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LISTEN TO YOUR CUSTOMERS: TURN TO DATA

Aruba, November 9, 2018 - Listen to Your Customers: Turn to Data to Discover Their Truth

Consumers aren't great at telling companies what they want -- but their data can be.

Consider the rise of customer success. Because 74 percent of consumers feel contacting customer service is a frustrating experience, few speak up until they've had a truly bad time. The trouble is, just one negative experience is all it takes to send more than half of consumers packing for a competitor.

That's why, instead of waiting for customers to call in, customer success managers monitor usage data like average session duration and login frequency. Although customers might hesitate to reach out about a page that won't load, constant refreshing can signal that they're struggling. Among U.S. adults, 87 percent want companies to proactively contact them before small issues turn into serious trouble.

Customer success's data-doesn't-lie approach doesn't just benefit users, either. A SaaS provider in the healthcare industry that implemented Gainsight, a popular customer success solution, reportedly cut its customer churn rate by 50 percent and boosted cross-sell leads by 10 percent. By capturing and consolidating user data streams, Gainsight's 360 Customer View tool gives companies the full picture of what their customers actually want.

But customer success isn't the only area where leaders need to pay attention. By sleuthing out signals in audience data, entrepreneurs can identify unmet needs, root out unwanted functionalities, and discover new ways to monetize existing products.

With almost any product, highly engaged users make up a small percentage of total users. Among those talking about the product, however, engaged users tend to dominate the conversation. As a result, companies often assume that what engaged users want is what the user base as a whole wants.

Read more at:https://www.entrepreneur.com/article/322362?utm_source=newsletter&utm_medium=email

 

By orbitalnets.com