The leaders see their businesses’ potential and understand what they need to do to capitalize on their unique advantages. LSS is a company that offers insights to businesses in order to maximize the value they derive from their business. We combine customer behavior research, broad relationships with tech companies, and our unique methodologies to convert these insights into actionable constructs.
Around 75% of CEOs, presidents, and COOs believe that customer insight is critical to driving success. However, few companies use all relevant consumer information before making important decisions. Most companies fail to turn insights into practical and business-relevant information.
Moreover, it isn’t true that customer insight efforts are only limited to consumer-oriented companies. B2B and B2C companies in different industries can attain significant growth because of this data.
Key Drivers of Change
Customer insights are most useful when they integrate qualitative and quantitative research data. How you gather these insights depends on which type of insight you’re looking for. Traditional research methods are interesting, but they all have one key drawback: they rely on your consumers’ memories of what the best design should be. In essence, with traditional methods, the data can be corrupted.
Some people might not like relying on a phone to remember important things. But wouldn’t it be better to just look at your phone and get all the information? A person who wants to improve the way they board their plane could use this app if they have a similar problem. If you send a survey or request an interview later, a variety of factors may affect the respondent’s responses. For example, they might forget something they originally thought of to highlight or have their thoughts shifted by an unpleasant interaction with baggage claim. This, in turn, could distort the respondent’s overall attitude.
Ethnographic research, where a researcher observes and records the verbal or nonverbal behavior of an individual, is a very good method to conduct qualitative research. This method can prove to be hard to do in most settings. To avoid any behavioral changes, it is important to implement virtual usability testing. This requires four main components, namely:
Clean and Accurate Data
You can make sure that your conclusions are sound with accurate data. It's critical to have clean and reliable data so you're not missing anything that might change your perspective. Organizations looking to make the most of their customer insights should invest in a single-user perspective. You need to consolidate findings from multiple sources in order to work more efficiently and identify new opportunities.
Tools for Data Gathering
There is no standard way to determine the authenticity of data. It's possible that evaluating the data may be more subjective. Every technology vendor will claim that they have the best solution for you. In the world of MarTech where there are thousands of possible solutions for ``the right tools,``. Hence it is critical to outline your criteria in advance so you can find the best fit. When acquiring a customer insight acquisition system, ensure that the system is clear and easy to understand. It should have quantifiable objectives and take into account all major elements of technology procurement. This means that people, data, and processes are all considered in the system.
Only around 20% of marketers believe they possess the skills needed to do data analysis and improve the customer journey. This means that most of them say they need professional training to conduct effective data analysis. This is an issue because analyzing data from numbers is a scarce skill. But in the last five years, data visualization has become much more advanced. So now, you can use charts, graphs and maps to understand your customer and your products rather than relying on just numbers.
Customer data platforms(CDPs) have been around for a while now. The opportunity that CDPs provide to marketers to take control of technology has attracted wide interest amongst the marketing community. A customer data platform guarantees that the data is unified, clean and comprehensive. The good news is that this is true regarding data from your own company and external sources. A few progressive companies provide the four vital components of consumer intelligence using just one platform. For those who need a CDP, it is important to decide whether you're looking for in-depth analytical features, segmentation, or marketing automation tools and features.
SOLUTIONS THAT WORKED
Running reports based on user’s web browsing behavior provides insights into what they do and how they explore your website. Heatmaps, for example, can show you where the clicking action is greatest on your website. Thus heatmaps serve as a tool for finding the most important places where you need to put your CTAs and other important components.
“Rather of concentrating on the competitors, concentrate on the client and their journey.”
User experience refers to how your website appears and how users navigate the website. Your customers will be satisfied when they have a positive user experience. Make sure to focus on small design quirks that can increase conversions. Examine every aspect of your site, from your logo and top navigation bar to the widgets in your sidebar. Identify opportunities to improve the user experience.
All great web developers know that relying on one’s judgment would not help you create a good-looking UI. Cold hard data and facts help the designers build an attractive user interface. Hence at LSS, we perform extensive virtual usability testing to ensure the design is intuitive and that the customers can find their way around easily.
Our clients’ service saw an expected increase from the web after the website went up. After two months, they saw around 20% of their orders through their website rather than the traditional phone line. This number, however, stayed at that level for a long time on the checkout page. We realized that the end-user experience wasn’t very good based on our data. We made a few slight changes to the UI and conducted a suitable UX analysis to find out where users were spending the most time (we used heatmaps). As a result, we could identify and fix any inconveniences caused at that particular step of the checkout process. This helped us increase the conversion rate for our customers.
LSS quickly became aware of the potential of heat map monitoring and implemented it to better process and analyze data. Our research concluded that the page conversion rates increased by 50% after the website was revamped to better match what consumers were looking for.