Customer lifecycle analytics for customer centric products or services

Problem statement: If the experience is cumbersome, opaque, repetitive, there can be huge impact on businesses, 49% new talent turned down an offer due to a bad recruiting experience - PricewaterhouseCoopers (PwC)

As technology transforms products and services, Customer now expect services to-be anytime real-time, ongoing value, personalized, immediate fulfillment and memorable. Transformation at core involves behavior changes of customer, which largely influenced by experience, perceptions, attitude and expectations derived from usage of products / service. Where the expectations are set by marketing message and sales engagement. Experiences, perception and attitude is a matter of engagement with products and services.

its our endeavor is to create Customer delight, and develop sticky products and great Brands. As companies go digital and adapted by customer's, the cost to serve customer go down, scale on demand and reach across globe, this digital capabilities also generates huge amounts of data, With ubiquitous data, it can be leveraged for insight and automation. Let's explore how analytics, ML & AI (including Gen AI) can be leveraged across the Customer Lifecycle.

Understanding customer behaviors: Here are the 5 fundamental customer behaviors 美国哥伦比亚大学商学院 . Companies want to create Best in class Brand, beginning with digital strategies to fulfill customer needs usually starting with Digital access and further moving up to others:

1. Digital Provides access for quick, easy, always one and be everywhere, and the company benefits by reducing the cost of serving.
2. Engage customer in their journey to success by being part of the valued content
3. Customize to adapt to customer needs and context, improving value
4. Be connected to Customer conversation and their network
5. Collaborate with customer's and also invite them to build your enterprise.?

We start with Customer journey mapping / Service Blue printing to visualize engagement and cross- team collaboration. . At core we want to develop frictionless experiences by reducing the cognitive burden for decision making at each touch point(Assist, nudge & enhance). We leverage analytics and personalizing scale. Companies deliver these capabilities with CDP+ Omni channel customer experience, Starting with Crawl, walk, run and Fly, where higher value can be derived by behavior and Journey based analytics. Tools Salesforce Qualtrics

Step 1: Customer acquisition phase, starts with segmentation, Targeting and position STP, to improve effectiveness of our outreach. further use lead scoring, campaign analysis to identify high conversion channels & improve effectiveness. ?

Step 2: Mange customer's phase includes, usage of product post onboarding which is early indication of value derived and engagement, thus habit formation. These metrics are closely monitored by Customer success teams - As 90% of the churn happens in this early phase of product adoption. Identify Ideal Customer profiles ICP with customer profitability identifying the Lifetime value and Customer acquisition costs, these are enriched with segmentation and channel analysis.?

Another way to understand the customer experience could be Call center Analytics: Waiting time (call deflection rate), average handling time, first call resolution, call escalation and call abandon rate. As we are releasing new features frequently and every version has a different perception / impact, so we carry out a cohorts analysis. ?

Step 3: Expanding relationship phase: Behavioral targeting creates a new sustainable channel for product-led growth and reduce acquisition costs, largely on 3 factors Customer fit, product usage and buying intent. Cross Sell / Upsell models use Logistic regression using behavior data, demographic data and cross product holding improving the share of wallet of customers, increasing lock in and serve end to end.

Propensity modelling, helps with driver analysis, determine outcome relations with independent variables i.e. propensity modelling for Buy/Convert, Subscription and Churn are most common.

Step 4: Retain customer involves churn analytics, engagement with omni channel experience & personalization, which we touched upon earlier and nudge for resurrection.?

Step 5: Customer competencies: We develop feedback, loyalty and research initiatives. ?Acquiring a new customer is 7 times more costlier than retaining a existing customer, loyalty metrics are early warning systems monitoring usage(CRUD operations, Login's etc) and Counts (No of users, reports, records or workflow rules etc). ?

By leveraging analytics, we can enhance insights for decision-making and uncover actionable opportunities for growth and improvement.

Design Patterns best practices: https://catalogue.projectsbyif.com/

Qualtrics experience mgt platform: https://www.qualtrics.com/blog/understanding-human-behavior/

We can leverage interactive and explainable AI (XAI) to solve for customer challenges and barrier to adoption, these technologies can provide draft's for Storyboarding and Use Case Identification, Building a Supporting Business Case, 5V Data Scoring for Impact and Feasibility, Future Synergies and Roadmap.

Advantages of Artificial Intelligence

a) It can take on stressful and complex work that humans may struggle /cannot do;

b) It can complete tasks faster than a human can most likely perform

Disadvantages of Artificial Intelligence

a) It can malfunction and do the opposite of what they are programmed to do.

Have a idea you want to realize? I am happy to help reduce risk in Customer centric products, Strategy Design & Customer experiences. I am adept in Service Blueprinting, also Certified CISSP, Customer Experience professional CCXP and XMP, and also as Software Product Mgr.