No business in the world can undermine the value of customer analytics. It not only helps businesses to make informed decisions, but it can help them build their entire customer lifecycle for their brand.
Now some might be wondering what customer analytics is. Well, it’s the collection, processing and analysis of customer information to gain insights into customer behaviour. As for why you need customer analytics? Well, this goes without saying, there more you know about your customers, the better your business can prepare itself to attract, convert and develop a long-lasting relationship with them.
Businesses use various tools to gather customer business analytics effectively. In this article, we are going to discuss all the steps involved and why customer analytics is necessary for your bottom line.
How can you collect and store customer analytics data?
The way your business collects and stores customer information makes an immense impact as it paces the way towards how can use the data as effectively as possible.
Data collection
The first step is figuring out ways to collect data for this your marketing teams can use Google Analytics to collect customer information such as the behaviour of visitors to your business website.
There are other tools like HubSpot, Mailchimp, and Optimizely that work just as well as Google Analytics.
Data sorting
The data that you have collected is mostly unstructured, you need a way to sort it and direct it for further analysis. A customer data platform (CDP) can be very helpful in doing this, will help you do this. CDP directs your data to the place where it needs to be.
CDPs connect multiple tools and ensure the data collected is standardised. Properly sorted data is much easier to sort and analyse.
Data storage
Now that you have your customer data all sorted your CDP needs to send the data for storage in a data warehouse where it’s unified. Redshift is one of the most popular data warehouses among users, but there are plenty of others like BigQuery and Postgres.
Once you have selected the data warehouse that you’re going to use to store your data, now’s the time to start that process of customer analytics.
Data analysis
Lastly, you’ll need some way to analyze your data with business intelligence tools like Mode Analytics, Looker, or Tableau. But there one thing that you should note is that these tools are that they require specific knowledge of SQL.
In case you are not proficient in SQL, you can also consider having a look at a tool like Chartio.
Need for customer analytics for your business
Customer analytics will help every department within your company, especially when it comes to building highly personalised, timely marketing campaigns.
Customer journey analytics can also help your sales team understand your customers’ behaviour to help them reduce your sales cycle. Your development team can use customer analytics to build a better product as per customers’ preferences.
Similarly, the marketing teams can use customer analytics to streamline your marketing funnel more so that your audiences convert more effectively.
Summary
Today’s well-known brands have an immense understanding of their customer analytics. If you want to take your business to the next level by creating a more personalised experience for your customers, you need to take the time to build a customer analytics infrastructure.
If you have any questions or need help setting up your customer analytics pipeline, please feel free to book a 30 minutes free session with us, and we will try our best to help you out.
Cheers!!