Strategy 360 With data analysis

Having a 360º strategy implies having a holistic vision, tanto del propio negocio como de la experiencia del cliente a través de la analyticsAnalytics refers to the process of collecting, Measure and analyze data to gain valuable insights that facilitate decision-making. In various fields, like business, Health and sport, Analytics Can Identify Patterns and Trends, Optimize processes and improve results. The use of advanced tools and statistical techniques is essential to transform data into applicable and strategic knowledge.... of data. In the modern world, where people use a variety of online platforms and stay connected for many hours a day, having this 360º vision is a strategic imperative to obtain a competitive advantage.

How does a project align with this strategy?

The view of 360 ° provides a comprehensive perspective of the client's relationship with the organization and, Thus, leverage data from different touchpoints and show a complete picture of who they are. In fact, it is the basis for making the relationship with clients more experiential than transactional, as required by the times.

At the same time, a vision of 360 ° allows to show the relationship of customers with the brand both in the latest (consumer history and cross-channel interactions throughout the customer journey), as in the Gift (current behaviors, how you link and interact with the organization, through which channels). And in doing so, it is easier to anticipate what is likely to happen in the future.

With this information and the right analytical capabilities, it is possible to have a clearer perception of the customer, of your needs, your level of satisfaction and your value, and build loyalty by personalizing and optimizing their experiences. Customers can also be segmented to define differentiated actions and reduce the costs of marketing campaigns using all resources, not only economic but also people, to work only those prospects who are qualified targets for the company.

What's more, the view of 360 Customer ratings helps identify those at risk of leaving and enables sales teams to proactively address their dissatisfaction.

How to achieve it with data analytics?

Today, organizations are supported by modern tools, some powered by AI (artificial intelligence), that allow you to convert large amounts of data into useful information for making business decisions.

What is sought when using these platforms is to stop having Big data, but from smart data -Namely, from properly contextualized data, categorized and analyzed–, so that strategies can be customized, provide content of authentic value and interest and offer unforgettable experiences to customers. Relevant content at the right time.

However, How do you organize a customer service strategy of these characteristics?? The first is to have the organizational commitment to place the customer at the center of the overall business strategy and focus on getting the desired customer intelligence or customer intelligence.. To achieve the latter, It is necessary to have a data management strategy and to design protocols that encourage all departments to enter them in a consistent format. For what reason? Because customer intelligence requires high-quality data: must be “clean”, organized and categorized. On the contrary, the information will not be accurate or relevant.

You may be interested in reading: Data management: How to turn data into intelligence?

Appropriate tools

Big data technologies allow to obtain this comprehensive view of the customer faster and easier. When creating a 360º model, we must collect a wide range of information and combine it into a single system: a tool to manage data.

Because the sea of ​​data companies have can be overwhelming, a good one recommendation It is first of all to identify the business need and prioritize the use cases that offer the greatest value, since this in turn will allow to identify the types of data to acquire and then select the analytics to apply. Namely, to properly focus data collection, sales leaders must know what they want to measure and clearly establish a vision of what they want to achieve.

Secondly, a foundation must be built for the client's profile: it's best to start with the minimal pieces of data that identify you. In this case, it will be necessary to focus on data hygiene and install processes to label and streamline it.

In the initial stages it will be convenient to take advantage of your own data obtained from various sources (websites, social media, advertising, CRM, etc.). Then there will be time to incorporate third-party data (external databases, public data sources, etc.), that will enrich the integral vision.

Analysis stage

Once the information is obtained, the data analysis stage should be promoted, which is what will allow obtaining commercial value from them. Better understanding customers and how they interact with the organization is one of the keys to providing what you need, when you are looking for it. As it says McKinsey: “If data is the oil of the digital age, analytics is the engine that converts them into energy”.

As the organization matures its data analysis, you can move forward with predictive analytics processes that allow you to detect behavior patterns and anticipate possible future behaviors. With this information, you can adjust your strategies, both to sell more and to optimize customer satisfaction levels.

Definitely, by having a 360º vision of your business and your clients, companies lay the foundation for their data analytics strategy, which may become more complex in the future. Thus, access the information necessary to offer increasingly satisfactory experiences to their customers, enhance 360º engagement and increase sales, which will naturally have a very positive impact on your income statement.