Customer Journey Analytics – Myth or Miracle?

Steve wants to buy a speaker for his little man cave in the attic. He looked at some speakers online at BestBuy’s site, and he liked the specs of W-King X 10 – long battery life and a loud, full sound.

A little bigger than other speakers, but bigger is better right? He checked it out on Instagram and even saw some TikTok videos.

At the water cooler at work, his uber-cool colleague and buddy Desmond talked about how the X 10 kept the music flowing at his backyard pool party, late into the night, last weekend!

Steve does a quick price check across stores and on the website and remembers seeing bluetooth speakers on special deals at Sam’s Club when he went grocery shopping with his wife, and headed there to pick it up!

So how does W-King track this?

Through the miracle that is Customer Journey Analytics.

Simply put, Customer Journey Analytics can help brands understand every interaction a customer has with a business.

Customer Journey Analytics takes things to a whole different level where it doesn’t stop with just charting a journey on a map, but gathers all the data from the many touch points a customer has with a brand, makes sense of it and analyzes what effect each interaction with a brand has on the decisions a customer makes.

It gives a brand an insight into customer views and behaviors across channels through a single customer-view.

With more data, one can even analyze and understand how each interaction drove a customer toward or away from the final goal – at what point do customers seem to drop – and marketers can fix it – even in real time.

Through a set of rule-based modeling and algorithmic attribution, brands can do a robust analysis of customer behaviors and help them understand outcomes.

Data is available to make informed decisions that impact customer experiences and journeys, as customer journey analytics include the analyses of various things like the needs of the customer, the key metrics at various steps of the journey, customer satisfaction levels, the effort put in by the customer and so much more.

Brands and the customer journey

Many brands have a broad idea of the journey their customers take, but they haven’t taken it further. They don’t really have an idea or the capability to analyze what takes things up a notch and what makes it simply go south.

All the various stages of the customer journey must be mapped. (The journey would differ from one industry to the next, one goal to the next, one process to the next, etc.)

And then, the analysis of this journey will give brands a lot of powerful information that they can use to propel their business forward.

Customer Journey Analytics will require the brand to analyze all the data from the various stages of the customer journey – from the view point of successes and possible pain points that hinder progress on the journey towards achieving the goal.

Once you do this, you will know where the bumps and obstacles are and you can do something to fix them.

There are several other benefits of Customer Journey Analytics –

• Brands can understand their customer behaviors better
• They can offer their customers a superior customer experience
• They get a better ROI
• Brands get actionable insights that they can use
• Brands can formulate an informed strategic plan to bring about improvements
• Once brands are aware of their customer’s reactions and feelings, they can turn more customer-centric.
• Knowing their customers better, will help brands move them along the customer journey and what to do to achieve it.
• With a solid customer journey analytics platform, brands can track and fix issues in real time! That way no customer in lost or falls through the cracks.
• Brands get every kind of data that is needed for them to know what the customer thinks or feels – whether it is through direct feedback, or an indirect message that comes (loud and clear) because of a drop in sales, or social mentions, etc.

To effectively use Customer Journey Analytics to your advantage, brands must –

• First map your customer journeys
• Consolidate all the customer data that you already have
• Analyze the data and customer behavior
• Get insights from all the data that you have
• Take data-led actions based on the insights you have

By doing this, brands can create an ethos that is customer-centric and experiences for customers that deliver results! And by smoothening bumps on the customer journey, brands can miraculously turn things around for their businesses!