How Product Analytics can be used Enterprise-Wide for a better Customer Understanding
Retain More Customers with Big data Analytics. Find out how!
A company can not survive with just strong and aggressive acquisition strategies. Having a solid plan to retain your current customer base should be a priority for any organization in today’s extremely competitive market. According to Gartner, 80% of your company’s future revenue will come from just 20% of your current customers.
Big data analytics plays a major role in helping and easing customer retention activities by providing enough insight into your account especially the one at risk of churning. Let us look at some common examples of how you can use your Data Analytics engine to achieve maximum retention.
Personalized Marketing campaigns
Companies can use Big data analytics to segregate customer/prospects group to deliver personalized and targeted marketing campaigns. The responses of these campaigns can be then matched with the sales order data to identify the efficiency of the personalized content and overall campaign success
Customer Sentiment Analysis and Automated account management
Data analytics can be used to capture and analyze a large volume of feedback data and capture the sentiment of the customer that can help the account manager to deal with a customer at risk of churning proactively.
CRM and Data analytics can also be connected to track customer feedback and this can help both the sales and product teams to identify opportunities to develop and sell products based on the customer requirements
Faster time to resolution with Modern data analysis
Customer service Managers can connect their data analysis systems with Customer service software to manage the customer support requests and tickets proactively and this results in faster case resolution.
Online Customer Behavioral Analytics
Analyzing the customer behavior on the web presence like onsite search, click-through pattern and navigation patterns can really help narrow down the priorities and requirements of a customer. In turn, giving more insights for sales and product teams to help them strategize customer retention activities
About Bizintel360
Bizintel360 is one of a kind solution that has all the capabilities customers look for in a BI solution. It is a fast, easy and secure solution that gives the power of advanced data analytics in the hands of business users . And to top it all, the product trial is completely free with no credit card requirements or lengthy registration process.