The Impact of Data Analytics on Customer Strategies

The Impact of Data Anaytics on Customer Strategies

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By Barton Goldenberg

The advent of data analytics and insight are already having a meaningfully impact on the way that organizations manage their customer relationships and customer engagements.  Best-in-class organizations have already concluded that to be successful, data analytics must be tightly integrated into their Social CRM application.  Concerning the impact of Data Analytics on customer strategies, this includes, for example:

  • Integrating data insights into customer profiles contained within Social CRM application, e.g., which products should be offered to which customers, which customers and prospects should sales reps call on, or which next-best-offer should be made via the Contact Center or via the Web, what is the next step in the Customer Journey, etc.
  • Identifying new and creative market segments for use in Social CRM marketing programs.
  • Providing guidance on optimizing marketing campaigns across all relevant channels that get created and launched from within the Social CRM application.
  • Determining the best topics for a Social Media community, so as to drive high customer engagement and in turn social insights that will be integrated in the Social CRM application.
  • Related: Learn How to Harness The “Digital Firehose”

Here’s the good news: more and more Social CRM systems are offering meaningful data analytics tools either within their software or integration with external data analytics tools to help organizations turn data insights into sales, marketing, and customer service excellence.  Key Social CRM vendors have invested heavily in Big Data tools.

Similar to Gamification, data analytics is in its infancy; its impact has yet to be truly felt.  Over the next five to ten years, Big Data analytics and insight tools – along with their integration into Social CRM – will take organizations to the next level in terms of creating and sustaining meaningful two-way dialogs with their customers, and will play a meaningful role in enhancing customer satisfaction, loyalty and advocacy.

In my next blog post, I will discuss the growing importance of channel optimization and its impact on Social CRM.

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    The Definitive Guide to Social CRMBarton Goldenberg, is the founder and president of ISM Inc., customer-centric strategists/implementers serving best-in-class organizations globally. As a CRM leader for 30 years, he was among the first three inductees in the CRM Hall of Fame. Recognized as a leading “customer-focused” author, his latest book, The Definitive Guide to Social CRM, is hailed as the roadmap for Social CRM success. Barton is a popular speaker on “maximizing customer relationships to gain market insights, customers and profits”. He is a long-term columnist for CRM Magazine and frequently quoted in the media.