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Why Brands Need to Drill into Data to Cure Customer Loyalty Decay

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With the changing dynamics of business all around the globe, customer experience now has become a massive game-changer. Apparently, companies need to keep track of the shift in the customer’s choices and conveniences. This is the only way by which they can run uninterrupted amongst other companies in the hamster’s wheel of emerging as the best amongst all.

Therefore, most brands like Entropay initiate maintaining loyalty by drilling deep into customer data. They strategize and entertain many customer programmes that facilitate their understanding of working in light of the consumer’s preferences. These strategies are completely based on certain guidelines that later favour strong relationships between the brands and the people.

Analyze Your Customer

Many companies like Apple, Disney, and Amazon thrive on screening customer experience.  According to survey companies, that prioritize customer experience, perform 80% better than their contemporaries.  Also, such companies make 4-8% higher revenues than the rest of the companies.  To know your customers, you must know what they want before they express it.

By knowing their vision, you will be bound to work accordingly. Maintaining customer data helps the brand to be perseverant towards delivering what their customers expect from them. In this new era of paradigm shift, they are not blown away by discounts and offers, but by variety. Concentrating on such aspects is more important. In fact, 90% of global executives believe that by utilizing customer data analytics, they have been able to deliver the best for their customers.

For instance, 1 out of 3 customers related to a company needs just one bad experience to skip to another. Therefore, nowadays, it has become really important for companies to maintain data and prioritize the customer experience.

Come Out with Innovative Ideas

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Since now that the demands of the consumers are augmenting, similarly, brands also need to augment their mode of service. For example, Uber was initially a cab service company, but later it came out with its franchise, Uber Eats.

Technology has literally spoiled humans in many ways. They are used to getting everything with just a single tap. There was a crazy demand for other food delivering brands, and thus, seeing this high demand Uber came out with its food delivering app. Then Amazon, which was an essentials brand, later came out with Amazon Prime. Obviously, there is no need for describing how much people went for streaming apps that released great hyped movies and shows. Thus, Amazon also released its streaming app Amazon Prime that gives great competition to its contemporaries.

All such brands are evidently doing great in their forum, and that is mostly because they gave high attention to what people demanded in general.  Obviously, as a brownie point, if your company or brand has its name in the crowd, more and more people will want to work in it too.  In a survey by Forbes, it was said that brands that prioritized customer data attracted employees 1.5times more than the other less employee-working companies.

Technology Trends

You can make great use of technology for collecting user experience and also working on their grievances. Induce service feedback with rating facilities to your users. Give them space to write how their experience was and what could have been better. Use the data algorithm that allows you to know the interests of your customer so that you can automatically suggest to them the best of what they prefer.  Many leading companies, like Google, Facebook, have such services and algorithms.  Artificial intelligence has great things to offer to companies that are willing to dig deep into individual preferences.

Don’t you think good customer service will provide better opportunities for your brand?  Your customer behaviour is completely determined by how you treat your customer directly or indirectly. Customer loyalty functions when you maintain good relations with them. Always remember that it just takes a bad experience for customers to step back from choosing your brand. Companies in order to cure customer loyalty decay give their best to provide friendly and convenient shopping experiences to their users. Thus, to function this approach, they need to utilize technology in full swing.

About the Author

Thomas Glare is a well-known entrepreneur. He has studied the changing trends in business dynamics, and keenly understands the value of customer experience. He owns a business that is famous for its £5 deposit bonus policy. All his business chains profoundly focus on customer preferences. His methods are a muse to many start-up companies too.

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