Customer Intelligence Platform is the need of the hour for marketers to achieve effective customer experience.
Will you agree with this statement?
Or excited to know about what a Customer Intelligence Platform is?
Stay tuned with this article!
To illustrate, Customer satisfaction is a vital component that makes the brands create customer focused products or services.
It help to build strong relationships with customers.
Brands master in customer experience(CX) get three times higher ROI (stock performance) than CX Laggards. (Source: Qualtrics)
Moreover, CX became an urgency and competitive differentiation for brands to reach their end goals, that is customer expectations.
To clarify, customer intelligence platform is the advanced solution to fulfill the need of brands for excellent CX.
With this in mind, we are covering here all the questions that might get into your minds.
- What is Customer Intelligence?
- Evolution of Customer Intelligence Platform
- Why is customer intelligence important?
- The Benefits of Customer Intelligence Platform for Brands
- Customer Intelligence Examples
What is Customer Intelligence?
In short, a customer’s intelligence is all about collecting, examining and getting a detailed insight of customers to target them appropriately across various marketing channels.
Further, customer intelligence platform is the advanced stage of customer data management to serve and connect business users in-
- And other departments of the organisation.
96% of customers say customer service is vital in their choice of loyalty to a brand. (Source: Microsoft)
In today’s digital world, where every brand is producing a massive amount of data. And the brands who are practicing customer intelligence platforms are in gain.
Thus, customer intelligence platforms have given way for them by utilizing AI and machine learning.
Using that, it gets customer insight, resolve and examine complete structured and unstructured data across various touch points of the customer life cycle which include-
- Segmenting data based on their-
- Mode of transactions,
- Demographic details,
- Marital status,
- Income level,
- Credit score
- And many more granular precision details.
- Enrich data by filling the missing attributes using second or third-party data by taking reference of their common identifiers.
- Generating a unique view of customers in real-time. So that brands can reach the audience at the right time with appropriate messages that can drive sales and improve business agility.
- Altogether, using a customer intelligence platform, you can track the details of the customer across the complete customer life cycle. And reach them appropriately with right available offers and compelling messages to convert sales.
Let’s Know the Evolution of Customer Intelligence Platform.
Firstly, Consumer data platforms have come into the market with a promise that they’ll power marketers. By providing a single view of the customer across their organisation and activate them throughout the digital ecosystem.
CDPs are the advanced step in the management of data from platforms such as CRM storage and get a unified view of CXs. But, the CDP failed to provide a unified profile to all systems across the organisations.
Another shortfall of the CDP lies in their narrowly targeting the audience. And doesn’t focus on complete end-to-end CX across sales, commerce, marketing, etc.
A report from Forester states that CDP lacks vital capabilities to solve cross-channel orchestration, data hygiene, and identity resolution.
In order to overcome the shortfalls of the CDP customer intelligence platform came into existence.
To demonstrate, customer intelligence platforms include an anonymous form of first, second and third-party data to get a complete understanding of the customer.
CIP by utilizing AI and machine learning techniques to generate more powerful customer insights.
It also holds the ability to integrate with any other systems to activate-
- And other intelligence systems.
When a marketing team creates a campaign by including offers for a particular product and for that product if a customer has raised a ticket to resolve the issue.
So at that time, marketers teams won’t include those customers in the campaign until their issue with the product is resolved.
Certainly, it disturbs customers if you’re targeting those customers without resolving their issues. In this way, it helps the brands to engage better, improve customer loyalty and lifetime value.
Similarly, in the case of a sales team, if someone is looking for a particular product with particular specifications. When the sales team reaches them, they can approach with compelling messages and offers available at that time.
Let’s Know the Urgency of Implementing a Customer Intelligence Platform to Your Brands.
Get the Single View of the Customer.
On the whole, it connects all the customers across various channels, devices, platforms and all other systems in the digital ecosystem.
And generate a single view of the customer by collecting data from various touch points of the customer journey across various marketing channels. It collects data like-
- Who is looking for what,
- How much time they spent on it,
- Which web pages they visited the most and how often
- And similar other granular level precision details in real-time.
Audience Data Enrichment for Personalisation
In customer intelligence platform, they have a feature of enrichment. Where they add all the missing attributes of your customer data using data from their partners or a huge third-party data source.
Besides, customer intelligence platform can augment even granular level details to complete the profile of your customer.
To explain further, customer intelligence platform augments second and third party probabilistic data with first-party deterministic data to get the complete insights of your customers for hyper-personalisation.
Firstly, getting a unified view of the customer is just the beginning to start with your data-driven marketing. In order to target the right audience, you need to be specific to the audience. That is, segmentation of the audience based on certain factors will only help you to reach your audience at the time of their need.
When you have a right segmentation of the audience, you can activate that audience across the entire digital ecosystem.
Customer Intelligence Platform makes use of AI and machine learning techniques for the whole of this functioning. It helps you in choosing the right audience for the effective running of your digital campaigns.
Actionable Customer Analytics
Running a campaign and then analyzing the results is the obvious thing that you need to perform. Because without analyzing the effectiveness of your targeted segment audience, you can’t reach your end goals.
consequently, analyzing and improving with augmenting/deleting the other set of segmented audience will only help you to enhance the performance of your campaigns.
Analyzing your segmented data also helps you to know why something is performed in that way.
Also, it allows you to diagnose the root cause of your campaign ineffectiveness and look out for the possible solution for it. One of such customer intelligence platforms that hold this capability is Audienceplay.
Today’s customers need a personalised experience from brands. As the customer service drives more customers instead of the product or service you provide to them. You must not fail in delivering a persistent experience to your audience.
For example- When customers have their birthday or any other event. if you can reach them with wishes along with a special offer to them, they feel privileged. and here there are chances of improving customer loyalty and image of your brand.
Moreover, you can reach your audience on their most active channel whatever it may be, such as-
- Social media,
- Or any other source.
It helps the brands to be overall improve their CX by enhancing the individual experience with the brand.
Audienceplay can help you on this, with vast data of their own along with their partner brands and a list of third-parties data.
It can enrich your audience data from its massive data sources. And help you segment, analyse and activate the same across various marketing channels.
To conclude, it helps you in providing a great CX that your customers deserve and increases your customer lifetime value.
The Benefits of Customer Intelligence Platform for Brands
Though directly or indirectly the benefits of customer intelligence platform are endless for brands, here we have listed out in terse:
- You can control your CX with data-driven and high personalisation.
- Improve your customer satisfaction, loyalty, spend and retention.
- Improves your important long term or short term key performance indicators.
- Can deliver special attention to every customer.
- Promote strong brand affinity
- Improve your customer engagement and relationship with you.
- Optimize the performance of your digital marketing campaigns.
- You can target more precisely for every specific marketing goal.
- Can analyse the performance of your campaign as a whole.or based on-
- specific marketing channels,
- life cycle stage,
- customer persona,
- and many other aspects.
Let’s Know Some Examples of Customer Intelligence for Better Understanding
Customized Targeting Based on their Customer Life cycle
You can deliver separate messages at every stage of the customer life cycle.
If a customer is new to your website, then first you can give them a brief introduction of your product/service.
Similarly, if a customer has already visited you and knows about you. You can provide information about how you’re different from others.
In this way, at various stages of the customer life cycle, you can reach your audience with the right and compelling message.
You can further divide your first-time visitors based on-
- Which item they are looking for,
- How often they visited you,
- Their preferences,
- And many more.
Tailored Messages to Customers
For instance, you can group the audience with similar-
- Buying patterns,
- And send specific messages to the audience that can activate them to take any actions.
Another way is you can group audiences based on events like –
- Or any other by considering their needs at the current point of time, you can suggest them the right offers.
For example- if you’re running a restaurant, you can suggest the customer with a prompt message. For example- ‘some percentage off on birthday parties, especially for you’.
Target Based on Geo-Location
It’s the most efficient way because targeting based on location will help the brands. It forecast the weather conditions and needs of the customer at the current point of time and offer them appropriately.
To Sum Up Customer Intelligence Platform
To explain, customer intelligence platform is the advanced step for managing your audience data. It became the need of the hour for brands who want to gain a competitive advantage.
Altogether, it helps the brands to collect, enrich, segment, analyse, and activate the data across various marketing channels.
Besides that Customer intelligence platform makes use of AI and machine learning for automating the entire process. And for getting a real-time response across the digital ecosystem.
To suggest you, Audienceplay in one of such free DIY platform. It can help you to gain maximum benefits from your audience data in achieving your excellent CX.
It holds all features that you need along with some additional features like generating revenue from audience data.
What do you need more for your brand? Try Audienceplay now for free!