Customers

NPS, CLV, CLI, CSAT, and CES and it goes on and on. The majority of us have tried everything, and frequently with such zeal that we tend to group CX professionals into one of two camps. We have to admit that we have at least briefly been a part of each of these camps. Unfortunately, while each of these indicators has a place, if we are genuinely seeking to utilise analytics to run the business and effect change, we are missing the mark.

COVID-19 has influenced a variety of lifestyle modifications, including changes in consumer purchasing behaviour. Customers now engage with brands on their terms and demand a personalised and meaningful experience, as opposed to feeling “forced” to shop online. The Indian e-commerce market, which had 150 million online shoppers as of FY21 and was the third-largest market overall, is predicted to reach US$ 200 billion by 2026.

The exhaustive process of identifying a client’s requirements wants, expectations, preferences, and aversions is known as the voice of the customer (VOC). Additionally, this goes beyond consumer feedback, social media, and relationships. One of the reasons VoC is crucial is because the quality of the customer experience is a key differentiator in standing out from rivals.

Customer analytics can be made simpler by leveraging technologies like data science, artificial intelligence, and machine learning to comprehend client trends. Although it may seem simple, understanding clients is not simple. And those who are aware of their clients’ needs and behaviour patterns have an unfair advantage over those who are not.

Decision-makers and marketers have traditionally used surveys to gauge customer success. Since they are helpful, you shouldn’t toss these customer experience analytics tools out the window. Backwards-looking measurements do have drawbacks, though. Additionally, due to the rapid deployment of cutting-edge technology by giant corporations, those that don’t keep up run the risk of falling behind.