Staying competitive in today’s business environment means connecting with your customers. It’s why 84% of customer service and support leaders cited customer data and analytics as “very or extremely important” in a recent Gartner survey.
Simply having that data isn’t enough to gain a business advantage. To unlock the true power of customer data, business leaders need to establish real-time customer insights that bring an innovative experience.
A customer insights solution can collect and analyze data in real time, becoming a pillar of a company’s growth strategy. Put It Forward does this by leveraging the power of data in motion to identify key events as they happen, providing a customer insights solution that truly evolves a business.
With this technology in place, business users have the most effective means to turn actionable customer insights into real, long-term growth.
What Are Customer Insights?
Connecting with customers on a level deeper than what was possible before is key to customer insights. While the sheer depth of potential insights is vast, the customer insights approach is a simple three-pronged process:
- Centralize Customer Data
- Analyze The Customer Journey
- Review Data and Provide Trusted Insights.
While the process itself is straightforward, each individual step is far from simple. Customer data grows exponentially as a business expands, making tracking the right insights more and more difficult. Customer journeys evolve, and assessing the right level of understanding is no small task.
By capturing data in real time, business leaders are able to ensure consistent oversight of their end-user experience. Applying the three-step approach as events happen establishes a much more cohesive process of benefiting from customer insights.
Benefits of Customer Insights
Business leaders have long known that customers respond to personalization. One report found a whopping 80% of customers admit preferring the personalized service.
Put It Forward’s customer insights solution enables this type of personalization by automatically identifying the highest-value data points. Sales, marketing, and customer service teams spend less time sorting through the data and get insights faster and more accurately than ever before.
The benefits don’t end there. With a customer insights solution, you can also:
- Create emotional connections with customers
- Determine more accurate price points
- Iterate products based on user feedback
- Market the right product features
- Predict and reduce customer churn.
Put It Forward customers who leverage real-time insights across their organization have benefited in the following ways:
- 80% of companies have achieved an ROI within three months thanks to streamlined workflows, more efficient task completion, and faster market delivery.
- These same organizations are 10x more accurate in decision-making, helping to prevent customer churn and revenue losses while shortening the sales cycle.
- More high-value opportunities lead to as high as 80% sustained revenue gains.
Implementing Customer Insights In Your Business
To start reaping the advantages of customer insights, focus on these four dedicated steps:
1. Establish your business goals. Understanding what you want to achieve allows you to utilize data and events more accurately. Consider expected duration, investment from management, and most importantly the team members who will be part of the process.
2. Focus on your target audience. Remember to avoid casting too wide a net. Narrowing your audience helps you more closely achieve your business goals.
You may focus on repeat customers, cart abandonment cases, those at risk of churn, or another audience. The insights you gather can be applied to a wider audience later.
3. Decide your data. First-hand information gathered from your site surrounding your audience helps drive insights. As with your audience, honing in on specific data that points to customer behavior, such as their history on your site or interactions with your CS staff, is the right way forward.
4. Transform data into insights. Put It Forward’s customer insights solution helps collect and analyze large volumes of data in real-time. With its help, businesses get high-quality insights they can trust to use while developing new business strategies and setting up new goals.
Key Takeaways
A full 84% of leaders in customer service and support emphasize the invaluable role of customer data and analytics. The true competitive edge is gained not solely from collecting this data, but from leveraging it in real-time to transform customer experiences.
By centralizing customer data, meticulously tracking the customer journey, and deeply analyzing the acquired data, you can improve your customer insights process. The challenge intensifies as businesses scale, and the sheer volume of data can become overwhelming. That’s where Put It Forward’s customer insights solution comes in to provide the scale and utility driving growth.
Starting on the right foot involves defining business goals, honing in on a target audience, curating relevant data, and transforming this data into actionable insights. You don’t need to go it alone.
With Put It Forward’s embedded insights solution, business leaders can capture and act on insights with no coding knowledge at all. This no-code environment enables a scalable, effective solution to identifying and acting on intent, delivering true results from data in motion.
