Customer success is vital to a company’s overall success, especially for online businesses. According to a report by Walker, customer experience will rise as the biggest brand differentiator in 2021—even bigger than price and product—so driving customer engagement and enhancing their overall experience with your brand is a must.
Analyzing Customer Behavior and Customer Success
With all the user behavior analytics available today, online businesses need to know how to use the information they collect to generate more revenue and reduce churn.
Effectively analyzing your customers’ data will work wonders for your customer success efforts. You will be making decisions based on real-life information and not mere hypotheses and conjectures. That said, failing to make the most out of the data you have leads to missed opportunities.
To give you a head start in optimizing your customers’ journey, we’ve put together five important customer success trends for businesses to look out for in 2021. Remember to pair these with robust user analytics for the best possible results.
5 Customer Success Trends to Explore in 2021
Keep track of customer engagement and usage.
A key data point for you to evaluate is how often your customers engage with your business. This gives you better insight into the areas of your funnel that are most appealing to your audience. You will also better understand how you can improve your products and services to keep customers satisfied in the long term.
Invest in customer journey mapping
To improve customer success, a business can use journey mapping, which is a model that helps you visualize your customer’s buying process.
Simply put, this allows you to put yourself in your customer’s shoes. By analyzing and understanding the customer’s thought process, you will be able to provide better experiences as a whole. This turns into a win-win situation where your business can attract and retain customers who are satisfied with the products and services they receive.
Educate clients on the business to create more advocates
Providing customers with different resources related to your business helps ensure that they’re happy to continue their relationship with the company. It’ll allow customers to understand your products better and more effectively use them to meet their needs.
When you help your customers get the maximum possible benefit from the things you offer, you end up with happier and more loyal clients who, in turn, are more likely to recommend your business to other businesses or people that they know.
Get ahead of churn by detecting potential risks earlier on
To retain more customers, identifying early signs of churn is crucial. Keeping open lines of communication with your customers and periodically asking for feedback will come a long way in making this happen. Collecting constructive criticism provides you with a clear snapshot of how customers feel about their experience with your business.
By engaging in dialogue from the beginning, companies will better understand which specific areas are making customers unhappy, giving you the capability to address these issues as early as possible.
Leverage customer data to gain better insight into the decision-making process
There are certain factors regarding customer behavior that can have a significant impact on how they make decisions. Businesses need to understand:
● What affects a customer’s decision to purchase their products
● Why customers choose to continue to do business with their company beyond the first transaction
● The most common causes of cart abandonment
Not only is this beneficial for customer retention, but it also provides you with valuable insights on what services you can offer in the future based on this data.
Conclusion
All successful businesses have one thing in common: customer satisfaction. By adopting the right customer success strategies, companies can better demonstrate the value of their products and services to customers. Five trends you can use to improve your success are: keeping track of customer engagement, investing in journey mapping, creating advocates for your business, conducting early risk assessment, and analyzing customer data.