Marketers today have the opportunity like never before to provide a highly personalized experience for their customers. The key to making the most of this opportunity is to know how to accrue and utilize the right customer data.
But how do you know what is the “right” data? And how can you use it?
On 24 January, we will help you find the answers to these questions through our webinar “Using Customer Insight for CX Personalization: Which Data Matters Most.”
In the meantime, we discussed the issues with our webinar speakers:
There is a lot of potential data out there to collate, but what is the data that you think matters the most and why?
Daryn Mason: This is a difficult question to answer as it’s the confluence of data that provides the context and relevance needed to deliver exceptional customer experience.
Cyril Coste: I would say that, in order to know what data we should be using, we need to appreciate what people value in their customer experience – for example, people tend to value efficiency and convenience.
Mason: This is very true, but in addition to the experience being fast and convenient, it also needs to be relevant. For example, if you are aiming to deliver an offer to a shopper in a mall, you need to know the customer’s buying preferences, their physical location and their intent.
Coste: Similarly, in the travel industry, it’s really important to use past travel data to know your customers’ preferences and constraints. Using this will allow you to send relevant information and provide a personalized experience.
So once you know the personalized customer data you should be using, how can you successfully extract value from it?
Mason: I think there are three ways to do this. Firstly, you want to use personalized data in real time to present offers at the appropriate moment in a customer’s journey. Secondly, to measure the quality of the customer experience you deliver, you will need both quantitative data (How often do they shop? How much do they spend?) and qualitative data (customer satisfaction surveys and net promoter information). Thirdly, you can build look-alike audiences based on the profile of your most valued customers to repeat your success.
Coste: With travel, you can use reviews and ratings to tell you where to focus on the journey and you can also use data to create personalized content during the selling process. I find that this is currently underused – only 50 percent of travel websites do this.
It seems that there are many opportunities that are being missed. What do you think marketers should be doing to take advantage of those opportunities and to provide a personalized customer experience?
Mason: You should really place yourself in the shoes of the customer. Typically, what you will hope for is that your experience will be low-effort and high-value.
Coste: This is very much the case. Forty-six percent of consumers will abandon a brand if the employees are not knowledgeable. So you need to use your data to empower your employees to provide the low-effort and high-value experience that Daryn describes.
Mason: Customers will also get frustrated if it is clear that the brand doesn’t know them.
Make sure you use the customer information you have previously gathered so that you aren’t asking the same questions more than once.
Coste: What I find is that having personalized customer data is really useful for training staff. Well-trained staff can ensure that non-digital conversation is more effective as they are able to correctly understand the customer’s needs.
Mason: But another aspect we shouldn’t forget is AI (artificial intelligence). By applying AI and machine-learning techniques against your data can help you anticipate future needs, and thus you can also improve engagement and brand loyalty.
Coste: AI and VR are definitely big opportunities to take advantage of, as is the Internet of Things (IoT). IoT can be used to locate assets immediately and provide a better service. A brilliant example of this is the Disney magic band as it removes the need to carry cash or credit card during your day at Disney World – the wristband is able to act as both ID and wallet.
There’s certainly a lot of opportunities for brands wanting to consider how they are using data for customer experience. We shall look forward to hearing more from you both, and our own Eric Fullerton, a product marketing leader, during the webinar on the 24 January.
Register here for “Using Customer Insight for CX Personalization: Which Data Matters Most.”