Know your customers more completely using customer behavior analysis—the key to improving products, gaining new customers, increasing upsell or cross-sell opportunities with current customers, and reducing customer churn.
The need to understand customer behavior is often the way advanced analytics are introduced into a company. TDWI notes in a 2015 article that it is often the marketing and sales teams that first start using advanced analytics to better attract, engage, retain, and fortify connections with customers.
However, to be effective, customer behavior analysis must be done routinely and quickly to gain the full ROI. This is increasingly difficult given the vast amounts of data that firms are gaining about their customers. From the moment a customer even considers a purchase on a digital platform, a firm will have data about that person and their interactions with a product. This applies to B2C companies, of course, but increasingly to B2B sales, as well. Nearly 50 percent of customers will use social media, smartphones, and other digital platforms for their B2B purchases according to McKinsey & Company. These digital platforms give enterprises an ocean of data for marketers and salespeople to sift through.
But how does one plow through layer upon layer of structured and unstructured data to glean insights from customers? More importantly, is it possible to do so quickly, at scale, and in a cost-effective way?
Customer Behavior Analysis: What You Can Find Out About Your Customers—Today
With Trifacta’s data wrangling technology, customer behavior analysis has never been easier. However, even with wrangling, if you don’t know what to look for, your data won’t be helpful.
Here’s what you should note when wrangling data in order to gain insight into your customers.
Increased upsell opportunities. By analyzing what customers purchase, you can enhance your customer service representatives’ ability to provide your current customers with additional products they may need.
Personalize service. Strong customer behavior analysis will give you the data needed to personalize customer service experiences. Determine if your customers get better service using email, chat systems, or by phone.
Predict desires. Know what your customer wants before they do. Know how they will respond to certain situations, and how you can handle those situations before they arise.
Customer segmentation. You don’t serve just one customer. By connecting data silos and putting structure to your unstructured data using Trifacta, you can make more nuanced segments of your customer base. This will allow you to more accurately target your customers, which will improve ROI while increasing overall customer satisfaction with your products and services.
Find the cracks. Targeting the wrong customer is a costly endeavor. By analyzing customer behavior, you will know exactly who you are targeting, and most importantly, what resources are needed to ensure that they stay with you.
Analyze customer retention tactics. Here, experimentation is the key to success. Access and manipulate data from multiple points in order to measure the success of new tactics that are meant to gain, retain, or upsell customers.
Of course, there are a myriad of other reasons for your business to conduct customer behavior analysis. But without Trifacta’s data wrangling, gaining customer behavior insight from your data is a hurdle that is often hard to clear.
With Trifacta, There Is No Chasm To Insight Into Your Customers
Effective customer behavior analysis requires an array of data sources to come together. However, for many industries, connecting large, disparate data silos—much less putting that data to use—can feel like an insurmountable challenge.
That’s why Trifacta applies powerful data wrangling technology to your data. Trifacta’s easy to use interface makes connecting data silos the work of only a few clicks.
And for business critical decisions, Trifacta won’t slow you down. Customer behavior analysis can be conducted in near real-time, ensuring that your customers never experience a delay in receiving better services, products, and support. What’s more, the easy accessibility built into Trifacta allows anyone to become a data analyst. Decision makers are empowered to wrangle data themselves, rather than waiting on expensive and slow IT departments.
The time saved can be used to reexamine and refocus your customer experience on a company-wide scale. Since Trifacta can connect and manipulate data in a variety of formats, no customer touchpoint—whether in sales, customer support, or product usage after purchase—will go unnoticed.
Without Trifacta, customer behavior analysis is a burdensome task that is often done begrudgingly with haphazard accuracy. With Trifacta, data wrangling tools make getting the most out of your data quick, easy, and more accurate.