Businesses can maximize Customer Value through customer-focused analytics

To take marketing calls with good conviction, the CMO needs actionable insights on customers. The insights must ideally contain customer intel from a consumer standpoint to get financial returns for your brand and long-term engagement from your customers. Customer experience is the key to unlocking customer value for your business, and the customer data helps facilitate the same. It’s all these factors coupled with a formidable marketing automation and customer analytics platform, that maximizes customer value.

The marketing strategy has to establish communication with customers at all touchpoints, and combine it with sophisticated customer analytics that prompts marketing action. A cloud service like Xerago’s Customer Value Maximization platform, triggers favourable customer and marketing insights that are data-centric and fact-based. The tools offered by the platform emphasize on a customer-focused business approach to improve customer experience, value, satisfaction, relationship and loyalty of brands falling under multiple lines of business.

Integration of Services

Marketing and customer segmentation tools like CRM and automation platforms, have a positive effect on customers and revenues only when there is proper research at the back-end. The research constitutes a lot of labour force and human intelligence to feed the right amount and proportion of customer details into the automation platforms. What if a cloud service could do all the research and provide partner solutions all by itself? This is precisely what Xerago's Customer Value Maximization platform does. Your business objectives can be coupled with the CVM platform to influence favorable marketing actions from your brand. Customer analytics tools are used to pull out actionable customer insights from your existing customers. This betters the quality of the marketing automation process, rather than bombarding a huge set of customers with product and service offers that are irrelevant to them.

Advantages

• Decreases human labour and the additional time spent in back-end research.
• Human error is decreased in formulating actionable customer insights.
• Does not require marketers to be highly-proficient data scientists to collect customer data.

Forging strong Customer Relationships

Apart from the measurable parameters like price, quality, features and product delivery, there are deeper insights which cannot be quantified easily. Customers have the challenge of choosing the right brand. This is where parameters like customer service and satisfaction come into play. The experience they get after there initial purchase(s) influences their future engagements with the brand. Rather than concentrating just on immediate revenue, brands must strive hard to foster trust from customers and derive customer loyalty. As indicated by the image below, customer value is not just obtained through the excellence of the products and services of a brand. 

In an American Express Global Customer Service Barometer study, customers are likely to spend twice as much for good customer service. Such is the prominence of data-driven customer insights in both developed and developing business economies. Xerago makes this process fluid by providing continuous attention and service to customers even after making a sale. This way, the customers feel valued and enable the brand to derive customer value from them. A dedicated engagement channel creates opportunities to upsell and cross-sell at prospective turns and the CVM platform facilitates the process so seamlessly.

Advantages

• Existing customers become brand advocates with trust, over time.
• Cross-selling and upselling opportunities are created with better understanding of customer behavior with the Customer Value Maximization platform.

Customer journey and profiling

For all that they are worth, most marketing automation and customer analytics platforms do not provide insights at the customer-level, i.e., a personalized approach to every individual existing customer of the brand. Customer-level persona profiling helps analyze every customer at the grassroots level, to understand their expectations; what they want from the brand; their past consumer behavior; their opinion about your brand, and so on.

With the intelligence of the Xerago CVM platform, you can retrieve customer data in your brand's preferred medium of interpretation, while engaging customers by interacting with them over customer-centric channels. The insights trigger a positive response from the customers since they are well-anticipated and offered to them at the right time. For every favourable customer service measure, the perceived value in the customers' minds is increased. Having their issues and problems heard is how customers constitute customer value and be open to providing customer loyalty.

A survey by Xerago has helped recognize the fact that 60% of the customers believe that brands do not have a proper team to help with feedbacks and their organic expectations. Xerago's CVM platform helps monitor the feedbacks in real-time and update the marketing automation process instantaneously.

Delivering omnipresent customer value to the brand

On taking a customer-focused approach to marketing through the Xerago CVM services, the clues and cues left behind by the customers and their shopping behavior and effectively picked up. The robust cloud platform can be optimized to suit various industries among the likes of fintech, telco, banking, finance, hospitality, automobile and more. Get the voice of your customers amplified to be heard loud and clear, which is the very foundation of deriving customer value. Schedule a Demo with Xerago's Customer Value Maximization platform now!