We’ve all heard it before: the customer comes first. Their needs and their satisfaction must be central to every element of your business from marketing to product development. Customer focussed products and services not only attract more business, but they help to sustain customer loyalty.
The great news is that your customers constantly generate data about themselves, their purchase preferences, and their opinions on your brand, your products and services. With so much data out there, businesses use customer insights platforms to gather and analyse meaningful data and turn it into useful information for consumer intelligence.
What are Customer Insights Platforms?
Customer insights platforms collect, organise and analyse consumer data and generate useful visualisations to help you better understand your customers and inform your decision-making.
Customer insights can come from many different sources. For example, Google Analytics can give you data on the location of your website visitors, or give you behavioural data showing which pages customers visit or where most of your web traffic comes from. Social media and review site data can give you insights into customer sentiment, opinions, behaviours and preferences. Your CRM data is another useful source for deriving customer insights.
Depending on the data used, customer insights platforms can also provide insights into your competitors’ customers, enabling you to contextualise and benchmark your own performance.
A word of warning. Not all data is equally useful. You want to make sure that the customer insights platform you use doesn’t only look at vanity metrics, such as social media engagement. You want to choose a platform that can go deeper and tell you more about the motivations of the customers and the reasoning behind their engagement.
Here are some of the reasons why customer insights platforms are useful for business.
1. Boost customer loyalty
By paying close attention to your customers’ motivations, preferences and pain points, you can better serve your existing customer base and work quickly to resolve issues before they irreversibly affect customer loyalty.
Build stronger relationships by understanding your customers’ needs and values. Personalise your interactions to make them more relevant to your customers and show that you care.
By comparing competitor performance you can also anticipate and respond quickly to changes in your industry to prevent customer churn.
2. Supercharge your marketing efforts
With advanced customer intelligence, you can understand different segments of your audience and refine your marketing messaging to appeal directly to each of them. Minimise costs and maximise the efficiency of your campaigns.
3. Gain the competitive edge
Get a clear understanding of your unique value within the market, and identify the customer pain points of your main competitors to target their churning customers.
Fully Leverage Customer Data with Symanto AI
Analyse rich, consumer-generated data
Who is better placed to tell you how your customers feel about your brand, your products and services than the customers themselves?
The richest and most valuable data generated by your customers comes in the form of reviews and customer feedback in social media comments. Symanto technology is primed to mine and analyse written text from review sites, social media posts and comments, chatbot transcripts, customer emails and much more.
Inaccurate data will at best skew your insights and at worst render them completely useless. Using the most advanced natural language processing (NLP) technology, our text analysis AI can accurately analyse even short excerpts of text such as a Tweet, and can also understand complex phraseology.
Unique psychographic insights
Understand your customers like never before. Our psychographic technology can distinguish between those talking positively about your products online and loyal customers with an emotional connection to your brand. This is an important distinction when it comes to, for example, measuring campaign impact: While more basic customer insights platforms will tell you that your latest campaign had a high level of positive engagement, our AI will tell you how your campaign resonated with your most loyal customers.
Like-for-like competitor analysis
Symanto makes it easy to mine, consolidate and analyse publicly available data from social media and review sites. Within minutes, you can run a comprehensive competitor analysis using like-for-like data to benchmark your performance and identify your company’s unique value.
Get Started With Symanto
Discover more about our advanced and agile AI. Our technology has vast applications across your business from marketing to HR. You can even integrate Symanto AI into your existing apps to amplify their capabilities.