Last week, in the heart of Boston, Macquarium was honored with the opportunity to speak to the good folks of the SCORE Conference on Customer Analytics. Specifically, on how analyzing customer feedback can drive loyalty through enhancing existing products and services, as well as informing the development of new ones. We were fortunate to have a wonderful discussion on a number of topics ranging from Customer Centricity, NPS, Customer Experience Planning, and Singular View of The Customer. For more context, please find my deck here: How To Drive Loyalty Through Customer Analytics
Here are a few takeaways from our workshop
A number of companies are sitting on a tremendous amount of Customer Interaction Data related to:
- Transactions and/or
- Negative Experiences.
Consistently, they are struggling to figure out how to attack this large amount of data
Questions fell into three categories:
Where do I start?
Q: “Should I start with Customer Ticket Data or Call Centered Data when beginning to search for insights?”
A: Don’t see these as mutually exclusive ideals. Figure out what is most important to you. Build out an Insights Chart that is comprised of your Wish List of Insights. Then start with Low Hanging Fruit.
Where do I go from here?
Q: “I’ve gotten some reasonable traction at the C-Level with the ‘little data’ we already have. I know I can get more out of layering-in a few more data points, but they are already showing signs of fatigue. So how do I sell this through?”
A: It’s reasonable to ease C-Level folks into the value of Customer Analytics. ROI will largely be driven by Customer Value, Share of Wallet, and Brand Impact. There are a number of case studies available to help show how brands have achieved incremental value in year 1. For example, Nationwide saving $10M on postage in the first 18months after launching a Singular View of The Customer initiative.
How do I get more?
Q: “All of my owned data is derived from negative interactions. The people coming to our site that have great experiences, find what they want and then leave without a fuss. So how do I think about grabbing their data?”
A: Customers are starting to understand the integral relationship between their owned data and a better brand experience. If you provide them with value, utility, ease, etc. they will have no problem providing you with the data that you desire. There are no short cuts here. Only relentless attention to providing more value.
Ultimately, the key to unlocking the insights of Customer Feedback is to start down the journey towards Customer Centricity by building a solid foundation for Improvisation. This will allow you to be agile enough to respond to Customer wants and needs, in realtime, in the most relevant of ways.
If you focus here, loyalty will follow.