart of what they really want. How do they want to engage with you? What’s driving their buying decisions? What products are they excited about? The good news is that the answers to these questions are already out there. Customers are constantly leaving a digital trail, whether they are in a store, online or using their mobile. Are you able to pick up on the clues they are leaving you?
To gain an advantage—online and in-store—you need to identify, gather and leverage that information better than your competition. By using analytics and insights to get to know your customers better, you can redefine how you engage them to improve their experience of transactions with your business, and form lasting connections.
Identify each customer
How can you tell who is who?
Digital identities allow you to recognize individual shoppers and their behaviors. But how do you identify and connect with a customer in-store, online and on mobile? A single unified persona allows you to track interactions and behavior across all channels; enabling you to build detailed profiles of your customers.
Your customer might have found a product through your website or app, then visited your store to purchase in person. It’s not enough to record their interaction with the app and their purchase separately. You need a way of marrying this customer data and tracking their persona through the entire customer journey.
Of course, not all store and website visits result in a sale. But offering services like in-store Wi-Fi can enable you to identify customers even if they don’t make a purchase. So, you can turn all those browsing visits into actionable insights.
Identify customer behavior
Picking up on the telltale signs
47% of all millennial customers—and 19% of non-millennials—use social media during their shopping journey. This could be research about a product they’re interested in. It could be a post on Twitter or Instagram. Or it could be direct feedback about an in-store employee. To extract the most value from feedback you need to be able to record it, model it and understand it. And that often means bringing together disparate datasets into a single, manageable system.
Not all feedback is as easy to harvest as an online review. Customer behavior and habits can be more difficult to collect and understand, but the results can be even more valuable. Journey mapping is no longer limited to in-store, online and mobile; it encompasses all three. Retailers need to collect customer data at every touchpoint and map the entire journey wherever it may travel, or end. The goal is to put together all the pieces of information at your disposal into profiles and personas that reveal what your customers prefer and expect.
Identify the opportunity
Act on your intel
It’s no good investing in delivering an unhurried, personal service if your customers just want to grab what they need and run. But with potentially billions of customer actions across a number of channels, how do you turn retail customer data into insights? And how do you do it before it becomes outdated?
Once you’ve established the mechanisms to collect data at every touchpoint, that data needs to be fed back and processed quickly so you can make use of it. Artificial intelligence (AI) and predictive analytics offer new ways to make sense of big data and drive better customer experience (CX). They can help you see trends and behaviors that you wouldn’t have even imagined. And fast; spotting correlations and even making recommendations before a warm prospect goes cold.
Imagine if you could predict when a customer was going to run out of milk or bread—and could prompt them to purchase with a special in-app deal. By leveraging advanced analytics successfully, you can start to make more informed predictions about how your customers will behave in any given context. Then you can start to deliver truly personalized experiences for customers—and expand your revenue opportunities.
Making it happen
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