Friday, July 15, 2022

Understand Your Customers & Open Up a Gold Mine

Some modern-day products were well ahead of their time. The personal computer (now branded as desktops) or portable phone (smartphones) are some examples of peerless products that come to our minds. The present versions of these products are nowhere near the original. That is because of the constant evolution of these products, largely due to constant feedback from customers.

Customer feedback is a key element to help companies to improve their product as well as the digital experience for customers. Customer feedback will also enable companies to understand how people view their product and where to plug the gaps in customer satisfaction. In addition, seeking feedback can make customers feel truly valued and possibly help in retaining their loyalty.

Three key aspects of user activity data can help companies strategize their customer-oriented policies:
  • Drivers – Elements encourage users to come to your site.
  • Barriers – Elements that encourage users to leave and stay on the site.
  • Hooks – Perhaps, the most important element in the process, which helps turns a potential visitor into a customer.
Apart from the usual user behavior analytics, the 5Ws will also help companies to understand their potential customer better -
  • Who - Understanding who your consumers are?
  • What - What is a consumer searching for and what is driving him or her to do so?
  • When - Understanding the time pattern when consumer queries reach their peak
  • Where - From where are the consumer searches and queries emanating from? It could be smartphones, laptops, or any other medium too.
  • Why - This is a complex 'W' to decipher but adds quality to consumer data gathered by a company.
The formula is simple: create a digital persona of customers + provide seamless digital experience + some surprises = higher probability of positive customer satisfaction. Also, keep a data-driven approach at the center of strategy, learn from the metrics, and keep building on top of that.

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