Customer Service Analytics - Site Lantern

Why should Businesses Invest in Customer Service Analytics

With countless opportunities to interact with businesses, modern customers yearn for personalized, efficient, and immediate responses and experiences. According to surveys, 32% of the customers would end their relationship with a brand after one bad experience or unsatisfactory interaction. As customer retention is cheap and impactful and as the business’s flywheel depends on it, customer service analytics becomes indispensable for companies. Customer Service Analytics is a data analytics solution by which customer data sourced from numerous touchpoints are analyzed to identify customer pain points, expectations, and needs, leading to better customer experience, retention and loyalty.

Customer Experience Analysis
Customer experience analysis (CX analysis) reveals how the customer perceives the brands throughout the customer journey and the events that happen till they make a decision. It is said that 80% of the customers value the customer experience as important as the products. CX helps businesses to get into the customers’ shoes and evaluate the products and services from the perspective of the customer. Raw data is decluttered and turned into explainable, understandable and pivotal performance indicators such as Customer Satisfaction (CSAT), Total Time to Resolution (TTR), First Response Time (FRT) and more.

Customer Engagement Analysis
In this digital age, customers utilize multiple, diverse channels such as emails, social media platforms, chatbots, phones, etc. to interact with a brand. The availability of multiple channels makes it imperative for businesses to build outlets across channels to interact with customers and efficiently handle their concerns. Customer engagement analysis helps businesses to pick out the right platforms according to their target audience distribution and design multi-channel presence and cross-channel strategies to connect with the customers. Data analytics solutions and engagement strategies empower businesses with powerful insights that shrink attrition, improve customer loyalty, increase sales and win competitive advantage.

Customer Journey Analysis
As previously mentioned, the availability of multiple interaction channels has rendered the mapping of customer journeys more complex. Big data and data visualization enables businesses to have a bird’s-eye view of the customer journey, which will eventually let the brands craft an infallible and impactful experience for their customers. Moreover, business intelligence derived from data analytics services can be crucial in optimizing customer onboarding processes and discerning the differences in customer personas.

Customer Retention Analysis
Customer retention analysis enlightens the business about the customer journey, measures that can be taken to optimize the customer journey and thereby reduce customer churn. Data analytics solutions and consumer research can reveal metrics that indicate how satisfied the customers are and strategies to keep them satisfied and loyal. It also signals when a customer is likely to leave and prepares the business to intervene with the right action before it is too late.

Follow this link to read more about customer retention and know why brands need to prioritize it in their business strategies.

Providing exemplary customer services is simple and straightforward, at the same time it is a demanding and abstruse endeavor. Visit Site Lantern website and glance through our services, through which we deliver dynamic and highly efficient data analytics solutions that will help you to understand the customers better and proffer an enriching experience to them.

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