O’Reilly Media launched the term Big data in 2005. Fact is, Big data has been around much longer. It’s basically a collection of extremely large data sets. These data sets may be analysed computationally to reveal patterns, trends and associations. This relates to human behaviour and interactions.
Big data is described by various characteristics. This includes volume, variety, velocity, veracity, exhaustivity, fine-grained and uniquely indexical, relationality, extensionality, scalability, value and variability.
We’re currently living in an era of Big data. Listening to what your customers have to say about you is a crucial factor. Companies or businesses that neglect their customer’s opinions tend to fail miserably in the long run. In short, companies that make use of the data will eventually win the race.
Current Industries are using several methods to personalize and improve customer experience. Big data forms an important factor that helps these industries to do so. It has become a need for the industry to do so in order to have an upper hand with their competitors.
How can Customer Experience affect your business
Gone are the days when customers used to visit shops directly to buy products. In today’s world customer tends to search a lot about the product before buying it.
According to a report by 2014 State of B2B Procurement Study, 94 per cent of B2B buyers reports that they conduct some form of online research before purchasing a business product.
In that case, can you expect the new customers to buy your product if it is having negative feedback among the existing customers?
Role of Big data in analysing Customer experience
Big data can be considered as a collection of large volumes of data. In today’s world, Influence of social media among people is high. There are several websites and channels that write a review for your product the moment it’s released. The number of sites that gives these reviews is way beyond your expectation.
It is challenging to collect all these reviews and analyse them manually. By using web scraping or data scraping these data, which is scattered among different sources, can be gathered together. These data can be used for in-depth customer analysis and can be used for customer experience management.
Customer experience management should be the topmost priority for any company. A company who respects as well as treats its customers pretty well have witnessed enormous growth.
By processing these collected data, companies can figure out the reasons behind the negative feedback and take actions to solve those issues and thereby improving customer experience.
How to Personalize and improve customer experience
1. Understand customer needs and interests
You can do this by collecting customer feedback data using different tools or methodology. These data can help understand the needs of customers.
Customers give their feedback regarding a product in several platforms. This includes social media, websites, etc. It’s the responsibility of the company to analyse the big data and solve concerns of customers. This way customer experience can be improved and can turn customers into your loyal fans.
2. Improve communication with customers
A product sold doesn’t mean everything is complete. Feedback of customers after using your product is vital for your business. Always make sure you are collecting all the data regarding your product and occasionally engage with your customers.
Make use of social media platforms to communicate with your customers. Customers tend to leave feedback about your product in several social media sites or other websites. Gather all those data and by taking the help of trained service executives or by some other means, always give a reply respectfully to the customer who needs your assistance.
Make sure that his concern is addressed so that the customer would find it a nice gesture from your side towards him. It is one of the ways by which a business can turn its customer into a loyal fan of your products.
3. Have targeted marketing strategies
Big data can be considered as a core factor for Customer Targeting strategy. Several social media platforms, such as Facebook, collect a large volume of data about the customers. Customers want innovative products to make their life easier.
The first and most important thing for a business is to identify who will buy your product or who you are targeting. You need to conduct consumer research to understand which category of people you should target. Big data plays a vital role in consumer research.
Identify the group of customers by analysing the large chunks of data. Always try to target customers whose existing problems will be solved by your product. Google Ads, Facebook Ads are some of the methods by which we can target a particular group of people. Not only it will help your product reach in the hands of desired customers but it will also create a personalized experience for the customers.
4. Consider Customer Sentiment
Customer Sentiment plays a vital role in their relationship with a brand. By making use of Big data to understand how the customer feels can be a crucial factor that helps to connect with them emotionally. Connecting emotionally with a customer can help you win their loyalty.
5. Keep track of your Customers
Every business should think beyond marketing. Finding out a customers journey can help in improving the customer experience. This can be done with data analyis.
Analyse the channel they prefer, the websites they visit the most, the places they’ve visited and the products they’ve bought. This can provide a personalized experience to the customers which will help improve their individual experience.
Equipping the representatives with this information before having a word with the customers can help them provide a much better experience to customers.
If your business haven’t started using Big data and is not Keeping track of the customer feedback, it is high time you should start analysing the data as early as possible. With the improvement in technology, it would be interesting to find out what changes will come in the field of Big Data in the years to come.
Watch this space for updates in the Opinion category on Running Wolf’s Rant.