Customer Journey Analytics vs. Traditional Analytics—Know the Difference
It’s expected that 60% of all large organizations will develop customer journey mapping capabilities by 2018. Why? Because the average consumer isn’t so average anymore. Consider that a typical customer now owns three personal mobile devices, each with anywhere from 10 to 20 downloaded apps. This individual owns an average of five social media accounts, nearly three of which are actively used. Additionally, the average office worker receives up to 121 personal emails per day. Just imagine what these figures look like for consumers on the high end of this engagement spectrum.
To get a snapshot of my own activity, I followed these simple instructions to figure out how many emails I receive. It’s 10 a.m. and I show 59 emails received (up from 47 just two minutes ago). And tweets average around 6,000 per second—I have 1,175 in my queue based on who I am currently following. The question is: How do you bring your email, tweet, post, or blog to my attention amid all the clutter?
When we look at what this means to customer experience it is worth noting that we’ve reached a point where over 40% of customers now use up to seven different channels to interact with brands, from live chat to email to social media to SMS. Businesses increasingly understand this fact, and they’re taking the necessary steps to ensure they can deliver consistent, contextualized experiences across various channels and devices.
Each of the devices and channels offers its own set of diverse scenarios for linking to other devices and channels, making no two customer experiences the same. The not-so-good news is that businesses are still grappling to understand customers’ actions across these various touchpoints. They need to leverage data but, in fact, 43% of companies currently obtain little tangible benefit from their data, while 23% admit they derive no benefit whatsoever. Organizations are struggling to create a data strategy that delivers the insights needed to drive anticipatory engagement and repeat spending.
The bottom line is that a business can support virtually every interaction channel. However, without a comprehensive view of the data generated and shared across those channels organization-wide, it will fail. Supporting an array of channels is simply not enough. Businesses must gain an inherent understanding of how customers are using these channels so that they can adapt, evolve and change as needed. This is where the ability to understand your data—specifically, customer journey analytics—becomes vital.
The solution here may be simple to describe, but implementing it isn’t. Adopting customer journey analytics means businesses must now support a powerful, real-time visualization of the customer journey across all lines of business, not just the contact center. They need a roadmap to continually reinvent key processes and fine-tune organizational behavior. They must harness real-time and historical data across all channels and devices to intuitively understand customer needs and optimize business outcomes. Most challenging of all, they must do this in a way that shows tangible ROI and improves TCO.
To make customer journey analytics work, businesses must take a critical step from ideology to implementation—a move that can often feel like a leap of faith.
But there’s good news: technology has evolved to a point where companies can now easily, effectively and cost-efficiently achieve these core data objectives. The key is investing in an extensible, omnichannel customer engagement solution.
Your customer engagement solution should boast simple capabilities. It should be pretty easy to create and manage dynamic, multi-touch customer journeys. And you need a built-in, flexible analytics and reporting platform to deliver a single, comprehensive view of customer data across all sources, both internal and external. This lets you compete using customer journey analytics, and also easily add third-party data sources to amplify their strategy.
A customer engagement platform redefines the way businesses engage with digital consumers. Here’s how customer journey analytics stand apart from traditional reporting and analytics:
- Obliterates Siloes: A siloed environment is the greatest barrier to data success, and it’s affecting more businesses than we realize. According to Deloitte’s 2017 “Contact Center Benchmarking Report,” nearly 60% of customer channels are currently being managed in silos. Analytics integration is vital for competing on customer experience (CX), an initiative that traditional analytics tools simply can’t support.
Built on open, extensible architecture, a customer engagement platform has unparalleled flexibility for gathering transactional information from numerous different channels (IM, co-browsing, SMS, phone, email, IoT) and devices (phone, mobile/tablets, branch, desktop, kiosks). This enables companies to flexibly collect, process and analyze all real-time and historical data. They gain a rich visualization of their customer journey enterprise-wide. This means consistent, contextualized experiences no matter where and when interactions begin, end, continue—and no matter how many company agents are communicating with the customer.
- Seamlessly combines internal and external data sources: The open nature of a customer engagement platform enables companies to combine internal data with that of virtually any other business intelligence (BI) tool. For example, insights collected internally can be combined with data from visualization tools from leading providers like MicroStrategy, Oracle, SAP and Tableau. This lets managers maximize the return on their existing investments, while driving their potential beyond what was initially imagined.
Furthermore, this unique ability lets managers generate cradle-to-grave customer interaction reports, enabling them to identify innovative new ways to meet consumers’ evolving needs. Chances are you’re not going to get this with traditional reporting and analytics platforms.
- Transforms the agent experience: A holistic customer engagement platform redefines agent and supervisor experiences by allowing companies to easily create, customize and integrate key applications for specific work groups. Supported by an advanced software development kit, companies can build their own contact center apps, or embed specific functions into their existing apps, to customize desktops for any unique customer/agent configuration. The solution represents a revolutionary way to serve digital consumers. And, it offers managers a new avenue for analyzing performance metrics for all ways customers are served.
With customers using more digital channels than ever, it’s clear that now is the time to adopt customer journey analytics via a customer engagement platform.
Interested in learning more or chatting about transforming your analytics environment? Contact us. We’re here to help and would love to hear from you.