DATA IS THE NEW AGE FUEL FOR CXCX Primer lays the foundation for enabling 360-degree customer (C360) insights with the CX Datum initiative. At Virtuos, we take an outcome-centric approach to the definition of requirements by quantifying how customer data is expected to improve the customer experience (CX) and deliver business benefits. Another method is to strike the optimal balance between the two vectors of C360 complexity, namely the required scope of customer data and the governance needed to fulfill a request for C360 insight. The explicit goal of undertaking the CX Datum initiative is to see the structure of data driving C360 insights by understanding the disparate sources of data, the flow, the integration points, and finally, how the Data is deciphered for a purpose.
Reliance on Data to Improve CX
Data-Centric CX Improvements
There’s an improved reliance on data to improve Customer Experience (CX) more than ever. The following diagram (left side) from the Gartner CIO Survey, October 2019, shows the percentage of respondents rating the extent of scaling at 5, 6, or 7. Data-centric CX improvements from Gartner’s CDO Circle Poll 2019 reveal the key obstacles to value creation from Data.
CUSTOMER DATA GENESISCustomer Data is the cornerstone of any business strategy — a collection of data from various sources to manage the data qualitatively across the organization. During our CX Datum initiative as a part of CX Primer, Virtuos Consultants can find the sources of customer data and how the data is utilized within and outside of the organization.
Customer Data Type
Organizations maintain vast customer data throughout the myriad of data points. For ease of purpose, the data is further pruned by the category - personal data, engagement data, behavioural data, and attitudinal data. The linkages amongst these data types are also ascertained based on data sources. Our workshop covers some of the best practices by knowing how marketers use demographic data, psychographic data, and content assets.
Customer Data Sources
Five essential sources of data collection include the company’s website (or e-commerce portal), non-commerce transactions, campaigns, surveys, social media. The data could be stored in a variety of systems, namely Web Analytics, CRM, Marketing, ERP, Supply chain, HR, and Financial packages.
Customer Data Flows
How data is related and linked to each of operations, namely website to CRM, CRM to campaigns, transactions to surveys, or ERP. Data flows are also determined by the permissions and privileges in compliance with the privacy and governance policies of the organization and the customers.
Validation and Analysis
What are the cycles of validation to verify that the data is accurate, usable, and optimized for customer 360 insights? The CX program requires a governance model for the data classification, association rule mining, clustering, outlier detection, regression analysis, and prediction.
"Rome wasn't built in a day. You need to understand how it comes together brick-by-brick; how each of the components slots together - or doesn't!"
CUSTOMER DATA DRIVING EXPERIENCE FLOWSHow do you deliver relevant experiences without the foundation of personalization data?
Our Data teams work with the customer's CDO or Data Experts to understand the data relationships across four digital dimensions and by industry and region. Our CXNow advanced services comprise of:
a) benchmark digital performance relative to competitors and understand strengths and weaknesses;
b) identify opportunities to improve digital’s business impact and prioritize capital allocation;
c) educate teams on best practices and help them stay abreast of digital developments and disruptions, and
d) measure performance over time to hold teams and vendors accountable.
- E-Commerce and Account
- E-Tailer Visibility and Merchandising
- Search & Navigation
- Content & Product Pages: Merchandising, Reviews, Guided Selling
- Customer Service
- Technology: Responsiveness and Innovation
- Site Traffic & Web Authority
- Paid & Organic Brand Search
- Paid & Organic Category Search
- Desktop Display Advertising Quality and Efficiency
- Email Marketing Segmentation and Customization
- Earned Media
- Reach, Frequency, Engagement, and Content
- Promoted and Organic Visibility
- Emerging & Regional Platforms
- Smartphone Experience and Consistency
- Organic Search Visibility
- Paid Search Effectiveness
- Mobile Content & Innovation
- Mobile Apps
Align D&A Strategy With Business StrategyHow do organizations deliver the highest value using data and analytics (D&A)?
One of the most important tasks that a CDO or other data and analytics leaders must complete is to turn the demand for data management and business analytics into actionable strategies to deliver business value. Virtuos strategy compass as part of CXNow Transformation Services will guide leaders in the first step of this process — that is, developing a comprehensive data and analytics strategy.
During the CX Datum initiative, our Consultants will assess, and garner information on the D&A alignment with the business strategy on four factors:
- Demonstrable business value while investing in innovation
- How organization plays by the rules by using data and analytics governance
- Identification of the technology requirements that fit an organization's needs
- The business strategy with an organizational approach that fits within the organization’s culture
CXDATUM, AN INTEGRAL PART OF CX PRIMEREngage with Virtuos Consultants to book a FREE CX Primer workshop to provide smarter insights. For more advanced CX Datum Services engage with CXNow Digital Transformation Consultants. Connect with Us
It’s not Sales or Service Cloud. It’s EXPERIENCE CLOUD! Designed for delivering superior experiences to your customers, employees and other constituents. Contact us today to know more.