From penetrating into the market to measuring customer performance, data-driven customer analytics is focused on making it a smooth sail. It is considered as the full-fledged solution which brings more success and less stress. As a result, it has become the widely accepted concept to derive better business outcomes across all industries.
Meaning of Customer Journey Analytics
Customer journey analytics is a service built to provide omnichannel customer analysis and visualization to allow better decision-making in a customer-driven market. Thus, it is all about developing a holistic view of the business and customer-related concerns. The major components of the mapping customer journey are – analyzing customer stages, understanding buyer’s personas, evaluating customer touchpoints, and focusing on emotions. The extended concept of customer journey revolves around the following features:
- It is a fast, analysis, non – destructive querying, and modeling platform that focuses on customers.
- Standardize data from all relevant sources in the Experience platform is considered.
- Enables comprehensive analysis of all cross-channels consisting of all flow and fallouts.
- Allows a unified market approach towards strategic customer planning and market optimization.
- The customer journey analytics software provides dashboard access to business users and executives.
- It is driven by data science tools and provides deeper insight into powerful analysis.
Examples of Customer Journey Analytics
There are various real-time examples where customer journey analytics has put its best foot forward in making healthy impacts.
- The customer experience team at National Utility Service Provider witnessed a considerable rise in their profit margin. It became possible by analyzing the overdue payments to service disconnect journeys. Here, the customer overdue with more than 33 days was considered in the first place. Thus, it resulted in healthy outcomes where 22% of customers pay bills within 10 days of due or disconnect with the company.
- The retail banks make use of customer journey analytics for discovering the potential reason for new client service calls and to enhance overall operational efficiency. It includes focusing on payment request notice, defining separate communication paths like mobile, web, and IVR. Furthermore, it helps to evaluate calls volume, duration, and impacts on customers.
- The prominent tool is widely used by leading wireless and internet providers to gauge the performance of a self-service appointment system. These systems are incorporated into operations to improve the overall customer experience while reducing the cost to serve. As a result, service provider experiences high return on their investment by providing ease of access to end-users. It fetched an average increase of 6- points in NPS and is potent to save $14.1 Million with the use of this powerful data analytics.
- The luxury hotels and resorts use customer journey analytics for identifying and targeting new customers with the right offer for increasing upsell conversions. It begins by assessing the offers provided for the standardized services and customers. From here the conversion rates of the customers are determined, based on which the offer is stretched for multiple users.
- With the use of customer journey analytics, health insurance company implements customer effort scores (CES) for serving newly enrolled members. The members get the opportunity to automate premium payments. Thus, the customer response and performance are effectively tracked with data-driven analytics.
Tools Used for Customer Journey Analytics
There are several tools and softwares available in the data analytics ecosystem contributing immensely towards making the customer journey flawless.
Adobe Experience Platform
The data-driven customer journey analytics from Adobe helps to make the best out of the available data. It allows organizations to standardize and centralize data using data science and machine learning algorithm. Furthermore, it helps to improve the overall design and delivery of the customer-related personalized experience. As a result Adobe Experience Platform Architecture stores data in various sets which consist of both batches and schema,
Adobe’s customer journey analytics works in conjunction with various components from data integration to direct SQL access. It includes the following major components which allow customers to experience a seamless journey.
- Query Service to capture the query result and develop accurate reports.
- Ensure development of real-time customer profiles.
- Provides Identity Service.
- Introduces organization to data science workspace.
Medallia Customer Journey Analytics
Medallia’s customer journey analytics is the solution to all the customer needs and ensures the development of a long-term customer experience. This customer analytics platform deals with the following customer-related aspects and equips organizations with well–researched tools. It captures all the relevant experience signals using AI-driven technologies and drives them towards healthy business results.
- Providing actionable insights into customer behavior using the behavioral segmentation feature of the software. It also helps to group customers based on their experience, attributes, behavior and identify priority segments.
- It helps to optimize the overall customer journey with its powerful visualization and query tools. The tool allows the company to provide strong customer support and manage customer experience effectively.
- Moreover, it plays a crucial role in automating market scenarios for developing profound market strategies. As a result, the market campaigns are completely customer-oriented and lead to the creation of a better experience.
Pointillist Customer Journey Analytics and Orchestration Platform
The AI-driven software from Pointillist works in combination with Genesys customer experience & contact center solutions which altogether help to enhance customer experience. It is an award-winning customer journey analytics provider that connects all relevant dots relating to customer behavior and business goals. Moreover, it leads to reduced customer-serving costs.
- The software helps to identify actual paths that customers usually take and brings high engagement through various touchpoints.
- Using the software company can measure the impact of customer behavior on business metrics and key performance indicators (KPIs).
- It supports the creation of personalized customer experiences which are based on current preferences and interactions of the customer with the company.
Amplitude – Journeys
The event-based tracking software from Amplitude helps to align users’ traits with their profiles. With merely a few step taxonomy interface of the Amplitude provide access to custom events, descriptions, and related settings. The software focuses on providing deep customer analysis to cater to growing customer needs. With its machine and deep learning, algorithm Amplitude empowers business and serves with the following benefits.
- The software operates by grouping customers into cohorts that are based on their behavioral traits.
- It allows companies to visualize paths taken by every segment of users – both converted and dropped offs. It helps to develop a comprehensive view of the customer journey.
- Furthermore, it facilitates continuous experiment and adjustment to create the base for making healthy product decisions from conversions to revenue generation.
Tracking Customer Journey on Website
The customer journey on the website is tracked through distinct stages of awareness and education. Each stage focuses on developing useful insight for nudging the potential of the customer. Through the customer journey analysis, the organization gets an idea about the customer’s feedback and overall experience. As a result, it helps to ensure the suitability of the product and services for the customers. So, let’s understand how can an organization develop and track the customer journey on the website.
1. Define a journey
The basics of tracking customer website journey begin with visualizing the stages customers would go through on the website. These stages are broadly categorized as Awareness, Research, Choice, and Call to action. Thus, it is essential to understand ultimate goals to align them with the stages. The multiple data sources like surveys, customer emails, and interview transcripts play a crucial role in establishing the blueprint of the overall customer journey. Besides this, there are some of the common questions organizations ask customers for streamlining the customer process.
- How do they know about the brand?
- What made their visit and stay at the company’s website?
- How much time do they spend on a website?
- How have their past experiences been with the company, if any?
- Do they have suggestions or feedback for implementing improvements?
2. Creating website as major touch point
After defining the customer journey on the website, the organization needs to understand where customers would interact with the brand. These points which help to accomplish organizational goals and define user experience are known as touchpoints. Thus, it becomes essential to map these touchpoints and ensure proper monitoring of the customer journey. The first and major touchpoint in the customer journey is a website for which UTM (Universal Transverse Mercator) parameters are embedded into the URLs for tracking the campaign progress using UTM codes. Thus, it helps to identify traffic and evaluate their responses in the form of conversions and bounce rates.
3. Mapping the customer journey
The simplest and the effective way to map customer journeys is to create visual maps on the Create columns for each stage of your customer journey and list them down. The organization can follow the below-mentioned steps to effectively map the customer journey.
- Listing down all the possible questions to ask customers during each stage of their journey. It helps to connect customers with the organizational goals directly.
- List the performance of the website with respect to the data collected by UTM codes and compare the progress.
- Adding the action plan to bridge the gaps if found during the website analysis process and push the customer towards the next stage on the journey
4. Evaluating the progress of the journey
Using customer data analytics, which is the prominent tool to predict and evaluate customer response, is put to use for deriving true outcomes of the organizational actions. Such data-driven analytics help to report roadblocks (like high page loading time) customer faces during the website journey. Based on the qualitative research company enhances its action plan and lets touchpoints become the conversion points. Thus, the complete evaluation of the process and seeking answers for the setbacks help organizations to get closer to their goals through progressive website performance.
5. Optimizing the customer journey
Since executing and evaluating the customer’s website journey is a comprehensive and continuous process. Therefore, there exists no first and last step; it’s simply an interconnection of various stages heading towards a common goal. By implementing required changes in optimizing the customer journey organization is able to create a room full of healthy opportunities for its customer. It ensures long term association of the customer with the company.
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