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Data and Customer Experience
The average customer spends more time online, collectively creating about 2.5 quintillion bytes of data every day. It is up to marketers to use this data to solve some of the industry’s most annoying problems.
With an over-abundance of data, companies should be able to outline who their audiences are and what they want clearly, but only 15 percent of companies say they can consistently identify their audiences. The audiences are fed up, with nearly half feeling annoyed by ads on social media, and 42 percent expressing distaste for ads that appear on their own company’s website.
Here’s how a few ways brands and companies, looking to connect the dots, have stopped sitting on their data and are actually using it.
Using data keeps callers from hanging up
Just three years ago, where customers were willing to wait 13 minutes for relevant information, today almost two-thirds of consumers are willing to wait only two minutes, and 13 percent of respondents refuse a wait time.
Today, numerous companies are using chatbots for 24-hour answers to simple customer questions. The most significant benefit to bots is the feedback loop created to train human customer service reps.
Using data generates a video that audiences won’t mute
The past five years have seen an escalation of video content, with some recent studies reporting as many as 73 percent of consumers have bought a product after watching a video, and 81 percent of companies, who have used video, seeing an increase in sales.
However, some consumer surveys report that 52 percent of audiences feel that pre-roll videos are “interfering,” and 51 percent think less of brands that use auto-playing video ads.
AI seems to be the solution for serving ads that make consumers buy more. Recently Samsung experimented with AI-enhanced video, by adopting LoopMe’s data management platform, to target not only demographics interested in their product, but specifically those customers in need of a new handset by analyzing data based on location, demographic, and device. This resulted in more than a third of the targeted audience watching the specifically tailored video.
Using data generated texts that customers will read
Customer data comes from a variety of touchpoints, but some of the most critical data customers give about themselves is in their physical store visits. This leads to better insight into customer behavior about visiting times, buying patterns, and even who accompanies them.
For years, this data remained unused, until AI made it easier to use point of sale (POS) data merged with other data to deliver relevant messages.
The casual dining restaurant chain T.G.I. Friday’s has successfully used AI to connect its POS data to deliver highly targeted insights to predict not only when customers were dining but what their favorite foods were. This saw a three times increase in online orders.