Driving Customer Experiences Through Retail Analytics
Optimize pricing, promotion and supply chain movements ... This is the wish list of any business, especially e-commerce retailers. But how can you leverage data to get there? Data analytics is a vital part of any market analysis, and new automated solutions can lift the customer service experience and internal management of your brand.
Here’s how you unlock the potential of data with the help of survey analytics platforms in the world of retail.
Industry Trends and Developments
The traditional survey format on paper has been a vital component to map the customer journey, yet characterized by a low engagement rate. Through new artificial intelligence (AI)-driven technology, the survey format has extended to a more conversational approach, and the trend is here to stay. The survey chat platform gathers and stores all valuable insights and real-time data customary to your business and respondents.
To get the most out of conducting your own survey research, you’ll first need to ask yourself how analytics are changing the customer game for retail companies. The beauty of retail analytics is that it can reveal patterns, trends and performance, focusing on human behavior and interactions on sales platforms.
In this piece, I’ve emphasized the value of online survey tools as improving customer responses, as a management solution, and a communicative and dialogue-based platform.
A Retail Integration
To get the most out of retail analytics in order to improve customer response time, the first step is to develop a customer data management strategy based on survey data from your respondents. Doing so is worth the investment: The cost of poor-quality data is estimated to be $1 trillion per year.
Whether it's to strengthen personalization, unlock buyer intent, or trigger personal engagements, survey data will provide you with the right objectives for what you want to do for your business long term. This is the core of what the ultimate survey management tool can do for you. The right tool can provide you with detailed insights into key industry trends in addition to breaking down customer habits.
The survey platforms on the market today automate data with retail integration and also connect the customer with other response services such as mobile apps and social media customer service chats.
Online Retail Measurements
The right survey tool provides data on a personalized shopping experience and customer recommendations based on purchase history. Free from biased and highly configurable, online surveys can also gather the entire sales funnel by having all platforms under one umbrella. This is called an omnichannel experience, and the success rate of any survey completion surely depends on the user experience.
The right survey platform will provide retailers with more insights into the customer experience and how they can organize internal management thereafter. By upgrading from a simple survey tool to a collaborative management tool, they will also reduce measurement errors in sales reports.
A Conversational Platform
The best survey platforms are communicative and dialogue-based to identify and customize customer needs. By conversing with the customer, the survey turns into a conversational platform, not only a customer data collection tool. While the customer stays on the survey platform, they can also remain connected on the support channels related to purchases.
The survey tool is a case management tool system and sales assistant at once, providing you with precisely the data you need. You get to automate the entire retail process, and the customer can get a hold of a sales assistant wherever they are and hear from every supply chain in the same process.
With an ample range of question types and features to choose from, you can create and share a highly personalized and engaging survey for your respondents. The right platform can help you collect up to 40 percent more customer responses.
Gather Integrated Response Data
We’ve seen that new survey management assessment tools are dialogue-based systems that not only gather customer feedback, but also identify, customize and communicate all customer needs. These platforms take mapping the interactive customer experience to a higher level. They can gather all relevant platforms under one, and are not dependent on the location of the client or the customer. This is beneficial vs. having multiple surveys from beginning to end in a research phase.
Customer research tools of 2021 are management tools that manage to capture all customer feedback without bias. They gather customer responses in a better way and capture more accurate responses. For the respondent, it doesn’t feel like answering the traditional paper questionnaire.
The metrics attached to the survey makes for a more engaging chat conversation, ultimately generating a greater completion rate and better responses. This makes the process more insightful for both you as a retailer and for the customer taking the survey. Prediction of trends and identifying patterns of custom reports based on useful and relevant information only is what the survey can do for you. Tangible examples being a report on a store at a particular location or a customer report based on a certain age group or profession.
By leveraging holistic management tools beyond the chatbot, retailers can better understand and advance customer loyalty. Through powerful automation of customer communication and service, creating modern-day customer experiences are easily at your reach — and it will be those that prioritize these solutions that will have the greatest impact. It’s no longer about mobile compatibility, but mobile first.
Shihab Muhammed is the founder and CEO of SurveySparrow, an end-to-end conversational experience management platform.
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