It is very important for you as a business owner to get to know the types of customer analytics to grow your business, also customer analytics are vital for assessing how well your business does this, also it helps you to understand the customer needs to attract them and achieve the best profit.
Importance of customer analytics
Customer analyze makes you realize how customers will behave when interacting with brands, also it makes you understand more about the customers The better understanding of a customer’s buying habits and lifestyle preferences, the more accurate predictive behaviors become.
Types of customer analytics
Customer satisfaction analysis
Simply Customer satisfaction analysis is knowing if your customer re getting what they want and expect from your business, product or service and whether they are satisfied or not and the best way to know this is by making a survey on them like giving them a data paper to fill or online.
Social media analytics
One of the most important analyze ways is making surveys through social media because you have to know what people say about your brand or company. In social media analytics, text data from social media posts and blogs are gathered and mined for commercially relevant insights using text analytics and sentiment analysis.
Customer acquisition analytics
It is that way that you find out how effective you are at acquiring new customers because if you spend too much money on those customers without a result you will fail, There are a number of metrics that can help to establish customer acquisition, such as the cost per lead and customer conversion rate KPIs
Customer churn analytics
In this case, you analyze the number of customers you lose every year because keeping your existing customers is always much easier and cheaper than trying to find new customers. It also allows you to predict customer churn in the future and take evasive action before you lose those customers.
Customer engagement analytics
It is how your customers engaged with your products services or brand through these various interactions. Ways of measuring customer engagement include surveys and social media analytics and from the website.
This process is analyzing means that you increase engagement and sales on your website analytics is useful for assessing the market and opportunity whereas on-site is useful for measuring commercial results.
Nowadays there are tools of customer analytics which are…
Google Analytics 360
IBM Watson Customer Experience Analytics
SAP Hybris Marketing Cloud
SAS Customer Intelligence 360