Experience Action
How do we do this customer experience thing anyway? Join award-winning customer experience (CX) expert Jeannie Walters as she answers real questions from overwhelmed leaders! Let's turn ideas into ACTION! From company culture to employee experience (EX) to customer service, Jeannie wants to help you demystify the process for enriching the customer experience. With over 20 years investigating the best and worst in CX, this international keynote speaker has heard it all... and now she's here to give you the answers you need! You won't want to miss an episode! Do you have a question? Visit askjeannie.vip to leave Jeannie a voicemail!
Experience Action
Insights from Overwhelming Data
What if your customer data could be the key to transforming your business? Join Jeannie Walters as we explore ways to turn overwhelming data into actionable insights. This episode starts with examining your approach to customer data, setting clear objectives like improving customer retention to make your data analysis meaningful and targeted. We tackle the challenge of data silos by exploring Customer Data Platforms (CDPs) such as Telium and Adobe Experience Platform to centralize your data. With your data in one place, discover how AI and machine learning tools like IBM Watson and Salesforce Einstein can reveal patterns and insights that drive business success.
But that's not all—this episode is packed with resources to propel your customer experience strategy to new heights. Tune in and redefine your customer experience strategy today!
Resources Mentioned:
Experience Investigators Learning Center -- experienceinvestigators.com
Learn more about CXI Ground School™ -- cxigroundschool.com
Watch the video version of this episode on YouTube -- youtube.com/@jeanniewalters
Want to ask a question? Visit askjeannie.vip to leave Jeannie a voicemail! (And don't forget to follow Jeannie on LinkedIn! www.linkedin.com/in/jeanniewalters/)
Experience Action. Let's stop just talking about customer experience, employee experience and the experience of leaders. Let's turn ideas into action. Your host, jJeanne Walters, is an award-winning customer experience expert, international keynote speaker and founder of Experience Investigators, a strategic consulting firm helping companies increase sales and customer retention through elevated customer experiences. Ready Set Action.
Jeannie Walters:Welcome back to Experience Action, where we turn ideas into action so you can get a better customer experience that drives business results. I'm Jeannie Walters, and today we are talking about something that could be a game changer for your organization. Let's listen in for this great question.
Listener Question:What tools and techniques can help you extract meaningful insights from overwhelming amounts of customer data?
Jeannie Walters:Let's face it so many organizations are drowning in customer data. We are in a position where we have so much data it's hard to figure out what insights matter. How can we find something to really act on? And so, in today's environment, where we have data coming in from so many different places, it's really important to make sure that we're not just swimming in it for the sake of it, that we are starting from a place where we need a clear objective. So the first thing I want to talk about, before we even dive into tools or technology, is that making sure that you have a clear objective for what do you want to use the data for. That's the only way you'll really be able to point yourself in the right direction to find the data that you need. Start with that objective. So, for example, if you are trying to improve customer retention, you should be focusing on analyzing customer behavior over time. If you notice that there is a drop in renewals, make sure you look back on behavior leading up to that renewal point. So, as you look for data, make sure that you're not just looking for data, but you're looking for meaningful data that will help you act on the very pain points that you're looking to solve.
Jeannie Walters:Now there are so many tools out there that we want to make sure that we start with tools that are about the gathering and integrating data from different touch points. Now many, many companies are still dealing with data silos. This is where we have information across different departments, different systems, and we don't have that centralized view of the customer. This is where something like a customer data platform or a CDP can be very, very helpful. We want everybody in the organization who is serving customers to understand where that customer is on the journey, everything that's happened in the past, and have the right information at the right moment in the journey to serve them best. Now the best way to do this is to have that customer data platform. Not all organizations are going to be ready for this or even have a way to implement it. So do what you can to centralize what you can. Now, there are different platforms out there. You may have heard of Telium. Adobe has something called Adobe Experience Platform. There are things like the SAP Suite. So there are so many different ways to look at data. Start where you can. If you have the ability to bring it into a customer data platform, great. If not, do what you can to centralize it.
Jeannie Walters:Now we also talk about once we have that data, what do we do. If we know we have something we are trying to do with that data, that's our objective. We have it in a centralized place. Now what? Well, we want to look for tools and technology around data analysis and insights extraction. Data analysis only goes so far, because what we want to do is use that. We want to analyze again to a point. We want to make sure that we have a goal, we have an objective. We know exactly what we're looking for.
Jeannie Walters:Sometimes, what happens when you're doing this analysis is that you will see other opportunities to either improve something or address a pain point, or even just find something that you want to look more into. That's fine. That's part of this process. So, as you think about how to get the right insights, this is where artificial intelligence, or AI, and machine learning can really help, because they can identify patterns in ways and at a pace that humans just can't get to. So if you have the ability to lean in to AI here, this can be very helpful.
Jeannie Walters:Once you have your data in one place, once you know what you're looking for, AI can help you answer those questions. By looking for the signals that customers are giving you through both their behavior and their feedback. We want to make sure we're not just relying on what they tell us, but also how are they behaving, what are the choices they're making, what are the choices they're not making? All of that matters. So, we can learn by asking AI to help us with those questions, especially generative AI. So you may have heard of IBM Watson or Salesforce Einstein.
Jeannie Walters:There are tools within tools now that rely on generative AI to really help you answer those questions. You can ask questions like I want to know what's happening two months before the renewal period? Are there any patterns that you're seeing that can help me understand why we're not getting the renewal rates we want. Now some tools are going to be better than others here, and some of this is based on your data readiness. So don't just blame the tool if your data is not in the right place. Look for ways that you can ask the questions. Lead to that next one. Refine, refine, refine. That's what generative AI is so great at.
Jeannie Walters:So there are some text-based versions of this that we've had for a long time that can help us with sentiment analysis. So look at the tools that you have. Look at things. You might be using Qualtrics or Medallia or some of the other ones that are out there, and, of course, there's Nice and Genesys and all sorts of them. So look for what they have available to really help you understand what is the feeling that our customers have.
Jeannie Walters:Text analytics have been around a long time and leading to sentiment analysis. Sentiment analysis is where we really look for okay, what's happening here? How are people feeling? When do they get frustrated? What can we do about it to improve that point of the journey? So all of this comes down to understanding why you're asking those questions and then continuing to ask better questions. That's what all of these tools help us do so, that we get better answers and better insights that we can actually act on. Now, if we hear something or if we find something in sentiment analysis, like wow, 85% of our customers are really frustrated at this moment. They're telling us that they do not feel good about our brand, that we are losing loyalty with them because of this. If we don't act on that, if we don't have a plan to act on that, then we're wasting everybody's time. So no amount of analysis, no amount of insights will help you act if you are not ready to act.
Jeannie Walters:So make sure that, before you go down any of these pathways to investigate your data, that you have a plan, you have buy-in, you have a way to move forward. And this is why, at Experience Investigators, we always start with strategy. We approach customer experience from an idea that it's a mindset, strategy and discipline. Many, many organizations think it's mindset and that's it, or they think it's mindset and then suddenly they go to tactics and they decide that they're going to respond to every pain point. That just creates chaos.
Jeannie Walters:So be careful about relying on the tools and technology to guide you. You need to be the guide. You need to make sure that you are leading with strategy, that you are clear on what your objectives are, because otherwise, in customer experience, everything can feel like a priority, and when you have so much data at your fingertips, it gets even worse. So make sure, as you're thinking about your customer data, your insights and how to act on it, you follow that pattern. You have a goal, you have a clear vision of what your strategy is and what you're trying to achieve. You understand what your objective is. When you are looking at the data, you find those insights and then you have a plan of action to act on them. That is really the best way to prove the return on the investment of tools like this. It's about business intelligence, not just customer intelligence.
Jeannie Walters:So, having said all of that, don't forget that we have to think about this in the bigger picture of a voice of the customer program, a feedback strategy, customer segmentation, predictive analytics, all of those things play a part here too. I'm not gonna go into all of that today. It's just a reminder that nothing happens in a vacuum. Nothing should be siloed when we're talking about customer experience work. So I hope that was helpful.
Jeannie Walters:This is such a great, meaty question. I love hearing from everybody here. You give me so much inspiration about what you do and I know I talk to leaders every single day. We have coaching, we have consulting, we have training, we have speaking, and the leaders that I speak to in customer experience they often say to me, you know what, I'm a little overwhelmed, there's too much to do. So I just want you to know we see you, we hear you and we're here to support you. The work you're doing is super important. You are changing people's lives and never forget that.
Jeannie Walters:So, as you face big data and as you try to figure out AI and as we try to create action out of insights and all the many things that we do as CX leaders, please know we have your back. We're here to help you and support you. We want to answer your questions, guide you do whatever we can to give you the resources to succeed. So reach out to us at experienceinvestigatorscom. Ask questions here for the podcast at askjeannievip.
Jeannie Walters:Check out our resources on the Learning Center. Or maybe you want to check out CXI Ground School, where we go over the foundational formula for success for your organization. We have all these resources because we believe in you, so take a deep breath, feel proud about what you do, and I cannot wait to answer your question next time. Thanks for joining us on the Experience Action Podcast. I'm Jeannie Walters and I'll see you next week. To learn more about our strategic approach to experience. Check out free resources at experienceinvestigatorscom, where you can sign up for our newsletter, our Year of CX program and more, and please follow me, Jeannie Walters, on LinkedIn.