The modern customer journey is highly complex and non-linear in nature. To understand the customer experience across channels, teams and tools, you must expand beyond the silos of strictly marketing or product-related touchpoints.
Today’s businesses need to derive insights from across the organization, leveraging marketing, paid and unpaid advertising, customer success, product, support, sales and other groups within the company.
Most businesses find it challenging to democratize data across the organization and obtain a 360-degree view of their customers to drive end-to-end business objectives.
It’s crucial to know how prospective users engage with your product or service in order to identify leads at the right time and on the right channel. This is especially true for SaaS companies that offer a ‘freemium’ model when acquiring new customers. Often, they spend an unreasonable amount of time and resources on lead acquisition by sending repeated communications to prospects on an action such as a free trial sign up form.
Unfortunately, given the vast array of options available out there, such actions are no more telling of the lead’s propensity to purchase. What’s worse is that unwanted emails or calls can do more harm than good by deterring them from your product or service altogether.
For a company focused on the customer experience, actions such as repeated use of certain features, downloading how-to tutorials, and viewing software setup videos are much more indicative of interested prospects. However, there are few tools that track behavior across a product or service while enabling teams to engage with their users in real-time.
With an estimated 66 different SaaS applications that are in use per enterprise – primarily for web and social traffic based analytics activity – companies are unable to properly leverage the data flowing in their organization to generate meaningful and timely insights.
Moreover, the market is crowded with solutions promising results such as higher conversion rates that are generating further confusion about what solution to implement, at what cost, and at what time. Such a conundrum gives rise to data siloes that often fail to render timely insights to business users. Most importantly, companies often fail to realize how difficult it is to bring all the customer-centric data together in order to find a single source of truth.
Given the fragmentation of investments in tools across all sizes of enterprises, a unifying customer journey analytics solution integrates with all the relevant applications to provide a singular view of each customer and better analyze their interaction and needs across all channels. Companies need to anticipate their customers’ behaviors and shift how they think about and engage throughout the decision journey.
Although every organization is now aware that data is their gold mine, few have managed to establish a sound data strategy that will allow them to consistently monetize from it. Most companies have trouble simplifying their data architectures to build a single layer that augments all the relevant customer-related information in one central location. Connecting with leads and channelizing efforts to truly convert engagement to revenue is that piece of the puzzle that unfortunately many are still trying to solve.
Updated over 1 year ago