Consumer Insights to Retailer

What is customer experience analytics?

Customer experience analytics is the process of collecting and analyzing customer data, with the goal of better understanding customer needs, viewpoints, and experiences with your products and services. It can help you to increase customer engagement and customer loyalty, understand and improve your customer journey, and direct your internal teams to take action on issues that are affecting satisfaction and loyalty.

 

What data does customer analytics use?

Customer experience analytics takes into account all the components of customer experience, including results from both direct and indirect feedback data sources.

 

Direct feedback customer data – Which has been solicited from the customer –

might include:

• Net Promoter Score (NPS)

• Customer Satisfaction (CSAT)

• Customer effort score (CES)

• Voice of the customer (VOC)

• Open text comments in customer feedback surveys you send

• Customer responses on social media

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Indirect feedback customer data – Which has been collected as a result of customer interactions, but hasn’t been solicited directly from the customer – might include:

• Average handle time (AHT)

• Customer lifetime value

• Average spend

• Customer churn rate

• Customer renewal rate

• Voice and chat metadata, transcripts, and analysis

• Social listening

• Customer review monitoring

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Knowing what feedback to collect and when is important. Customer experience

analytics offers you an overview of all your data, helping you to see trends, spot pain

points, and opportunities, and take action to improve customer sentiment and create

great customer experiences.

 

Why is customer experience analytics important?

Gathering as much data from your customer interactions is important because it gives you more power to improve your customer experience.

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The benefits of customer experience analytics include:

• Helping you to map out the customer journey more effectively

• Meeting customer needs that they may not have expressed directly to you

• Indicating where issues lie and the drivers behind them

• Understand the impact of those issues or opportunities, and what will happen as a result of your actions

• Seeing trends and patterns and connecting them to customer touchpoints

• Removing silos between departments to give everyone a comprehensive view of the entire customer journey and each team’s effect

• Removing the guesswork of knowing which actions will have ROI

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Not only do your customers benefit from having a more personalised, smoother customer experience, but your business benefits. With customers feeling like their voices is heard, with experiences that match and exceed expectations, they’re more likely to buy into your products and services. This is important, too. According to our research, 63% of consumers say businesses need to do a better job of listening to feedback. It’s an “outside-in” approach to taking action, getting as much feedback as possible before taking strategic steps with maximum impact to improving your customer experience.