Capitalize on Customer Moments: Use Big Data the Right Way

Have you ever gotten a call from a company with whom you already do business, where the representative treats you like a new prospect, like a complete stranger? That is a blatantly unsuccessful customer moment — not due to a failure in CRM software, but in customer engagement.
 
According to a study by IBM, 90% of CEOs rate customer engagement as their number one priority in achieving business outcomes. Yet according to Jim Clifton, in “The Coming Jobs War,” only 20% of customers are reported to be fully engaged. This comes at a time when we have more data about our customers than ever before — yet this engagement gap persists.
 
To close this gap, enterprises are investing heavily in business intelligence and big data solutions. Yet achieving business outcomes from these investments remains elusive; over 50% report failure.

The key here is to keep top of mind that “data” is not merely numbers; it’s in fact an aggregated collection of personal customer moments — my package was delivered late, my child is going to college, or I just lost my job — and personal characteristics of those customers — age, industry, health conditions, or financial status.
 
Big data simply speaks a different language. It speaks a language of regression analysis, degrees of significance, factors, equations, demographics, coordinates, price elasticity, and so forth. Using the rhetoric of big data is essential to discerning patterns from the complex web of customer moments. Yet at the end of the day, a human being is going to take action when they get in front of a customer — and in that moment, they must communicate in a manner that’s conducive to customer engagement.  
 
To help your employees in these moments, consider this example:

If you treat customer moments in the same manner that you address data, you receive just that: columns and rows of data. Business intelligence is great for strategic analysis, and for seeing the big trends. However, business intelligence is not the ultimate purpose, as intelligence without action is futile. The ultimate goal is to captitalize on opportunities with your insights. In this case, it’s all about the action you take to improve that customer moment.    
 
Customer engagement is the accumulation of successful customer moments. To optimize those moments, you must equip your employees to take the best action possible. We believe this is done by improving our employees’ ability to serve up the right insight (analytic maturity) at the right time (delivered in context via mobile), thereby enabling them to take the right action. The combination of all these factors are essential to successfully capitalize on customer moments.

Don’t lose opportunities to capitalize on customer moments. Learn the fundamental rules for engaging your customers in Bluewolf’s Essential Guide to Customer Obsession.

 

 


Bluewolf, an IBM Company, is a global consulting agency and proven Salesforce strategic partner that builds digital solutions designed to create results. Now.